Second Hand Consignment Sales Are Increasing In Intensity. Gucci Has Become The Most Popular Brand.

In August 21st, the famous second-hand luxury goods in America

The RealReal released the second half of the 2018 luxury goods consignment Industry Report ("State of Luxury Resale").

The RealReal chief business officer Rati Levesque said in the report: "luxury consignment market is exponentially increasing, and is more mainstream than ever before.

We are all concerned about the development of online and physical consignment market, in order to understand consumer behavior and understand the needs of customers.

As of June this year, The RealReal has consigned 8 million luxury items. According to this huge database, the company has counted the development trend, bestseller brand and style of luxury goods in the second hand consignment market, providing a valuable perspective for the industry and the public to understand the rapid expansion of the market.

Second hand Gucci is the most popular.

According to the report, luxury goods of specific brands and styles show significant long-term value.

For example, Gucci was very eye-catching in 2018. It jumped to the top from last year's overall ranking of third, beating last year's No. 1 Chanel and ranked second Louis Vuitton, ranking the top of search volume.

Cartier (ranked tenth), Dolce&Gabbana (ranked twelfth), Tiffany (ranked thirteenth), Saint Laurent (ranked fifteenth) and Fendi (ranked sixteenth) are also climbing steadily on the popular search list.

But this year, the French luxury luggage giant Goyard seems to have lost its attractiveness to consumers, down from eighth last year to seventeenth place.

Isabel Marant, a luxury luxury brand from France, also performed poorly, down from eleventh last year to eighteenth.

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In terms of volume, Gucci has won the lead in many brand competitions.

With the efforts of its creative director, Alessandro Michele, to promote the design concept of extreme complexity, Gucci achieved an overall year-on-year growth of 62% in the first half of 2018.

The Herm s and Chanel followed by an increase of 40% and 34% respectively.

Even in secondhand consignment pactions, the intensity of competition among luxury brands is increasing.

Because consumers are turning to Balenciaga to buy the latest design of pioneer Demna Gvasalia this year, the overall sales volume of Demna, another brand of Vetements, is poor.

Johanna Ortiz also offers a similar fashion for its competitors at a lower price. The consignment price is down by 27% overall.

As for the most popular luxury product this year, the "logo bag" series has become a popular choice again.

Dior sales of classic saddle bags increased by 89% over the same period last year. The Gucci logo green red green ribbon bag grew by 51%, while the Louis Vuitton classic letter old leather shoulder bag grew by 26%.

Levesque pointed out: "most of the bags with Dior, Gucci and Fendi signboards and logo patterns are continuously increasing in the consignment price.

On the contrary, sales of off-season handbags without logo designs are going downhill.

The millennial generation is the main force.

In addition to a glimpse of the popularity and heat of luxury brands, there are also some consumer phenomena and trends in the luxury industry.

The report shows that the more popular luxury brands in the millennial generation account for a large proportion of second-hand consignment sales, and the younger generation of customers is the main growth point of the industry.

For example, Gucci, which is far ahead in all age groups, is growing by more than 48% in the millennial generation than in other age groups.

In addition, Herm s also has 71% sales growth, which shows itself attractive in 18-34 year old consumers.

For luxury brands, the second hand luxury consignment market is not only an entry-level way for young people to try luxury consumption, but also helps to enhance the group's luxury consumption intention in the future. In the long run, it has positive significance for the consumption of luxury goods in the primary market.

On the one hand, young consumers have become the main force of the second hand luxury consignment industry. On the one hand, they rely on the digital positioning of the consignment platform, attracting new millennials that are accustomed to online shopping.

It is reported that The RealReal nearly 1/3 online access traffic from 24-34 years old crowd, and from 18-23 years old, 35-44 years old crowd accounted for 18%.

On the other hand, Millennial consumers enjoy the personality, mix up and cost-effective performance of second-hand shopping.

The RealReal founder Julie Wainwright, who interviewed Forbes magazine earlier, pointed out that nowadays American consumers are overwhelmed by too many similar fashions, while the millennial generation is particularly anxious for personalized appearance.

She said: "never underestimate the needs of the millennials for the luxury of luxury, which is the key to the success of The RealReal in the past and in the future."

"Daddy wind" is favored by single products.

As more and more men begin to pay attention to and accept second-hand luxury consumption, male watches,

Consumption of other categories also increased significantly.

According to the report, Rolex, Gucci and Louis Vuitton become the top three most popular luxury brands among millennial male consumers.

In addition, as the last wave of fashion designers pushed the low-key design of thick sneakers and soil denim, male consumers in the first half of 2018 turned to favor the streets of "Daddy wind".

Clothes & Accessories.

The middle-aged men in Hawaii, who had a bright and bright pattern, increased their search volume by 84% compared with last year, and the search volume for men's pockets increased by 614% over the same period last year.

In addition, the popularity of luxury shoes is also high. The Yeezy X Adidas series designed by Kanye West is the most popular and popular in all the states of the United States.

According to Thredup, the second hand consignment platform of popular fashion brands, by 2022, the total sales volume of the second-hand consignment market will reach US $41 billion, and the second-hand goods store will also become one of the fastest growing industries this year.

In an interview with Forbes magazine, Levesque pointed out that the second-hand consignment platform is becoming an important second-hand trade vane, and even can promote a one hand deal.

He said: "according to the survey, many luxury buyers will look at the second-hand trading platform before buying new products.

Even if they never sell second-hand goods, if they want to buy a new product with higher price, knowing their second-hand price ahead of time will help to make purchase judgment.

If the second-hand price of a commodity can be returned to around 80%, consumers will be more likely to buy a single product.

In recent years, as the second-hand luxury consignment market has gradually become an important part of the luxury goods market, more and more investors are aware of the huge potential for development of the second hand luxury consignment industry.

In 2017, Julie Wainwright, founder of The RealReal, said in an interview with CNBC that the sales volume of the company was only $ten million when it was launched online in 2011, and six years later, the sales volume has exceeded five hundred million US dollars.

At the end of July this year, The RealReal completed a $115 million G round of financing. The total amount of financing has reached US $288 million. It has become the second most frequently used consignment website with the largest investment.

Second hand luxury consignment platform redefines the purchase mode of luxury goods. In the future, as people's attitude towards second-hand luxury is becoming more and more open, the luxury industry will usher in a new "game rule".