Secondhand purchasing, once associated primarily with financially marginalized individuals driven by economic necessity, has now emerged as a popular choice even among affluent consumers with sustainability concerns. This significant shift in consumer behavior underscores the urgent need for a comprehensive review that consolidates the fragmented literature on secondhand consumption, integrating its theoretical foundations and intellectual structure. In response to this imperative, our research, utilizing a theory‐context‐characteristics‐methodology framework, fills this critical gap and sets a pioneering precedent as the first systematic literature review on this topic. Through a content analysis of 105 publications from 59 journals spanning over three decades, our findings unveil more than 70 influential factors shaping secondhand purchases and consumptions. Moreover, our research illuminates noteworthy trends in theories, contextual considerations, consumer traits, and methodological approaches, offering a holistic view of the past, present, and future thematic developments in secondhand consumption research. Scholars will find these insights invaluable for positioning their future studies. Furthermore, we outline compelling directions for future research, proposing a deeper exploration of consumer values, social influences, advertising appeals, religiosity, and green consumerism to unlock novel avenues for understanding and strengthening consumer motivations for secondhand products. By shedding light on this vibrant and evolving field, our research not only fills a critical void but also paves the way for meaningful contributions to the expanding realm of secondhand consumption.