Making a luxury purchase is not something that usually comes without some research and reflection, and with good reason. Parting with your hard-earned cash in such a monumental way is a big deal and it pays to know what you’re getting, both in appreciation value and in recent years, resale value. The luxury resale market is one that has exploded in popularity in recent years with sites like TheRealReal experiencing major growth (the company filed for a $100 million IPO back in June) as a result.
The RealReal is undoubtedly the leading retailer in the luxury consignment space online. Each year it produces a resale report which tracks what brands have piqued the interest of consumers looking to buy into the market. And there’s a new reigning champion for 2019.
According to the Luxury Resale Report 2019, Gucci is the most searched brand from the past 12 months, with a 78% increase in searches. Perhaps unsurprisingly, it’s the 18-34 year old market that’s driving the interest. The report also notes that the brand acts as a gateway for streetwear consumers to buy into luxury.
Balenciaga had the strongest annual growth, recording a 102% increase in demand, landing it in the top 10 most searched brands for the year. Dior, Louis Vuitton, Chanel and Fendi all performed well, too.
TOP 10 MOST SEARCHED BRANDS
- Louis Vuitton
- Christian Dior
- Christian Louboutin
On the accessories front, if you’re looking to invest in a handbag, the Hermès Kelly pretty steadily retains its value over time with a whopping 93% resale value according to the site. Meanwhile, revival pieces, like the Dior Saddle Bag, “surge in value one to two years after making it back on the scene” meaning you’ll want to offload yours in that window to maximize earning potential.
Streetwear is also having a fairly major resale moment with year-over-year growth at 281% — searches in this sector are also coming from the 18-34 year old market. Top brands include Yeezy (which came in at number one on the list), Off-White, Nike, Supreme and Adidas.
As for what to get your hands on (or offload!) for the coming seasons? Mini bags, hair clips and tie-dye pieces are where it’s at, according to the report.
TOP 8 RISING MICRO TRENDS
- Mini bags
- Hair clips
Interestingly, branded homewares are also having a moment with the value for logo-strewn items for the home increasing 5.5 times more than those without in the past year. It looks like Off-White has dropped its new homewares collection at the perfect time…
Finally, the report noted that sustainability was a key reason consumers were shopping on site. According to the report, 82% of customers ranked sustainability as an important reason for shopping TheRealReal, whilst 32% said that they use resale sites as a replacement for fast fashion.