The Gen-Z is leading the trend of "shopping to sell” designer fashions, according to The RealReal Inc.’s 2022 Luxury Resale Report.
Consumers 25-years-old-and-younger see resale shopping as something of a sport, buying used luxury goods with the goal of selling them later at higher prices.
The trend has become particularly popular as inflationary woes mount, the report said.
The RealReal, an online consignment platform, saw a 50% jump in the first half of this year in the reselling of items bought on the site by Gen-Z customers, according to Sasha Skoda, senior director of women’s merchandising at the company.
"What’s really interesting about this cohort is that they’re reselling what they buy much faster than any other demo,” she said in an email.
Top labels sold by Gen-Zs include Prada and Reformation. One bought in greater numbers was Balenciaga, as promotions with celebrities Kim Kardashian and Justin Bieber raised the profile of the brand.
For jewellery, Cartier ranks high.
Gen-Z consumers are also gravitating to breezier styles like mini-skirts versus more traditional pants preferred by Millennial shoppers. – Bloomberg