COLUMNS

コラム

Date published: 12/06/2025

The Future of Second-Hand Retail: Circular Economy in Action

The second-hand luxury retail market in Southeast Asia is experiencing significant growth, driven by increasing consumer interest in sustainable and affordable luxury goods. Items such as designer bags, high-end watches, fine jewelry, and gold are at the forefront of this trend, reflecting a shift towards more conscious consumption.

In countries like Singapore and Malaysia, consumers are becoming more receptive to pre-owned luxury items. This change is influenced by a combination of factors, including the desire for high-quality products at more accessible prices and a growing awareness of environmental sustainability. The circular economy model, which emphasizes the reuse and recycling of products, is gaining traction in the region, encouraging consumers to consider second-hand options as viable alternatives to new purchases.

The market for pre-owned luxury watches, in particular, has seen substantial growth. According to a report by Morgan Stanley, the secondary market for luxury watches reached $25 billion in 2024, with Asian consumers playing a significant role in this expansion. This surge is attributed to younger buyers who value both the craftsmanship of luxury timepieces and the sustainability aspect of purchasing pre-owned items.

Similarly, the demand for pre-owned designer bags and fine jewelry is on the rise. Consumers are increasingly seeking out reputable platforms that offer authenticated luxury items, ensuring quality and authenticity. This trend is supported by the growth of specialized resale platforms and boutiques that cater to the discerning tastes of Southeast Asian consumers.

Jewel Cafe is at the forefront of this movement, providing a trusted avenue for individuals to sell their pre-loved luxury items. By offering expert appraisals and a commitment to authenticity, Jewel Cafe facilitates the seamless transition of luxury goods into the second-hand market, aligning with the principles of the circular economy.

As Southeast Asia continues to embrace sustainable practices, the second-hand luxury retail market is poised for continued growth. Consumers are recognizing the value in extending the lifecycle of luxury items, contributing to a more sustainable and economically viable future.

This Article Has Also Been Read!

20/02/2024

A Spirited Celebration of Chinese New Year in Our Office

This year, we've decided to usher in the Year of the Dragon with a spectacle that not only captivates the eyes but also stirs the collective spirit of our workplace...

27/11/2023

Seeds of Change: Cultivating a Greener Tomorrow

As a multinational company, we are not only responsible for our customers' well-being in the day-to-day running of our business but also for that of the environment & and society...

22/09/2023

A night to remember

Last week’s annual dinner was a dazzling affair that left everyone in attendance with unforgettable memories. The event was held in Colony Coworking Space @ KLCC and was a culmination...