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The RealReal<\/strong> is the world’s largest online marketplace for authenticated and resold luxury goods, with over 23 million members. Based on national research conducted by Lisa W. Miller & Associates Research, a study identifies key changes in luxury buyer<\/strong> behavior and their impact on retail and resale.<\/strong><\/p>\n <\/p>\n “While the luxury resale market continues to evolve, its growth is significantly higher than the primary market<\/em>,” said Orr Shakked<\/strong>, director of marketing for The RealReal. “There is a distinct division in resale, with only five marketplaces, including The RealReal, having significant aided awareness. In fact, The RealReal has seen a 14-point increase in awareness since 2019, more than 50 percent higher than all other 24 resale brands surveyed<\/em>.”<\/p>\n <\/p>\n Outlets and department stores saw the largest declines in luxury purchases, down -10 pts and -7 pts since 2019. At the same time, luxury resale has attracted more new buyers since 2019<\/strong> than all previous years combined, and 48% luxury buyers plan to buy luxury resale products<\/strong>, up 6 pts since 2019.<\/p>\n <\/p>\n Resale purchase intent is up across all luxury categories and especially jewelry and watches (+13 pts and +12 pts since 2019). Of the 24 resale players surveyed, only these five players have awareness above 30%: eBay, Poshmark, thredUP, The RealReal and Sotheby’s.<\/p>\n <\/p>\n “Resale has seen record growth over the past two years, but only 24% of luxury buyers are currently purchasing pre-owned pieces. Bringing more new buyers and consignors into the circular economy is critical to creating a more sustainable future for fashion<\/em>,” said Julie Wainwright<\/strong>, founder and CEO of The RealReal. “Over the past two years, we’ve seen a 13 percent increase in the number of The RealReal buyers who cite sustainability as a deciding factor in their purchases. It’s critical that we continue to raise awareness about the negative impact fashion has on the environment and see resale as a solution each of us can embrace to help reduce the amount of textiles that are landfilled or burned every second.<\/em>”<\/p>\n <\/p>\n On the other hand, male shoppers represent luxury’s biggest growth opportunity<\/strong>. In fact, men are nearly 3 times more likely to purchase luxury goods exclusively.<\/p>\n <\/p>\n <\/p>\n Read Also > THE REAL REAL\u2019S NEW ECO-FRIENDLY STORE IN ATLANTA<\/a><\/p>\n <\/p>\n Featured Photo : \u00a9 The Real Real[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]<\/p>\n <\/p>\n The RealReal<\/strong> is the world’s largest online marketplace for authenticated and resold luxury goods, with over 23 million members. Based on national research conducted by Lisa W. Miller & Associates Research, a study identifies key changes in luxury buyer<\/strong> behavior and their impact on retail and resale.<\/strong><\/p>\n <\/p>\n “While the luxury resale market continues to evolve, its growth is significantly higher than the primary market<\/em>,” said Orr Shakked<\/strong>, director of marketing for The RealReal.<\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\n<\/h4>\n
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The Real Real has released a “Luxury Shopper Insight” study on luxury consumer habits and finds that shopping patterns have changed drastically over the past two years.<\/h4>\n