2023 Resale Report: Investment Shopping at a Time Like This?
It’s not as rare as you might think. The will-it-or-won’t-it recession rumors haven’t slowed our shoppers at all. Across demographics, they’re making fewer yet more expensive purchases: average order values are up for every generation this year (from 14% for baby boomers to 18% for Gen Z). While a smart buy means different things to different people – some are all-in on minimalism, others are doubling down on Y2K – our data shows they’re willing to spend more for items with longevity. Perhaps because they know they can always reconsign: the practice of scoring an item on TRR and eventually selling it back is up 24% this year.
“Value is an important factor for shoppers,” says Rati Sahi Levesque, President & COO. “Trends like stealth wealth reveal a desire to do more with less and, for younger generations, a new level of class consciousness. But we’ve learned that value means different things to different people, and a finely tuned sense of personal style allows shoppers to be more comfortable making investment purchases, which they’re continuing to do despite recession fears.”
The Generation Most Likely To…
While the internet loves a generational stereotype, our data tells a different story: one of eco-conscious baby boomers, money-minded millennials, and the brand we all agree on.
Get Engaged Sustainably: Gen X
They’re the main reason we sold 71% more lab grown diamonds this year
Keep It Circular: Boomers
They reconsigned more bags this year than last year
Love What You Loved: Millennials
They bought more fair condition than any other group
Say “Thanks, It’s Vintage”: Gen Z
These budding fashion lovers spent 40% more on vintage bags this year
Have the Time: Silent Generation
Up 121%, they had the biggest increase in average order value for watches
Be Desperately Seeking Gucci: Everyone
The generations are united in their love for our most-searched brand
America Runs on Resale
From coast to coast, our membership is growing (hello, 33.6 million!). And while every city has its own unique style, one thing ties us together: Chanel. The Classic Flap is our #1 most-searched bag this year across all locations.
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