In the neon-lit shopping districts of Tokyo, where department stores once reigned supreme, a new kind of commerce is quietly emerging. Nestled between designer boutiques and luxury cafes are curated secondhand shops, buzzing with a growing community of savvy buyers, vintage enthusiasts, and sustainability advocates. What was once considered taboo—a marker of economic struggle or failure—is now evolving into one of Asia’s most dynamic business trends: the secondhand economy.

While much of the global conversation around sustainable consumption focuses on Western markets, Asia’s secondhand revolution is quietly building momentum, reshaping consumer habits, and redefining the concept of value. From the crowded flea markets of Bangkok to Seoul’s minimalist online thrift apps, the secondhand economy in Asia is blossoming into a multifaceted industry that spans fashion, electronics, and even cars.

From Stigma to Status: The Rise of Resale Culture

Traditionally, the concept of buying used goods in many Asian cultures was tinged with stigma. In regions where “new” equates to status and prosperity, the idea of purchasing pre-loved items was once seen as undesirable, even shameful. But over the past decade, a generational and cultural shift has begun to challenge these notions.

Millennials and Gen Z, driven by climate-conscious values, frugality, and a desire for unique, non-mass-produced goods, are now the driving forces behind Asia’s secondhand boom. Platforms like Japan’s Mercari—a mobile marketplace app that allows individuals to buy and sell everything from clothes to kitchenware—have witnessed staggering success. Mercari has over 20 million monthly users and generated $1.4 billion in revenue in 2022, according to its annual report. Meanwhile, in China, apps like Idle Fish (a subsidiary of Alibaba) have grown into massive ecosystems where users trade secondhand goods alongside barter services and community forums.

In South Korea, Danggeun Market (or “Karrot”), an app with over 26 million downloads, has turned the secondhand economy hyperlocal, encouraging neighborhood-level trading. Instead of buying from strangers across the country, users can exchange goods with their neighbors, fostering community ties in addition to economic transactions.

The growing popularity of these platforms reflects a broader cultural shift. “People now see buying secondhand as a smart and responsible choice,” says Hannah Chen, a retail consultant based in Taipei. “It’s less about what you can afford and more about making ethical and individualistic decisions.”

Fashion Leads the Way

Nowhere is the shift toward secondhand more apparent than in the fashion industry. Asia’s fashion resale market is booming, propelled by the region’s insatiable appetite for designer brands and fast fashion, which has created a surplus of goods ripe for resale.

In Tokyo’s trendy Harajuku district, vintage stores like Kinji Used Clothing have become iconic, attracting both locals and tourists. “The vintage market here is thriving because people want something unique,” says Tomoko Sato, the owner of a small curated thrift shop in Shibuya. “It’s also about sustainability. Customers care about where their clothes come from now.”

Luxury resale platforms like Hong Kong-based HULA and Singapore’s Style Tribute are catering to high-income consumers, offering authenticated pre-owned designer goods at reduced prices. “There’s less guilt attached to buying secondhand now,” explains Joanna Lee, founder of HULA. “People feel they’re contributing to sustainability while still enjoying luxury fashion.”

According to a 2023 report by ResearchAndMarkets.com, the Asia-Pacific secondhand fashion market is projected to grow at a compound annual growth rate (CAGR) of 14.8% between 2023 and 2028, outpacing the global average. In fact, the rise of this market is so significant that some brands, like Gucci and Burberry, have started exploring their own resale platforms to capture a share of the trend.

Beyond Fashion: Electronics and Vehicles in the Mix

While fashion dominates headlines, Asia’s secondhand economy is diversifying. Pre-owned electronics have become a major segment, especially in markets like India, where refurbished smartphones are booming. A report by Counterpoint Research revealed that India’s refurbished smartphone market grew by 19% in 2022, making it the fastest-growing market globally. Platforms like Cashify and Reebeloare capitalizing on this demand, offering consumers affordable, eco-friendly alternatives to buying new devices.

Cars are another key sector. In Indonesia, the secondhand car market is thriving as more middle-class families opt for used vehicles to combat rising inflation. According to OLX Autos, one of Indonesia’s largest online used car platforms, the demand for secondhand cars increased by 25% in 2023 alone. This growth is mirrored across Southeast Asia, where platforms like Carsome (Malaysia) and Carousell(Singapore) dominate the market.

Sustainability at the Core

The rise of Asia’s secondhand economy is not just about economics; it’s also about environmental responsibility. As the climate crisis intensifies, consumers and businesses alike are recognizing the importance of extending product lifecycles to reduce waste and carbon emissions.

According to a 2022 report by the Ellen MacArthur Foundation, keeping clothing in use for just nine additional months can reduce its environmental impact by up to 30%. Similarly, reusing electronics can significantly reduce e-waste, which reached a staggering 24.9 million metric tons in Asia alone in 2022, according to the Global E-Waste Monitor.

Governments are also stepping in to promote sustainable consumption. Japan’s Ministry of Economy, Trade, and Industry has launched initiatives encouraging secondhand purchasing as part of its broader efforts to achieve carbon neutrality by 2050. Similarly, South Korea’s “Zero Waste” campaigns actively promote resale culture alongside recycling programs.

The Challenges Ahead

Despite its growth, the secondhand economy in Asia is not without challenges. Quality assurance remains a significant concern, particularly in the fashion and electronics markets, where counterfeits can erode consumer trust. Logistics, especially in rural areas, also pose difficulties, as sellers and buyers struggle to connect seamlessly.

Moreover, some critics argue that the secondhand economy could exacerbate overconsumption. As goods become more affordable, consumers may end up buying more than they need, undermining the environmental benefits of resale culture.

The Future of Secondhand in Asia

What makes the secondhand economy so compelling in Asia is its intersection of cultural, economic, and environmental factors. It’s more than just a trend—it’s a transformation of how people think about ownership, waste, and value.

For consumers, the appeal lies in finding something unique, saving money, and making choices that align with their values. For businesses, it represents a massive opportunity to tap into a growing market while championing sustainability. And for the planet, it’s a step toward a more circular economy, where goods are reused, repaired, and repurposed rather than discarded.

As I walked through a bustling flea market in Bangkok last month, surrounded by the hum of haggling voices and the scent of street food, it was clear that secondhand is more than just a marketplace—it’s a movement. Asia’s secondhand economy is not just reshaping how we consume; it’s reshaping how we connect, with each other and with the planet.

The revolution may be quiet, but its impact will be heard for generations.