Luxury resale market helps brands recruit new fans

in luxury •  last month 

Luxury resale market helps brands recruit new fans (Fashion Network)

  • Interesting report from Vestiaire Collective and BCG which highlights three reasons that brands should be leaning into the growing luxury resale trend.

  • The study found that 62% of those surveyed said that they bought a brand that they liked for the first time on the second-hand market, with almost the same percentage saying that they would purchase items from the same brand again.

Analysis and Comments

  • The key message, which applies equally to retail & high end personal care, is that trying to avoid your product being sold in the “secondary markets” is not the issue it once was.

  • As the article highlights, the resale market can help bring new consumers into your brand, generate cash for sellers that can be recycled back into buying new products & (slightly more cynically) it can help companies enhance their green credentials

  • This issue is also part of a wider requirement for producers of more premium product to move to a more digital delivery – a company that does this well is Estee.

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