What is the potential of the luxury resale market in Portugal?

The purchase of pre-owned luxury goods is becoming a worldwide trend. With growing concerns over sustainability and the search for different and unique pieces, new ways of consuming luxury have emerged, especially among the younger generations, giving a boost to the second hand luxury market. However, in the Portuguese market this trend is almost non-existent and have just started to give its first step early this year. In an attempt to study the potential of growth for this market in Portugal, 14 in-store observations to the already established luxury resale business models were conducted, as well as 31 in-depth interviews to luxury consumers and 3 interviews to luxury resale retailers. Results showed that there is an interest both to purchase and sell second hand luxury items, suggesting the high potential of the market in Portugal. Moreover, it was found that the best business model to be applied to the Portuguese market is a closed-doors system, with a personalized and exclusive service similar to a luxury store with an omnichannel interaction with a physical store and an online website