Why is the demand for used premium clothing growing?
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Global sales of used expensive clothing are growing. In 2023, the segment grew by 18% to almost $200 billion. By 2025, it could occupy 10% of the global fashion market, writes The Guardian, citing a GlobalData study. In the US, for example, resale grew seven times faster than luxury retail last year. How popular is vintage clothing in Russia? And what determines the demand for it? Details from Alexander Mezentsev.
In the United States, experts explain the popularity of vintage items, first of all, by the general rise in prices and the environmental agenda. In Russia, the demand for used expensive clothing is also growing, more than doubling on some services. However, analysts say the main driver for the development of the secondary market is the lack of original luxury brands on sale.
However, the economic factor is also important, noted Vladimir Evladov, founder of the Luxxy.com marketplace: “Of course, growth will continue. The main driver of the resale market is automation, digitalization of the entire user journey, purchases and sales. Our environmental agenda, according to research, is one of the last places in the priority choice of the end consumer.
The desire to save money or increase your level of consumption is at work. A mechanism is activated to switch to more expensive brands that people in the boutique have never bought.”
A GlobalData report found that in 2023, more than half of global consumers bought used clothing. However, despite the significant increase in demand, it is becoming increasingly difficult for specialized stores to make money. US vintage luxury clothing platform Thredup recorded a loss of almost $2 million last year, according to media reports.
However, in Russia the resale market is much more in demand, says Anna Bakhireva, the creator of the Vshkafu.shop platform: “25-45 years old is, perhaps, the main audience that very easily parts with things and acquires them. It’s just that until recently in Russia there was a modest attitude towards this direction. For our company, resale is not unprofitable. I’m not sure that it can be unprofitable in the country, because here, after all, the demand for luxury brands is higher in relation to those countries where Louis Vuitton, Chanel, Prada, Celine are available.”
According to The Guardian, the fastest growing used clothing sector in the world is children’s clothing. However, in the luxury segment of domestic resale, accessories are in greatest demand, said Igor Kissel, founder of Vintage Voyage: “Against the backdrop of rising prices for basic luxury items, firstly, this way you can wear something, and the cost of the item only increases, and secondly , you can quickly change your images. Come to the store with a blue bag and leave with a green one. Thirdly, these items are of even better quality if we are talking about some accessories released in the 1980-1990s.
The trend of last year in resale both for us and for our colleagues was growth. Regarding trends in luxury, these are, first of all, bags and jewelry.”
As market players told Kommersant FM, the resale segment may account for 15-20% of the total revenues of the fashion industry. According to them, GlobalData statistics do not take into account cases when things are resold by acquaintance from hand to hand or on non-specialized sites.
Everything is clear with us – Telegram channel “Kommersant FM”.
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