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Luxury resale is here to stay, we all know that by now. The second-hand luxury business is expected to grow by up to 10 percent annually in the coming years, according to Berenberg, which is more than twice the projected pace of growth of the (still larger) primary market.
This primary market is starting to realize resale is here to stay, and new partnerships and services arise. Luxury brands team up with resellers to cater for a new audience; often millennial, interested in brand heritage, championing recycling, seeking bargains and not so bothered about owning things per se.
There’s also more and more research into resale consumer habits. Vestiaire Collective, one of the leading luxury resale sites, recently released a report on global selling behavior among their customers. It showed, among a lot of things, that while a majority of customers sell to clear out items they no longer wear, a lot of them sell to be sustainable or to further fund pre-owned purchases.
This is interesting because it is, at least possibly, a move towards a circular mindset. With a demand to access and interact with luxury products, customers move towards a sharing economy with the mindset of contributing to the pre-owned economy instead of just buying new things.
Except for these bigger tendencies the report implies, it also makes fun reading. At Vestiaire Collective, the French sell items most frequently, while the Italians sell more items than any other market per year. The Germans keep their items for the longest time and name sustainability as one of the main purposes for reselling, while sellers in Hong Kong make the most money out of their resales.
And–sweet news for a longevity campaigner–timeless pieces are the most popular ones. The Chanel Timeless is the most selling accessory.


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