Gucci has solidified its position as a powerhouse in the resale market, thanks in large part to the influence of Millennials. The latest Luxury Resale Report 2019 from TheRealReal has confirmed that Gucci is at the top of the charts, with Louis Vuitton and Chanel closely trailing behind. The report revealed that the demand for Gucci has surged by 78% from the previous year, particularly among consumers aged 18-34. This significant growth can be attributed to Gucci’s strong brand values and its unique, maximalist style that resonates with younger generations.
In addition to Gucci, other luxury brands such as Balenciaga, Dior, and Fendi have also experienced impressive growth in demand. Balenciaga, in particular, saw a remarkable annual growth rate of 102%. The report highlighted various emerging trends in the resale market, including the increasing popularity of mini bags, hair clips, tie-dye, neon, blazers, and cardigans. Streetwear remains a hot category in resale, with a whopping 281% increase in demand year-over-year. Brands like Yeezy, Off-White, and Nike are among the top searched streetwear brands, while Palm Angels saw an incredible growth rate of 172%. Bucket hats and cargo pants have also seen a significant rise in demand, reflecting the ongoing revival of 90s fashion trends.
Moreover, sneaker brands such as Yeezy, Prada, Balenciaga, Nike, and Golden Goose have all experienced substantial growth in demand, with Yeezy leading the pack with a remarkable 662% increase. The trend of logomania has now extended beyond apparel to home items, with logoed home products witnessing a 5.5 times increase in resale value compared to those lacking logos. Louis Vuitton, Hermès, Goyard, Gucci, and Chanel are the most sought-after brands in the home category. However, smart watches like Apple Watches have experienced a decline in interest, with searches dropping by 94% year over year.
The report also highlighted a growing interest in sustainability among consumers, with 82% of customers and 57% of consignors citing sustainability as a crucial factor in their decision to use TheRealReal. Many shoppers are turning to resale as a sustainable alternative to fast fashion, seeking more environmentally friendly shopping practices. With an increasing number of consumers embracing resale, TheRealReal’s analytics capabilities are becoming even more valuable in identifying trends and consumer preferences in the resale market.
For more information on luxury resale trends, you can check out TheRealReal’s Luxury Resale Report 2019 here. Additionally, to explore sustainable shopping options, visit TheRealReal’s sustainability page here.
