The RealReal today releases its 2018 midyear State of Luxury Resale report providing a window into the consumer’s mind-set and the brands and styles being bought and sold, and in typical fickle-style fashion, what was hot a short time ago, now, is not.
“Luxury resale is becoming bigger and more mainstream than ever,” said Rati Levesque, The RealReal’s chief merchant,” adding that the industry and public look to the online and brick-and-mortar retailer for insight into consumer behavior and clues as to what the brands’ customers are coveting most.
Perhaps the most salient finding is that Gucci rose from third in the overall rankings to capture the number-one spot, toppling Chanel, which was in first place last year, and Louis Vuitton, which was in the number-two position. Gucci, under creative director Alessandro Michele, grew 62 percent among all age groups in the first half of the year. The brand is growing 48 percent faster among Millennials than other age groups. However, Hermès is the fastest-growing brand among Millennials, with a 71 percent increase among shoppers ages 18 to 34.
There have been shifts in consignment resale value of brands such as Tory Burch, which declined 34 percent; Vetements has fallen 22 percent as consumers buy Balenciaga for Demna Gvasalia‘s latest designs, and Johanna Ortiz, down 27 percent due to competition from lower-priced brands offering similar styles.
Logos are making a strong comeback, in particular, certain logo-heavy styles are seeing an uptake in resale value, such as the Dior saddlebag, 89 percent; Gucci Web, 51 percent; Fendi Zucca, 32 percent, and Louis Vuitton Montsouris, 26 percent. Meanwhile, the resale value of past-season designs lacking logos declined, including Fendi 2Jours, 21 percent; Balenciaga Motocross, 14 percent; Chloé Faye, 20 percent, and J.W. Anderson Pierce, 14 percent.
The top three brands bought by men were Rolex, Gucci and Louis Vuitton, while the top three labels consigned by men were Gucci, Louis Vuitton and Hermès. Men’s brands trading upward included Gucci, ahead 21 percent; Amiri, 17 percent, and Balenciaga, 16 percent. In the negative column were Vetements, down 20 percent; Balmain, 17 percent, and Bottega Veneta, 7 percent.
The RealReal said dad-style is in demand among men as designers turn frumpy jeans and clunky sneakers into cool sought-after items. Hawaiian shirts are soaring with an 84 percent increase in demand, dad hats are up 67 percent, and fanny packs are up a whopping 614 percent.
When it came to kicks, one brand that rules the U.S. is Yeezy, according to The RealReal survey. But not all parts of the country opted for Kanye West‘s footwear. Boston, New York, Chicago, Miami, Los Angeles and San Francisco voted for Yeezy x Adidas low-tops; Philadelphia favored Gucci low-tops; Dallas, Gucci high-tops, and Houston, Christian Louboutin high-tops.