Asia’s leading online luxury retailer investigates shifts in the luxury landscape
Reebonz, Asia’s leading online luxury retailer has launched its second edition of the 2017 Asia Luxury Index.
In its second edition, the key trends were observed were a steep sales growth in shoes and apparels with sneakers and outerwear taking the lead, a new breed of millennial shoppers dominating the pre-owned sector, the altered state of resale and its biggest gainers in terms of sales growth, investment-worthy brands and the stronghold that Hermès continues to have in the secondary market.
The report takes a look at into the emergence of the millennial shopper that has tilted the scales in favour of a pre-owned luxury market. This can be proved with Chanel having been the top purchased pre-owned brand by millennials, saw the number of bags sold almost double from 2016 to 2017.
This changing perception towards pre-owned luxury has certainly altered the state of resale, contributing to a 40% sales growth in the pre-owned category at Reebonz. The growing demands of buying from the resale market cleverly gives rise to a community of individual sellers, injecting the luxury ecosystem with products that meet these needs.
The report establishes the 10 most investment-worthy brands that fetch resale values as high as 125% of their original retail price in the secondary market. The top three most valuable brands, Louis Vuitton, Hermès and Chanel.
Hermès stronghold in the secondary market and the average increase in resale value across Birkin models is charted in the above.
In the report, it can be seen that consumers show increased leanings away from the traditional notions of luxury. Instead, a search for greater luxury
value and experience become inherent.