The luxurious re-commerce market within the Gulf area is predicted to hit a worth as excessive as $780 million by 2026, up practically 60 p.c in comparison with 2022, in keeping with evaluation by Dubai-based luxurious retail large Chalhoub Group.
Nevertheless, the sector stays nascent and its tempo of development is slower than in different markets, just like the US, the place there’s much less cultural stigma connected to buying secondhand, sustainability might rank extra extremely amongst shopper considerations and common spending energy is much less, the evaluation discovered.
The report, printed Wednesday, comes as Dubai is taking part in host to the UN’s annual COP local weather summit.
Be taught extra:
Fashion in the Middle East: Optimism and Transformation
BoF Perception’s information to why the Center East has turn out to be the area to look at and what manufacturers can do to faucet into the brand new alternatives that this $89 billion market provides.
Thank you for being a valued member of the Nirantara family! We appreciate your continued support and trust in our apps.
-
Nirantara Social - Stay connected with friends and loved ones. Download now:
Nirantara Social
-
Nirantara News - Get the latest news and updates on the go. Install the Nirantara News app:
Nirantara News
-
Nirantara Fashion - Discover the latest fashion trends and styles. Get the Nirantara Fashion app:
Nirantara Fashion
-
Nirantara TechBuzz - Stay up-to-date with the latest technology trends and news. Install the Nirantara TechBuzz app:
Nirantara Fashion
-
InfiniteTravelDeals24 - Find incredible travel deals and discounts. Install the InfiniteTravelDeals24 app:
InfiniteTravelDeals24
If you haven't already, we encourage you to download and experience these fantastic apps. Stay connected, informed, stylish, and explore amazing travel offers with the Nirantara family!
Source link
