The RealReal 2019 Second-hand Luxury Report

On August 14, The RealReal, a US second-hand luxury consignment website, published the 2019 Second-hand Luxury Consignment Report.

Gucci is the most popular luxury brand in the millennial generation

According to the report, on the RealReal platform, the top three luxury brands in 2019 were: Gucci, Louis Vuitton and Chanel. The fourth to tenth luxury brands are: Prada, Hermès, Fendi, Christian Dior, Valentino, Christian Louboutin and Balenciaga (Paris family).

Among them, Balenciaga successfully squeezed out Celine and entered the top ten in the search rankings for the first time.

Gucci demand increased by 78% year-on-year, and the demand growth of 18-34 year-old consumers was 2.3 times that of other consumers.

Rati Levesque, Chief Operating Officer of The RealReal, said: “Gucci has become the most popular brand of millennials, and its brand values ​​have been resonated with millennials, such as promoting anti-fur and gender equality.”

Among the many luxury brands, Balenciaga has the fastest growth in demand, up 102% year-on-year. Followed by Dior and Fendi, demand increased by 99% and 89% year-on-year.

For the specific keywords, the top three fastest-growing searches were: Gucci mini handbags (up 544% year-on-year), card issuance (up 378% year-on-year), and tie-dye apparel (up 364% year-on-year).

Although the market is not very optimistic about the prospects of streetwear, its demand growth rate remains high, up 281% year-on-year, of which 38% are consumers aged 18-34.

Among the many streetwear brands, Yeezy ranked first in the search rankings, followed by Off-White, Nike, Supreme and adidas. The fastest growth in search was Palm Angels, which grew by 1720% year-on-year, followed by Off-White x Nike and Bape, which increased by 1660% and 958%, respectively.

In terms of specific streetwear categories, the fastest-growing demand was in fighting, sports shoes and overalls, which increased by 365%, 213% and 111%, respectively.

In terms of sports shoes brands, Yeezy is the fastest-growing brand, with a 662% year-on-year increase, followed by Replica Gucci sneakers, Balenciaga, Nike and Golden Goose.

Home products are also logo first

In addition, according to the report, in the home field, consumers also have a soft spot for the logo of luxury brands. The average selling price of brand-name second-hand household products with logo is 1.3 times without logo; the growth rate of second-hand household products with logo is 5.5 times without logo. In the home sector, the most popular brands and products are:

Hermès: Avalon Blanke blanket
Goyard: Goyardine dog collar
Chanel: CC pillow
Gucci: GG pattern blanket
LV: mini letter combination jewelry suitcase smart watch scenery no longer

Second-hand watch growth remained strong, up 132% year-on-year. However, second-hand smart watches have performed poorly, and the demand for Apple watches has dropped by 94% year-on-year, which means that the attractiveness of smart watches to second-hand users has been greatly reduced.

In addition to the trends in brands and products, The RealReal's report also shows that value preservation is the most important selling point for second-hand luxury goods sales. According to the report, on The RealReal's platform, 82% of buyers and 57% of sellers believe that one of the important reasons for their choice to use The RealReal is high value.

Recently, The RealReal announced the company's first financial report after the listing: the total net sales in the second quarter of 2019 increased by 51% year-on-year to 71 million US dollars, The RealReal share price rebounded strongly, until the opening of the US time on August 14 The previous trading price was up 10.35% from the previous day's closing price to $18.76. (For details, see "Glory" report: The first quarterly report of the US second-hand luxury goods leader The RealReal released after the listing: net sales rose 51%, the stock price rebounded strongly)