The second hand market has not received much attention of the researchers on market sector from the economic attention of use of second hand markets or it relation to demand and supply (Foc, 2010). However, it is evident that second had fashion market is thriving with evident of second hand fashion stalls of clothing’s and jewelries increasing by the day. The consumer theory mostly is driven by the social status in the society depending on their buying power. Second hand clothing’s and jewelries cost relatively cheap while they are also of good quality and they meet the growing market of those with less purchasing power.
The business model being employed is relatively important for the maintenance of the entire process of production of new products which are bought by those with high purchasing power who are in turn dispose them for resale at a lower price. This assists on distribution of the products and its consumption by the deferent sectors of the market. The consumer theory will be done based on demand and supply of the second hand commodities and their pricing in the market. Supply of new goods with an aim of improving and introducing new fashions which pushes down the older fashioned clothing’s and Jewelries to be sold as second hand products (Allwood and Laursen, 2006). Therefore, constant supply of new fashions in the market makes those with high purchasing power to buy them and dispose what they term to be less fashionable which gives an opportunity for the other sector of the market have access to the fashion which is being extinct for the fashion life cycle.
For the methodology section, use of both secondary and primary research approach is important to get a better understanding of the market and consumer theory. The methodology should be used to provide information on the behavior and motivation of the second hand fashion goods consumers as well as. According to Palmer and Clark, (2004) fashion goes on in a cycle through its entry in to the market mostly by those who have high buying powers as they are expensive which are later disposed to be sold as second hand goods as the cycle trickle down to the other sector of the market as it get absolute.