The RealReal 2022 Luxury Consignment Report Tracks Luxury Resale Adoption Across All Ages
January 13 2022 - 10:00AM
The RealReal (Nasdaq: REAL) — the world’s largest online
marketplace for authenticated, resale luxury goods — today released
its 2022 Luxury Consignment Report. Following a year of growing
resale adoption by every generation, the report charts the trends
and behaviors driving the greatest resale value gains and losses.
The report is powered by data derived from The RealReal’s more than
24 million members and more than 22 million items sold.
As the way people shop
changes, The RealReal’s data shows it’s having a direct impact on
the resale market. As shoppers become more conscious consumers,
they’re turning to resale to shop their values: 40% of TRR shoppers
are replacing fast fashion with resale and 43% shop resale because
it’s more sustainable. Primary market supply constraints are
driving shoppers to explore the secondary market, with sold-out
styles attracting 50% more new buyers than standard resale
items.
“Resale has undeniably
gone mainstream, and the luxury sector has one distinction that
sets it apart: every demographic actively participates in luxury
resale,” said Rati Sahi Levesque, President of The RealReal. “From
Gen Z to the Silent Generation, every demo increased its adoption
of secondhand luxury in 2021, and nearly every brand saw rising
resale value as a result.”
Highlights from the
year’s top consignment trends include:
- The Items First-Timers Shop
& Sell Are Universal
- Gucci is the #1 brand and dresses
are the #1 item sold by first-time consignors and bought by
first-time shoppers
- Gen X is driving the
generational closet swap
- Gen X is selling vintage pieces
forward to Millennials and Gen Z shoppers discovering them for the
first time
- It’s still your mother’s
Tiffany
- While the brand’s average sale
price (ASP) rose 23% year-over-year (YoY), its heavy push to appeal
to a younger audience hasn’t shifted its No. 1 resale demo away
from Gen X
- Vintage and unbranded
jewelry sets new value records
- Desire for unique pieces with
character is driving vintage jewelry and watch resale value up to
2-3x more than current collections
- Unbranded jewelry continues to rise
in demand, with a $350,000 unbranded engagement ring becoming the
most expensive item ever sold on TRR
- High-value sneakers see
greatest resale value gains
- ASP for high-value Nike sneakers
grew +32% YoY, 2X more than any other brand
- New Balance sneaker collabs top the
list of what to sell now, with a resale value of up to 387%
To see the full
breakdown of current trends in luxury resale, view The RealReal’s
2022 Luxury Consignment Report.
About The
RealReal Inc.The RealReal is the world’s largest online
marketplace for authenticated, resale luxury goods, with more than
24 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 18 retail
locations, including our 15 shoppable stores, customers can sell,
meet with our experts and receive free valuations.
Press Contact:Erin
Santypr@therealreal.com
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