In recent years, luxury consignment shops have been one of the fastest growing businesses on the market. It is estimated that the apparel resale market will grow into a 41 billion-dollar industry by the year 2022. While normal second-hand retailer markets have not grown much, there are many reasons that luxury consignment has grown over the past few years. The most obvious reason being that consignment, in general, is a win-win business. The buyer gets a quality product at a discount, the consigner gets money back on some of their old items they don't use/wear anymore, and the business owner gets a decent payday as well.
The Second-hand luxury market specifically helps those who would not typically buy luxury products the opportunity to own iconic brands. It is also a smart business move for those who are consigning their luxury brand products. The main people consigning their luxury products are the super wealthy, a.k.a. the top 1%. Instead of just throwing out their old clothes and accessories, they consign these items. While the already wealthy get a payday, it gives us who are not in the top 1% a chance to shop in their closets. A lot of the super-rich only wear each clothing item one time. When we as buyers purchase these clothes that are still practically brands new, we are able to put them to better use and actually wear them more than one time.
When shopping online, you can not only take your time, but you are saving time. Online second-hand stores are definitely a new thing in the recent years. We all love finding our treasure when buying consignment items, but now we have the luxury of not having to set aside a day to do it, and we also don't have to fight the dreaded crowds either. Time is money, and buying through consignment is all about saving money.
While consignment itself started out as just a brick-and-mortar business, the internet is the main reason for the growth of luxury consignment. The internet provides us with many more options to shop for at one time. Not only are we given more items to choose from at one time, but there isn't any pressure to buy anything right away. You can take your time to carefully chose what you may be looking for. We all love online shopping because everything is organized in front of us and we can filter out anything we don't want. We are now able to do the same thing when buying second-hand thanks to the online stores.
Not only does online consignment provide more options at one time, but consignment, in general, provides more unique options when shopping for luxury brands. More people are starting to realize this. Especially those who are collectors of certain brands. Consignment stores can have products that are no longer sold or rare items that are just hard to find in general. More people are appreciating high-end brands and even more so are starting to recognize the products that are rarer than others.
Of course, you are going to save more money on some items rather than others. These are collector's items that you can find at consignment shops are still going to cost a good bit of money. Since they are rare, they are going to keep their value over time. Hermes bags and Chanel flap bags are especially great at keeping value over time because they are both collector's items. Hermes is also a rare bag because very few are made every year. People still tend to buy these items through consignment because they are so expensive, to begin with, and people are often looking to get them at a discount whatever that may be. These high-quality products have great sustainability and buying them second-hand means they still get an amazing product without having to pay the full price for it.
While there are a lot of brands that will try and take their products away from these stores simply to burn them just so they aren't worn by the "wrong people" there are plenty of people who can still get their hands on these brands products before they are taken away and burned for the worst reasons. When these brands burn their products, it is not only wasteful but terrible for the environment in general. So, when we can get our hands on these products, it not only benefits us as the buyer who loves fashion, but it benefits the environment as a whole. People are slowly but surely starting to realize these benefits of buying second-hand and again that it is a win-win for everyone involved.
In the past, there was a lot of people who would turn their nose up ay buying used items through both thrift stores and consignment shops. Now it is becoming the new normal way of shopping and inevitably becoming the new smart way to shop. Most consignment shops require that the items they buy from consigners be in very good condition, so when you are shopping second-hand, you know that you are getting a good product for an even better price. Every time you buy from a consignment shop or sell to them, you are also contributing to a business that has many benefits. Next time you are looking for a designer bag or luxury clothing, consider consignment. There is nothing to lose once you can find a trusted retailer to sell you good quality products.