The RealReal 2021 Luxury Resale Report Reveals Record Growth and Rising Trends
August 26 2021 - 10:00AM
The RealReal (Nasdaq: REAL) —the world’s largest online marketplace
for authenticated, resale luxury goods—today released its 2021
Luxury Resale Report. The report charts the current state of luxury
resale, including COVID’s lasting impact on how people are buying
and selling, based on the behaviors of The RealReal’s 23+ million
members and the data behind its 19+ million items sold.
More people bought and sold into the circular economy over the
past year than ever before — 29% of buyers made their first ever
pre-owned luxury purchase in the past year and 45% of The
RealReal’s new consignors in the first quarter of this year had
never consigned before. Shoppers are becoming increasingly
conscious consumers, with ~40% of The RealReal’s shoppers turning
to luxury resale as a replacement for fast fashion and 43% of
buyers citing sustainability as a key driver to embrace luxury
resale.
“Luxury resale is experiencing record growth, with 6 million new
members joining The RealReal since the end of June last year,” said
Rati Sahi Levesque, President of The RealReal. “We’re seeing
evolving COVID restrictions and reopenings significantly impacting
shopping behaviors. Savvy shoppers are latching onto luxury
investments, with the most significant growth among millennials and
Gen Z — whom our data suggests will be the most conscious shoppers
yet. Shoppers are also drawing inspiration from the past, driving
demand for heritage streetwear and vintage Japanese
menswear.”
Trends that have risen to the top in 2021:
- Gucci is the most bought and sold brand of the
year
- Purchases increased +62% and consignments grew +61%
year-over-year (YoY)
- Gen X, the original thrifting generation, are Gucci’s No. 1
buyers and consignors
- Telfar is the emerging brand of the year
- Demand skyrocketed +590% YoY, driven by a 9X YoY increase in
bag demand
- Unbranded is the high-value “brand” of the
year
- Unbranded jewelry ranked No. 2 (second only to Chanel) among
most purchased high-value brands
- Gen Z’s love of resale levels up to luxury
- The greatest growth in both buyers and consignors was among Gen
Z, up +33% and +86% YoY, respectively
- Vintage handbags are the new smart investment
- Average selling prices (ASP) grew significantly faster for
vintage styles than their modern counterparts
- Gucci Jackie led the pack, with vintage ASP up 2.2X more than
modern
- Watch collectors are expanding their collections and
trading up
- Watch enthusiasts bought 1.4X more watches than they sold, and
invested $1,643 more per watches this year
- Streetwear moves beyond the hype
- Mainstays like Yeezy and Supreme fell out of favor as shoppers
returned to streetwear’s preppy roots and blended the outdoors into
their street style, driving major YoY growth for brands like
Casablanca (+358%) and Salomon (+188%)
To see the full breakdown of current trends in luxury resale,
view The RealReal’s 2021 Luxury Resale Report.
About The RealReal Inc.The RealReal is the
world’s largest online marketplace for authenticated, resale luxury
goods, with more than 23 million members. 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 hundreds of 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 thousands
of brands across numerous categories—including women's and men's
fashion, fine jewelry and watches, art and home—in support of the
circular economy. We make selling effortless with free virtual
appointments, in-home pickup, drop-off and direct shipping. We do
all of the work for consignors, including authenticating, using AI
and machine learning to determine optimal pricing, photographing
and listing their items, as well as handling shipping and customer
service. At our 17 retail locations, including our 14 shoppable
stores, customers can sell, meet with our experts and receive free
valuations.
Press Contact:Erin Santypr@therealreal.com
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