The RealReal Issues First-Ever Luxury Consignment Report
January 13 2021 - 7:00AM
The RealReal (Nasdaq: REAL)--the world’s largest online marketplace
for authenticated, consigned luxury goods--today released its 2021
Luxury Consignment Report. The report charts the top 2020 trends
and shifts impacting luxury resale value, which The RealReal
determines based on advanced technology, its real-time pricing
algorithm that factors up to 50 attributes per item across ~16
million items sold, and human expertise.
Despite the unpredictable fluctuations
of 2020, more people adopted consignment than ever before —
especially Gen Z and Millennials, who represented 35% of new
consignors. Consignors helped make fashion more sustainable by
keeping pieces in circulation, with the average consignor saving
the equivalent of 4,333 glasses of water.
“The pandemic has had a lasting impact
on the resale market and, through the challenges of the past year,
we’re seeing a mindset shift among our ~20 million members towards
investing in, and living by, what we truly value,” said Rati
Levesque, COO of The RealReal. “Investment pieces, the new capsule
wardrobe essentials, and late ‘90s to early ‘00s vintage are the
top trends yielding rising returns to sellers. As we enter a new
year, the record numbers of consignors joining the circular economy
are a bright spot paving the way to a more sustainable fashion
future.”
Consignment trends that rose to the
top in 2020:
- Goyard topped the list of the top 10 luxury
brands
- Patek Philippe rose most in the ranking of brands with the
greatest resale value – up three spots from last year
- Demand for high-value bags skyrocketed
- Average selling price rose up to 80% for in-demand styles
- Gucci was #1 in vintage
- Resale value grew another 12%
- Rolex strengthened lead as #1 watch brand
- 5 of top 10 men’s watches with greatest resale value growth
were Rolex
- Capsule wardrobe essential were redefined
- Gender-fluid staples including puffer coats and waist bags
dominated
To see the top luxury consignment
trends of 2020 and learn more about how consignors can earn the
most in 2021, view The RealReal’s 2021 Luxury Consignment
Report.
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 Chicago, Los Angeles, New
York City, Palo Alto and San Francisco, customers can shop,
consign, and meet with our experts. At our 11 Luxury Consignment
Offices, six of which are in our retail stores, our expert staff
provides free valuations.
Press Contact:Christine
Heerwagenpr@therealreal.com
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