The RealReal releases its 2023 luxury resale report.

The RealReal Unveils 2023 Luxury Resale Report, Highlighting Seller Opportunities

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The RealReal, the world’s largest online marketplace for authenticated, resale luxury goods, has just unveiled its sixth annual 2023 Luxury Resale Report.

This report offers insights into the evolving landscape of luxury resale, shedding light on the shopping and consignment behaviors of The RealReal’s vast community of more than 33.6 million members.

It also highlights noteworthy fashion trends that have influenced the demand and resale value of some of the most coveted luxury brands and items. An important finding from this year’s report is that despite economic concerns, consumers are steadfastly committing to luxury purchases.

Over the past year and a half, The RealReal has observed a considerable transformation in how buyers are engaging with the concept of resale.

Savviness has taken center stage, with shoppers discovering brands and styles that they might not have otherwise considered. This newfound exploration has extended to pushing stylistic boundaries and redefining the conventional notions of luxury.

Rati Sahi Levesque, President and Chief Operating Officer of The RealReal, emphasized the pivotal role that value plays in shaping the evolution of resale. Levesque noted, “Value can mean different things to different people, whether they find value in what the item costs, what it reminds them of, or what the item evokes emotionally.”

Despite concerns about economic conditions, buyers are still investing in pieces that hold long-term value. This resilient attitude is evident in their inclination towards investment pieces and their growing inclination towards mixing items from different eras and aesthetics to curate their personal style.

Traditionally, fashion has been synonymous with flawless appearances and staying in line with the latest trends. However, the recent surge in demand for fair condition items signals a shift towards embracing imperfection.

“The worn look has become a badge of honor,” added Samantha McCandless, Chief Merchandising Officer at The RealReal. Consumers are now willing to invest in older, well-made items that may show signs of wear but retain their inherent beauty.

Prompted by the considerable surge in demand for products in fair condition, The RealReal has taken the step of broadening its condition rating to cover other categories, including ready-to-wear fashion.

“We’re thrilled to be able to address this demand in our marketplace,” concluded McCandless.

The RealReal 2023 Luxury Resale Report Offers Insights for Sellers

The RealReal’s 2023 Luxury Resale Report not only provides an in-depth analysis of the current state of luxury resale but also serves as a testament to the evolving preferences and mindsets of luxury shoppers.

Backed by over 12 years of comprehensive data, this report serves as a valuable resource with data-driven trends and analyses, empowering sellers to strategically tailor their offerings to meet consumer demands.

While luxury represents a specialized market, it’s a growing resale segment that boasts attractive profit margins and The RealReal offers a modern platform to reach an affluent consumer.

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