Market Overview: US Recommerce Market
MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on US Recommerce Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
US Recommerce Market Insights 2024-30
The US Recommerce Market is estimated to grow at a CAGR of around 14.5% during the forecast period 2024-30.
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Driving Innovation: Exploring the US Recommerce Market and its Key Drivers
The US Recommerce Market Driver: Increasing Population of Millennials and Gen Z to Promote the US Recommerce Market
The recommerce industry in the US is experiencing a remarkable recovery, with major support from the Millennial and Gen Z populations. These digitally native and sustainability-conscious generations are reshaping the retail landscape by embracing second-hand commerce, thus driving the growth of the recommerce industry in the country. While the recommerce industry has attracted consumers across all age groups, Millennials and Gen Z have emerged as key enthusiasts owing to factors such as sustainability, budget-friendly shopping, unique personal style, tech-savvy engagement, etc. According to the US Census Bureau, millennials and Gen Z accounts for 32.2% of the total US population in 2024, this percentage is expected to grow further in the coming years, thus making the US a key market for refurbished products.
Additionally, recommerce companies are embracing cutting-edge technology to create user-friendly and visually appealing platforms for the younger population. Mobile apps have become a primary focus, providing seamless and on-the-go shopping experiences tailored to the preferences of digital natives. Thus proliferating the growth of the recommerce industry in the US. For instance,
- In 2020, Poshmark, one of the key players in the US recommerce market, has introduced in-app purchasing for its customers. The ability for users to make purchases directly within the app has been introduced to streamline the buying process and enhance customers’ convenience.
Top Players in the US Recommerce Market:
Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Nokia Corporation, Intel Corporation., ZTE Corporation, Cisco Systems Inc., Samsung Electronics Co. Ltd., SK Telecom Co. Ltd., NTT DOCOMO Inc., Deutsche Telekom AG, Telefonica SA., Vodafone Group plc, Amdocs, Inc., Mavenir Systems, Inc., Parallel Wireless, and Others
US Recommerce Industry Recent Development:
- 2021: Glyde has launched a dedicated platform for buying and selling used video games, consoles, and accessories under the name Glyde Gaming. This expansion was carried out by the company to cater to gamers and gaming enthusiasts.
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Segmentation Analysis of US Recommerce Market
US Recommerce Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Type
-Peer-to-Peer Marketplaces
-Resale Marketplaces
-Refurbished Goods Marketplaces
By Product
-Electronics
–Smartphones & Tablets
–Laptops & Computers
–Cameras and Photography Equipment
–Home Appliances (Refurbished Refrigerators, Washing Machines, etc.)
–Others (Networking Equipment, Gaming Consoles and Accessories, etc.)
-Fashion & Apparel
–Clothing
–Footwear
–Accessories (Jewelry, Watches, Handbags, etc.)
-Furniture and Home Goods
–Sofas and Couches
–Tables & Chairs
–Home Decor (Rugs, Paintings, Vases, etc.)
–Others (Garden Equipment, Bathroom Accessories, etc.)
-Automotive
–Used Vehicles
–Vehicle Parts and Accessories
-Sports and Fitness Equipment
-Others (Toys, Collectibles, Books, etc.)
By Product Category
-Non-Luxury
-Luxury
- The luxury segment holds a significant share in the US Recommerce Market.
By Age Group
-Up to 18 Years
-19-25 Years
-26-40 Years
-41-55 Years
-Above 56 Years
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A Comprehensive Geographical Analysis:
By Region
-North
-South
-East
-Mid-West
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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