How Luxury Brands Could Cash In On the Growing Resale Market

While the luxury resale market continues to grow at an average rate of 12% a year, a new study suggests that it will also benefit the larger luxury sector.

In particular, the survey found that 71% of customers were purchasing items they could not afford to buy firsthand, with 62% saying they were buying from that brand for the first time. Of those 62%, almost all said they would buy from that brand again. BCG and Vestiaire Collective also highlighted the resale market as a way for luxury brands to showcase their support of and participation in sustainability initiatives. That can position a brand more favorably with younger consumers, who are increasingly concerned about environmental impact, while also promoting brand values indirectly through secondhand sites.

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