RealReal, the world’s largest online marketplace for pre-owned luxury items, said that Gucci is the most bought and sold brand in its most recent Luxury Resale Report, which was released in January of this year.
The research examines the present status of luxury resale, including the pandemic’s long-term influence on how people purchase and sell, based on the purchasing and selling habits of The RealReal’s 23+ million users and the data gathered from its 19+ million goods sold.
Gucci is the most purchased and sold brand in the world this year.
Purchases climbed by 62 percent and consignments jumped by 61 percent year on year, according to the business. Gucci’s top purchasers and consignors are members of Generation X, the first thrifting generation. Louis Vuitton, Chanel, Prada, and Dior rounded up the top five most valuable fashion houses.
Telfar is the year’s most promising new brand, with demand for their bags increasing by 590 percent. Despite the fact that streetwear has lost its luster, with mainstays like Yeezy and Supreme falling out of favor as shoppers returned to streetwear’s preppy roots and blended the outdoors into their street style, driving major growth for brands such as Casablanca, which saw a 358 percent increase in sales, and Salomon, which saw an increase of 188 percent in sales.
Embracing the circular economy is important.
According to a press release, more individuals have purchased and sold into the circular economy in the past year than at any other time in history, with 29 percent of purchasers making their first pre-owned luxury purchase in the past year. In the first quarter of this year, 45 percent of The RealReal’s new consignors were people who had never consigned before.
RealReal’s shoppers are growing more environmentally concerned, with 40 percent of their purchases replacing fast fashion, and 43 percent of purchasers identifying sustainability as a major factor in their decision to shop for premium secondhand clothing.
According to Rati Sahi Levesque, President of The RealReal, “luxury resale is witnessing unprecedented growth, with 6 million new members joining The RealReal since the end of June last year.” “We are seeing an increase of Covid bans and reopenings, which are having a substantial influence on shopping patterns. Luxury investments are becoming increasingly popular among savvy buyers, with the most substantial rise occurring among millennials and Generation Z – who, according to our statistics, will be the most environmentally conscientious shoppers yet. As well as being inspired by history, shoppers are increasingly turning to vintage streetwear and vintage Japanese menswear.”