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Nike, hermes, rolex best value growth in second hand fashion market, according to the realreal

best value growth in second hand fashion market

At the beginning of 2022, the company that owns the second-hand, transferable fashion sales platform The RealReal has just published a report on shopping trends over the past year. This report includes a variety of metrics, such as age-specific shopping trends, best-selling product categories, and popular brands. Thereby helping people understand more about shopping trends in the transfer market, second-hand is considered a sustainable development trend for the fashion industry.

Nike, hermes, rolex best value growth in second hand fashion market, according to the realreal

The big trends in the second hand fashion market of 2021 are estimated to last into 2022

Based on a huge number of users of 24 million members, The RealReal has an overview of the second hand fashion market. According to the company, the most concerning trends are:

  • 40% of the customer group is looking to change their fast fashion shopping habits wildly. They look to second hand fashion, in 2021-2022, instead. And 43% of total customers choose second hand fashion because they think it is a more environmentally friendly way of shopping.
  • The top 3 most popular fashion brands are Gucci, Prada and Louis Vuitton, with the highest number of hand-carried items.
  • Meanwhile, the brands with the most growth in value are Nike, Rolex, Bottega Veneta and Hermès. Next to it is Chrome Hearts (a streetwear brand from Los Angeles).
  • The athletic footwear segment is, overall, the region with the largest value growth. Products that come from limited edition collections, sold out in the market, are often the most popular. New Balance’s limited edition collections, for example, can fetch up to 387% above market value.

Commenting on the development of the second hand fashion market, The RealReal President Rati Sahi Levesque said: “Fashion transfers are now widely accepted. In particular, in 2021, in the luxury fashion market, customers of all age segments are involved in the transfer process.”

The report from The RealReal discovers that each customer segment has a unique interest.

  • Gen X customers (born 1965 – 1980) are most interested in sustainable development and environmental protection. They are also the group that sells the most vintage products, which are sought after by Millennials and Gen Zs – especially when the nostalgia trend takes over. Products from the 1990s are especially popular, such as a Vivienne Westwood corset or a vintage Prada jacket.
  • Millennial customers (born 1981 – 1996) are often the group that values ​​business ability with second hand goods. Their biggest purpose when selling is to invest in new items for their wardrobe. Thus, they can continuously own new items but do not fall into the state of “inflammation of the bag”.
  • Even Baby Boomers (born 1946 – 1964) also participate in the second hand fashion market. Their main purpose is to clear out the closet and sell the products that are no longer needed.
  • Gen Z group (1997 – 2012) is the fastest growing customer in the field of second hand high-end fashion shopping. For many of them, the second hand market is the first place where they get their first designer piece.

The beauty of the transfer movement is that a product that, to one person may be old, becomes a precious object to another. Thanks to the rise of the second hand fashion market, vintage items are not wasted and can reach young fashion lovers.

The publisher of this report, The RealReal is just one of the trusted platforms for second hand fashion shopping. The RealReal is the world’s largest online platform for the sale of second hand luxury fashion, with 24 million members, trusted for having a very accurate system of testing and distinguishing counterfeit goods.

Besides The RealReal, some other reliable platforms include Rebag, Vestiaire Collective, Farfetch Second Life. Besides, fashion brands also open their own vintage sales system, such as Coach, Mulberry, Levi’s…

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