Consignment site The RealReal released its mid-year report on Tuesday with an interesting look inside what's trending and tripling in growth within the luxury resale space. According to The RealReal Chief Merchant Rati Levesque, its findings — culled from more than four million members on the site — are usually an accurate reflection of what's impacting the the retail market as a whole. For example, Saint Laurent sales grew 167 percent year over year due to Hedi Slimane's departure as creative director in April. And as Alessandro Michele continues to garner fashion fans, Gucci steadily climbs the ranks as one of the most in-demand brands among both consumers and industry insiders.
Read on to learn more about what new brands and trends are taking over the luxury resale market, along with a few predictions from The RealReal for the remainder of the year.
Gucci, Dior and Valentino Among Best-selling Brands
Among the top 20 best-selling brands in the resale market, according to The RealReal, Prada, Burberry and Céline have shifted down a few spots in exchange for brands like Gucci, Dior and Valentino. As predicted by the site last year, Gucci climbed the ranks as one of the top five brands, pushing Prada out to #6, while Dior (now #11) and Burberry (now #16) swapped spots — so did Céline (#8) and Valentino (#7). With Maria Grazia Chiuri leaving her co-creative director post at Valentino for Dior, it'll be interesting to see how these two particular brands hold up for the remainder of the year.
Chloé, Gucci, Hermès Are The New 'It' Bags
If you're thinking about putting your Proenza Schouler PS1 or Céline bags, specifically the Trapeze and Nano Luggage, up for consignment, you might want to hold off. The RealReal has noticed the resale value of these items decrease by 10 percent, as did that of the Fendi 2Jours bag. The new "It" bags are Chloé's Drew and Marcie handbags, the Gucci Soho Disco and the Hermès Constance, which saw a whopping 60-percent increase in resale value. (It's also a lesser-known style that's driving the French brand's own sales right now.)
Engagement Rings and Watches Are Hugely in Demand
With consumers' rising interest in all things custom, personalized and one-of-a-kind, consigned engagement rings are among The RealReal's fastest-growing categories, and experienced a 280-percent jump year over year. Fine watches are also seeing quick growth, especially brands likes Cartier, Patek Philippe and Rolex, with a 150-percent increase within the first six months of the year.
Hermès Birkin and Kelly Bags Are Popular in Australia
When it comes to international resale trends, The RealReal shipped the most Hermès Birkin and Kelly bags to Australia compared to any other country outside of the U.S. And, Australia is among three countries to have tripled in sales growth year over year in addition to United Arab Emirates, which has a penchant for Cartier fine jewelry and watches, and Japan, which showed an increasing interest in Fendi's Peekaboo bag during the first half of the year.
Mobile Sales Will Surpass Desktop Shopping
By the end of 2016, The RealReal predicts that mobile sales will surpass its desktop sales. Already the e-commerce company sees 50 percent of its sales come from mobile and tablet devices, with 20 percent of that coming from The RealReal's mobile app.
The company also predicts shoppers will become less interested in the main spring and fall season merchandise and more interested in cruise collections as brands continue to invest in using those to engage global customers.