The RealReal 2022 “Luxury Consignment Report” based on a year-on-year comparison of January – November 2021 with 2020. It is worth heading over to access the full report. Admittedly the data is all from their platform users but they are the largest online marketplace for authenticated, consigned luxury goods which makes their insights useful.
Across all demographics Gucci was the number one brand sold and bought by first time site users. Ensuring that dresses were the number one category.
The top 5 brands with the biggest resale value gains;
+32% : high value Nike sneakers
+16% : Rolex
+15% : Bottega Veneta
+13% : Chrome Hearts
+13% : Hermes
Commenting on the report Rati Sahi Levesque said “Resale has undeniably gone mainstream, and the luxury sector has one distinction that sets it apart; every demographic actively participates in luxury resale. From Gez Z to the Silent Generation every demo increases its adoption of secondhand luxury in 2021, and nearly every brand saw rising resale vale as a result”.
Sustainability is mentioned by 43% of shoppers and sellers as motivation to shop on resale sites. Under 45s shoppers are almost 1.5 times as motivated by sustainability arguments.
Millennials make up 36% of consignors, motivated by both the earning potential and the ability to refresh their wardrobes.
Every insight underpins the belief that circular fashion is very much here to stay.