Resale of luxury personal belongings – buying habits

Resale of Luxury Personal belongings - Purchasing Habits: After we talked in our previous post about the market as a whole and the challenges faced by this market locally and the corresponding successful global data that worth considering, in the current and following posts we will talk about buying and selling trends as well as the accompanying data, figures and wonderful details. Habits and Motivations for Buying The reality and the study mentioned above, which was conducted by BCG and ALTAGMMA on a large segment of 12,000 people with high rates of luxury purchases in ten major countries, showed that 60% of those asked about their desire to buy a used luxury item expressed great interest to buy a previously used luxury piece (half of them had already purchased from a luxury resale platform before) with many motivations, the most important of which are: • 32% are motivated by the discounted price of the items (compared to their new price), their quality, their luxury brand, and their long lifespan. • 19% of them are looking for previous items that are no longer available in the boutiques of the desired brand, or for collaborations between luxury brands with limited editions, such as Supreme and Off-white, as is common in recent years. (You must have noticed that customers were lining up with their tents in front of stores days before the Drop Day to get a piece that they may be able to sell for a huge profit); or for specific vintage pieces from previous years. All of these desires are available on luxury resale websites, and they have become the only sure source for all of that. • 17% of the buyers were motivated by the transparency and credibility that luxury resale platforms have provided them with in monitoring the prices of the pieces they want to buy, negotiating them, and providing authenticity verification services and guarantees on that. As for what is purchased, studies say that 40% of the luxury resale market focuses on luxury leather bags - which we also see in Brandfull - for many reasons worth talking about to clarify the deep idea here from our point of view (even if we go a little beyond the study): 1. The price of buying new luxury leather bags is high and not affordable for everyone, especially from brands such as Chanel, Dior, Louis Vuitton, Gucci, Yves Saint Laurent, and the very precious Hermes, and therefore their price in resale platforms may save up to 60% and more. 2. Luxury bags are used in a regulated manner and in a small range and have special interest from their owners and are sold with good quality overall. 3. "The expensive one has its price" as it lives for a long time, especially if the owner takes care of keeping it in a suitable place and mold. Add to that the periodic maintenance and cleaning to keep it shiny and strong and with it retain a certain value. 4. The options available on luxury resale platforms such as Brandfull and others are pieces from all previous years and "its gifts and trends", especially the classic piece, that has been and still is a center of attention and research. As for the other fifth, following categories of bags and the most traded and demanded in the luxury resale market, they are distributed as follows: • 16% luxury clothing • 13% small leather goods such as wallets of all types and sizes • 10% for precious watches • 9% luxury shoes of all kinds • 7% luxury accessories As for what the above study has reached in terms of the most traded commercial brands (which must be taken into account in your future purchases) in terms of the symbolic value of the brand, the resale value and the speed of exit, which is something that we will talk about later as a new habit that modern generations look at take seriously in every purchase and is on top of it: •Chanel • Louis Vuitton • Gucci •Dior • Burberry • Balenciaga • Alexander McQueen • Prada • Hermes • Rolex Note: Local preferences of traded brands differ by approximately 40% from the abovementioned names from the third order and below, according to our study of offers, operations and daily clicks Brands such as Fendi, Cartier, Van Cleef, and others are included in this equation. We will release some interesting information on this topic at a later time.‎ ‎ what remains id talking about buying here that there are in the resale platforms what we can describe as (treasure) and more than that, there is hardly a day that passes in Brandfull's preparation stations without seeing luxurious, unique pieces in their condition at prices that we could not dream of seeing if we were not in this field. We can only raise our hats to the lucky owner who snatched it, which makes us feel "truly" as a team with overwhelming joy.

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