NEW YORK, Oct. 25, 2016 /PRNewswire/ -- VestiaireCollective.com, Europe's leading trusted social site for the resale of designer and premium fashion, announces the launch of a comprehensive Fashion Resale Index revealing the average resale value across a number of key luxury product categories such as handbags and footwear. In conjunction with the Resale Index, Vestiaire Collective also launches an easy-to-use online Resale Calculator, allowing customers to generate the resale price bracket of an item before selling it to maximize their fashion budget each season.
A Vestiaire Collective survey conducted in 2015 in collaboration with IPSOS revealed the start of a new emerging consumer behavior, with 5% of participants already considering the resale value of fashion items before making a purchase. Much like other high value commodities such as cars and art, the increasing popularity of designer resale sites has allowed fashion consumers to consider their purchases as potential investments. Progressively, across a number of consumer markets, people are moving away from the idea of long-term possession in favor of short-term usage.
After analyzing 5 years' worth of company data mapping the behavior and trends of the fashion resale market, Vestiaire Collective developed three product charts showing key movements and activity within the industry that impacted the resale value of a product area or brand, allowing fashion consumers to be able to read the fashion market in a similar way to brokers reading the stock exchange.
RESALE INDEX TIPS ON HOW TO BE A FASHION BROKER:
- There are 3 main metrics that make a good fashion investment: quality, desirability, and rarity.
- Product categories perform differently. Bags tend to make the strongest investment by recouping an average of 75% of their original retail value, while shoes are around 57%.
- Brand activity has a significant impact on the resale value of its product. The arrival a new creative director can impact interest in a brand and the value of current, previous or upcoming collections.
- Follow these tips to ensure maximum value of your item: Sell the item in season when it's still in demand; Keep pieces in perfect condition with their original packaging; Advertise item in the best possible lighting with several photos and detailed product descriptions; Sell through a trusted resale site to ensure a stronger asking price.
- Use the Resale Calculator to estimate the value of your items before selling. The real 'traders' will be able to spot the top investment opportunities for maximum return on their purchase.
Resale Calculator: http://www.vestiairecollective.com/price-calculator-second-hand
Fashion Quiz: http://www.vestiairecollective.com/fashionquiz/
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NOTES TO EDITOR:
VestiaireCollective.com is Europe's leading trusted online resale site for designer and premium fashion, with over 5 million members across 47 countries worldwide. Over 25,000 items are submitted to VestiaireCollective.com's team of experts every week, with 3000 new items becoming available on its site every day, making Vestiaire Collective the premiere destination for a unique shopping experience.
SOURCE Vestiaire Collective