The RealReal’s Annual Resale Report Reveals Top Trends in Luxury Resale
August 25 2020 - 7:00AM
The RealReal (Nasdaq: REAL)--the world’s largest online marketplace
for authenticated, consigned luxury goods--today released its
annual Resale Report. Based on sales and demand data from more than
17 million members and millions of items sold, the report charts
the current state of luxury resale and COVID-19’s impact on what
consumers are buying and selling.
Despite the current economic climate, shoppers doubled down on
safer investments from established luxury brands offering timeless
styles and strong resale value. Sales growth of high-value items,
across numerous categories, outpaced that of low-value:
- High-value jewelry sales grew 22x more than low-value
- High-value handbag sales grew 2.4x more than low-value
- High-value watch sales grew 6x more than low-value
For the second year in a row, Gucci and Louis Vuitton remain the
most in-demand brands within luxury resale. Louis Vuitton edged its
way over Gucci for the No. 1 spot for the first time, while Gucci
remains the No. 1 Men’s brand for the third year in a row. Driven
by a surge in demand for millennials and Gen Z, both brands
continued to strengthen their lead over No. 3 brand Chanel.
“In a bright spot during these difficult times, brands, shoppers
and consignors alike are engaging in the circular economy,” said
Rati Levesque, COO and head of merchandising for The RealReal. “Gen
Z, millennials and men are the new faces of luxury shopping, and
the brands in tune with what they want are rising to the top.”
Other trends that rose to the top during COVID-19*:
Stealth luxury favored over logomania:
- Demand for understated handbags was nearly 5x stronger than
that of statement handbags
- Sales for quieter men’s styles grew 2.4x more than statement
styles
Stealth luxury favored over logomania:
- Demand for understated handbags was nearly 5x stronger than
that of statement handbags
- Sales for quieter men’s styles grew 2.4x more than statement
styles
Buyers embrace luxury labels’ streetwear
designs:
- Balenciaga becomes No. 1 brand in streetwear
- Demand for luxury streetwear spiked 486 percent in the past two
years
Buyers and sellers turn to Home/Art like never
before:
- Art consignment was up 150%
- Customers spent 26 percent more on home items compared to
apparel, quarter-over-quarter
As brick-and-mortar came to a standstill, brands and retailers
turned to luxury resale to connect with buyers and give new life to
pieces past and present – interest increased 22x during
COVID-19.* For consumers, economic uncertainty, heightened
environmental consciousness and access to virtual appointments
strengthened resale’s appeal. New consignors during COVID-19*
increased 27 percent, of which 37 percent were millennials and Gen
Z.
*During COVID-19 measures change from March/April to May/June
2020
About The RealReal, Inc.The RealReal is the
world’s largest online marketplace for authenticated, consigned
luxury goods. With a rigorous authentication process overseen by
experts, The RealReal provides a safe and reliable platform for
consumers to buy and sell their luxury items. We have 150+ in-house
gemologists, horologists and brand authenticators who inspect
thousands of items each day. As a sustainable company, we give new
life to pieces by hundreds of brands, from Gucci to Cartier,
supporting the circular economy. We make consigning effortless with
free in-home pickup, drop-off service, virtual appointments and
direct shipping for individual consignors and estates. At our
stores in LA, NYC and San Francisco, customers can shop, consign,
and meet with our experts. At our 10 Luxury Consignment Offices,
four of which are in our retail stores, our expert staff provides
free valuations.
Press Contact:Erin SantyHead of
Communicationspr@therealreal.com
Investor Relations Contact:Paul BieberHead of
Investor Relationspaul.bieber@therealreal.com
RealReal (NASDAQ:REAL)
Historical Stock Chart
From Jun 2024 to Jul 2024
RealReal (NASDAQ:REAL)
Historical Stock Chart
From Jul 2023 to Jul 2024