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From big retailers to small retailers, seed stage investors to large buyout firms, and from the New York Times to Netflix, everyone seems to be talking about the future of resale. It’s about time! Like all major movements and category disruptions, mainstream adoption happens over time, and this category is just getting started. Buying vintage is a true trend. More e-commerce websites are born every month!
Vintage is trendy!
Antique articles prices and quantities have raised since the 2008 crisis. Vintage has mainly risen as a reaction to the low-quality fast-fashion consumption model. Existing since the 1990s, vintage used to be seen as crude and limited to poor quality products. On the contrary, since 2008, fashionistas and bloggers promote the selling of quality clothes you don’t wish to wear anymore. This behavior is not a contradiction to fast-fashion, as consumers want to renew their dressings often but still be able to afford quality products. Vintage is becoming a new trend since a few years now, which is the focal point between the searches for cool, historical and quality pieces.
There are more secondhand shoppers than ever before!
Sexier the better!
64% of Women Bought or are Now Willing to Buy Secondhand Products
Younger even better!
Not surprisingly, the younger generations are leading this charge, with millennials and Gen Z adopting secondhand 2.5x faster than other age groups.
Vintage jewelry has its target itself
- “Greeners”: 59% of consumers expect retailers to create clothes ethically and sustainably. Greeners have good quality branded or unbranded jewels that they, in general, keep in their drawers. Our process should be easy enough so they have the incentive to re-create or re-sell.
- “Generational”: often hard to send by post, generational jewelry is hard to digitalize. That’s why we decided to go for a trustworthy local jewelers.
- “Break-ups”: break-ups jewel can be found at a very cheap price as women want to erase their past memories. A new memory could be created by re-using stones and metal.
Technology created a real revolution!
5 trends that revolutionized the market
- Endless supply chain possibilities: You never thought that shipping a product from home was so easy just a few years ago. Services like “ThreadUp clean out kit” make it easy to sell from home, opening up to a new range of products. Also, a clear rotation of consumers goods maintains good order. Resale responsibly turns that trash into treasure—creating a bargain hunter’s paradise.
- Shop smart: Sophisticated algorithms assign a resale value at scale, creating real value.
- Shop everything: Resellers must be efficient when photographing, listing, and storing infinite SKUs. Automation was born to handle a massive volume of clothes, apparel, and jewelry.
- Shop everywhere: Mobile apps and personalization have made buying used clothes as easy as buying new.
- Show everywhere: The resale market satisfies 2 biggest demands of the Instagram generation: Be seen in new styles constantly & be a sustainably conscious consumer.
Where to buy vintage?
Online players got ahead of it 😉
On-line websites as Vestiaire Collective in France, Thread up (Managed marketplace for all brands—from GAP to Gucci), TheRealReal (Managed marketplace for luxury and designer brands.) and Poshmark (Peer-to-peer marketplace focused on social commerce) but also Vinted in Sweden, enabled the rising of a C2C vintage market. The website provides you the shipment method, enables you to have access to all vintage products. The standardization of the clothes description enabled clients to easily pick the items depending on their sizes, brands, and attrition. Clients are trained to give the best descriptions and take the necessary photos.
Retailers adapt as consumers no longer buy with the intent to keep!
40% of consumers now consider the resale value of an item before buying it. That’s nearly a 2X increase from 5 years ago. Companies are designing new products for secondary markets such as Airbnb (Currently building homes that are designed to be shared, not owned), IKEA (Announced plans to offer furniture rentals) and Rent the Runaway (Brands are now creating clothes to be rented exclusively on RTR)
Is it the case also for jewelry?
Customers are not found of buying vintage jewelry online yet, well in Europe. If you can find very expensive bags and clothes, it’s hard to find unbranded jewelry at a good price. The main reason is that the online vintage store proposes mainly branded jewelry. Trust is another issue. On top of this, customer lack advanced knowledge to buy jewelry online. The secret recipe for an e-commerce platform is to be 100% transparent with their customers, such as the previous jewel history, the details of its expertise and what is the real price of the jewelry!
Whereas branded jewelry are re-sold in auction houses, unbranded jewels often need to be re-sold in gold for cash services. This creates an important decrease in the value of metal and gemstones! In reality, the jeweler has always offered this service, and this used to be a very common practice, especially in the 17th, 18th and 19th century. But this process is not well-known by customers.
ExJewel hopes for a more sustainable future… and reuse of metals and gemstones
- People will buy more consciously in the future in this particular sector
- The fact that we propose to ease modifications will help people to accept to buy second-hand jewels, creating a new story around the metals and stones
Thread Up 2019 resale annual report
The State of Fashion 2019: A year of awakening
M6 Bijoux discount: Les trublions du luxe