The 2024 Luxury Resale Report: The RealReal Reveals Top Brands and Trends Shaping the Market
August 21 2024 - 8:00AM
The RealReal – the world’s largest online marketplace for
authenticated, resale luxury goods — today released its seventh
annual 2024 Luxury Resale Report. This comprehensive report uses 13
years of data to examine the current state of luxury resale, delves
into the shopping and consignment behaviors of The RealReal’s more
than 37 million members, and spotlights key trends shaping demand
and resale value for luxury’s most sought-after brands and items.
Investment-worthy pieces such as high-value fine
jewelry and timeless handbags dominated, alongside trends ignited
by TikTok and the revival of nostalgic TV shows in the cultural
spotlight.
“Fashion is undergoing a seismic shift. Trends less frequently
flow from the top (runways), and are now emerging from the ground
up through things like TikTok, television shows, and everyday
street style,” says The RealReal’s President & Chief Operating
Officer, Rati Sahi Levesque. “This unprecedented collision of
fashion and culture is empowering consumers to shape trends
themselves, driving demand for unique, high-value items that
reflect their personal style. They’re looking to invest in quality
more, especially during a time of economic insecurity…It’s no
longer about what’s new being what’s next—it’s about what’s going
to last. More than ever, shoppers are curating their wardrobes with
a focus on distinctiveness and enduring value.”
Key themes explored in this year’s report include:
Top 10 Most Searched Brands Have Something in Common -
Universality
- Bags men want to carry (men’s bag
searches +900% YoY), styles that appeal to Gen Z & Boomers
alike, and more, are paying off big for the top 10.
- Prada is Gen Z’s most searched brand and snags the #3 spot on
the list.
- Chanel & Gucci handbags are the
#1 & #2 most searched items; brands snag spots 2 & 4 on the
list.
Buyers Went Big (and Maximalist) with Fine
Jewelry
- Fine jewelry saw the biggest growth of
any category; amidst economic uncertainty, consumers gravitated
toward these pieces, with guaranteed ROIs and staying power.
- Sales +22% YoY for pieces $5,000+
by Van Cleef & Arpels, Tiffany & Co., & Cartier.
And Sought Out (More) Attainable Handbags
- Handbags priced $1,000-3,000 saw the
biggest spike in buyer growth, +13% YoY.
- Buyers focused on good investments;
average resale value for The Row Margaux +44% YoY, Loewe Puzzle
average selling price is at an all-time high (+40% since 2020)
Vintage Went Mainstream
- Formerly niche brands like Issey
Miyake (searches +100% YoY) and Vivienne Westwood (sales +35% YoY),
once reserved for the in-the-know crowd, have surged into the
mainstream.
- And a new guard, for those looking to be early adopters,
emerged; collective sales of Claude Montana, Courrèges &
Romeo Gigli +59% YoY.
- Throwback TV drove strong demand
for Gen Z, making muses out of Carrie Bradshaw and Carmela
Soprano.
Street Went C-Suite
- YoY Sales were down 25-35% for classic
streetwear brands and pieces — Supreme, Off-White, Nike Jordans —
yet jumped by 25% for suiting.
- YoY Vintage sales from brands known
for their business-esque attire soared: Donna Karan
+216%, Gianfranco Ferré +270%, St. John +163%.
We’re Predicting 2025’s ‘Mob Wife’...
- Combining boho and
utilitarian styles — YoY searches for vintage Diesel +917%, Levi’s
+69%, Chloe culottes +113%, Dôen dresses +50%, fringe
leather +68% — ‘New Americana’ is likely to dominate culture.
Meeting Customers Where They Are… We Debuted a New
Condition Category
- 73% of TRR shoppers say ‘value’ is the
#1 reason they shop the site.
- ‘As Is,’ our newest, most
accessible, and well-loved condition category, keeps more luxury
items out of landfills and gives shoppers something to make totally
their own.
To view The RealReal’s full 2024 Luxury Resale Report, visit
TheRealReal.com.
To download imagery from the report, courtesy of The RealReal,
click here.
About The
RealReal Inc.The RealReal is the world’s largest online
marketplace for authenticated, resale luxury goods, with more than
37 million members. With a rigorous authentication process overseen
by experts, The RealReal provides a safe and reliable platform for
consumers to buy and sell their luxury items. We have hundreds of
in-house gemologists, horologists and brand authenticators who
inspect thousands of items each day. As a sustainable company, we
give new life to pieces by thousands of brands across numerous
categories—including women’s and men’s fashion, fine jewelry and
watches, art and home—in support of the circular economy. We make
selling effortless with free virtual appointments, in-home pickup,
drop-off and direct shipping. We do all of the work for consignors,
including authenticating, using AI and machine learning to
determine optimal pricing, photographing and listing their items,
as well as handling shipping and customer service.
Press Contact:Mallory
JohnstonHead of PRmallory.johnston@therealreal.com
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