Rollie goodness | Hodinkee
The pre-owned market is surging, reports Business Insider — further proof that today’s ‘anti-bling’ movement is just as strong as ever.
Whereas a decade ago, newness was everything, today, it’s all about curation, discovery — and owning rare finds your friends probably will never have. (And if those items have stood the test of time, well, then even better.)
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What’s driving this? A few things:
- Modern luxury shoppers are increasingly seeking value now. This passage in particular is absolutely key: “‘There’s been a major shift here over the last four to five years where people really understand value in a different way,’ [said] Alexis Clarbour, director of luxury accessory consignment site Portero.com. . . . [She] says that her customers are now seeing beyond the original purchase and considering how the value of the item will hold up if they decide to resell it. These customers aren’t seeking thrift-store bargains, either. They’re true luxury seekers — the average sale price on Portero, for example is $2,200.”
- The internet has played a HUGE part in this (especially in creating a savvier shopper). “The information available on the internet is perhaps the biggest factor for resale websites. As it becomes easier for customers to educate themselves about items like handbags, watches, and sneakers, they seek a greater value for their dollar in the luxury space. And they’d rather not be bothered by pushy salespeople in boutiques, as these savvy customers already know what they want and what it’s worth.” Key point: “This education means it’s easier than ever for customers to become enthusiasts.”
- There’s often better choice online (versus in-store). “Choice is another benefit of pre-owned luxury items. . . . If you walk into a boutique, they will only have the brand’s latest offerings, but online there’s the entire history of the company to choose from, including hard-to-find items.”
Spotted: Forerunner’s Kirsten Green makes an appearance. Here she is discussing the sneaker resale economy: “The whole ecosystem is going through a lot of change. A lot of sneaker-buying was happening in malls. And people’s shopping patterns are changing away from malls.”
