It is hard to ignore the rise of the secondhand market, especially the demand in the luxury handbag sector. The increase in demand for previously loved items comes thanks, in part, to Gen Z and Millennials who are driving this growth beyond expectations. With a little help from other driving factors such as the industry’s sustainability angle and Marie Kondo’s “Does this spark joy?” phenomenon, it’s no surprise that its popularity continues to rise as more and more consumers aim to be more conscientious of their habits. Shoppers are becoming more aware of the value of the sharing economy, as well; a place where items and services have an extended life with less waste. Why let go of something if it can continue to be used well beyond its life expectancy by someone else? No longer is this the world where consumables are simply discarded but valued, repriced, and reintegrated back into the marketplace. In the last 2 years, the resale industry has risen from a $17 billion to a $28 billion-dollar industry and is projected to exceed $51 billion in the next 4 years.
Luxury brands have taken notice and are beginning to embrace it rather than fighting it as consumers are more likely to purchase luxury items if they know they are able to recoup some or most of the cost of them later. Many of these brands are looking to resellers as an acquisition channel by creating a new way to excite clients to sell their bags and come back to buy their next “fresh off the runway” pieces. With this in mind, it is important, now more than ever, to stay ahead of the curve and discover what bags are worth the investment. However, knowing what your handbag is worth, even before you purchase it, is invaluable.
Backed by internal sales history, research, and infinite comparable data points, Rebag is excited to announce the launch of Clair. This revolutionary new tool instantly generates the resale value of your handbag. With the market data of the resale industry at your fingertips, Clair will instantly tell you what a brand new bag in-store or a previously loved bag in your closet is worth on the resale market. Rebag’s team of buying experts routinely creates and updates each and every price in Clair’s database based on current market data, making it the single most accurate pricing tool for handbags by any reseller. Clair does not give you a range of prices, but a single specific price that Rebag is willing to pay, in cash, upfront.
Here are the most investment-worthy bags of Q4 2019:
Louis Vuitton Monogram Favorite MM
The Favorite MM has always been a fan favorite. With its ability to go from clutch to crossbody with the included additional strap and thin chain, it’s easy to see why this style flies off the shelves at the retail level.
Fendi Forever Mama
Vintage styles have made a huge comeback in the last 18 months, which has led to the rise of multiple previous “it” bags, several of which are of Fendi’s older models, including the Forever Mama, the larger variation of the brand’s smaller Baguette model.
Christian Dior Book Tote
Recently, the fashion world has been graced with the Book Tote, which was launched for S/S 2018. While not an established classic staple, at this rate, it’s well on its way.