- What industry do you work in and what is your role?
- What are your responses in your role / position?
- Can you describe to the function of your workplace / company?
- How many departments, how many offices. National or International?
- What are the minimum requirements for employment ie Education or Experience?
- How many opportunities are there to ‘move up the ladder’?
- What is the process for changing job roles ie Interview? Test?
- Current projects? Deadlines? Opportunities?
- Anything of interest happening?
1.
The RealReal’s REAL 0.0% an annual luxury resale reports shed light on the motivations and behaviors of its community of more than 23 million buyers and sellers to gain a better understanding of the trends they fuel. The 2021 report is different than previous editions due to the impact of the Covid-19 pandemic on luxury consumption.
2.
“The luxury resale movement is experiencing record growth, with 6 million new members joining The RelReal in the past year,” said Rati Sahi Levesque, president. “Evolving Covid-19 restrictions and re-openings are significantly impacting shopping behaviors. Savvy shoppers are latching onto luxury investments, with the most dramatic growth among Gen Z and Millennials.
3. “Shoppers are drawing inspiration from the past in pursuit of personal expression, driving demand for streetwear’s return to its preppy roots and vintage Japanese menswear,” Levesque added. “Of all age groups, our data suggests Gen Z will be the most conscious shoppers yet.”
How familiar are you with luxury resale? Would you be interested in purchasing used luxury items?
4.
The RealReal said more people bought and sold in the circular economy amid The Covid-19 pandemic, with sustainability driving many consumers to embrace more conscious consumption through luxury resale.
5.
According to the company, 45% of buyers in the past year were new to resale, 29% of made their first resale purchase in the past year, and 43% said sustainability was a deciding factor in buying resale.
6.
Some of the most salient information in The RealReal’s luxury report is the ranking of top brands on the platform. The RealReal said demand rose for luxury’s most sought-after brands during the health crisis with competition between the elite hierarchy intensifying.
Why do you think Gen Z and Millennials account for a significant portion of growth in the luxury resale industry?
7.
There were several upsets in the past year. Gucci widened its lead over Chanel by 24% year-over-year, while Prada closed in on another 20%. Dior knocked Hermès out of the top five and made the top of the list for the first time, propelled by 747% year-over-year growth in vintage.
8.
Louis Vuitton ranked number one in demand in the past year over 2020, followed by Gucci, Chanel, Prada, and Dior. Gucci was the most widely-purchased and most-divested brand of the year, with purchases and consignments up 62% and 61%, respectively.
・The article mentions, “…savvy shoppers are latching onto luxury investments…”; but traditionally investments use money to generate profit. What do you think of the term “luxury investments”as it is used in the article compared to previous usage?
・The article mentioned sustainability; do you think sustainability and consumption of luxury goods are compatible? Why/Why not?
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