The RealReal Luxury Resale Report 2024: Grassroots, sustainability and bling

Luxury resale marketplace The RealReal released its seventh annual “Luxury Resale Report” on Wednesday, which analyses the shopping and consignment behaviours of the company’s more than 37 million members. It also spotlights the key trends currently shaping demand and resale value for the most sought-after luxury brands and items - dominated by high-value fine jewellery and timeless handbags but also TikTok trends and the revival of nostalgic TV shows.

“Fashion is undergoing a seismic shift. Trends less frequently flow from the top (runways), and are now emerging from the ground up through things like TikTok, television shows, and everyday street style,” confirms Rati Sahi Levesque, The RealReal’s president and COO, the grassroots trend.

Sustainability is still 'in'

This year, consumers also prioritised sustainability more than ever with 49 percent of members saying that extending the life cycle of luxury being a primary reason to shop on The RealReal according to the marketplace. Almost one third (31 percent) of customers and 35 percent who also consign said that since the pandemic, they now focus on “buying fewer, more special luxury pieces”; 78 percent of members said they shopped on The RealReal with “value” being top of mind.

“They are looking to invest in quality more, especially during a time of economic insecurity: For the second year in a row, we are seeing both average order values and average sale prices rise across all generations, with increases up to 14 percent. It is no longer about what is new being what is next—it is about what is going to last. More than ever, shoppers are curating their wardrobes with a focus on distinctiveness and enduring value,” adds Sahi Levesque.

Most searched brands appeal to masses, gender-fluidity

Louis Vuitton bagged the top spot among the most searched brands, followed by Chanel, Prada (first among Gen Z consumers), Gucci and Loewe. Miu Miu, Celine, Bottega Veneta, Dior and The Row round off the Top Ten. Searches for men’s bags soared by 900 percent compared to last year, with Gucci, Fendi and Chanel leading.

“All of these brands are redefining fashion by appealing to the masses. Prada, for example, taps perfectly into '90s and Y2K trends, and has become Gen Z’s most-searched brand. There’s also Chanel and Gucci—whose handbags are our most-searched item and second most-searched item, respectively—reigning in popularity among Boomers and Zoomers alike,” explains Noelle Sciacca, The RealReal’s associate director for women’s fashion and strategic partnerships.

“Miu Miu, breaking traditional age-specific style norms, has seen a remarkable 47 percent year-over-year increase in searches for its vintage pieces. The trend towards fashion's continued democratisation across genders is also clear, with many of these brands championing gender-fluid styles and inclusivity,” adds Sciacca.

Bags are becoming more accessible

While consumers are on average spending 20 percent more on bags today than they were five years ago, a trend is noticeable towards slightly more accessible styles from established brands like Miu Miu and Loewe but also emerging ones.

“In 2024, buyer growth in the 1,000 to 3,000 US dollar price range has increased by 13 percent compared to last year, marking the largest uptick of any price category—with a focus on good investments over trends,” sums up the report.

Among the ten best bag investments are The Row’s “Margaux”, Hermes’ “Kelly” bag, Bottega Veneta’s “Andiamo”, Chanel’s “Mini 22 Hobo” and Loewe’s “Puzzle” on the more predictable side, but The RealReal also recommends a few less known ones: Toteme’s “T-Lock”, Savette’s “Pochette”, Polène’s “Numéro Dix”, Alaïa’s “Teckel” and Mulberry’s “Alexa” bag.

Fakes are a force to reckon with this year as well, and The RealReal intercepted over 7,000 counterfeit bags during the authentication process. “While the most commonly counterfeited bags are still the usual suspects—Hermès, Chanel, Louis Vuitton, Gucci—we have seen a major uptick this year in Celine and The Row knockoffs following 2023’s quiet luxury boom. These “superfakes” are often jarringly similar to the real thing, with an attention to detail authenticators have seldom seen before.” 



Vintage goes mainstream

The resale marketplace observed that formerly niche brands like Issey Miyake and Vivienne Westwood have surged into the mainstream. Those wanting to be early adopters of a new guard should look out for Claude Montana, Courrèges and Romeo Gigli. Re-emerged TV shows like the Sopranos and Sex in the City drove demand for Gen Z. With shows like “Emily in Paris” pushing secondhand fashion, the small screen will continue to have a big effect.

Fine (maximalist) jewellery experienced the highest growth of any category this year: “It appears shoppers are deciding on surefire investments during an era of economic insecurity and lightning-speed trends, spending more on higher value pieces with guaranteed ROIs and staying power. Despite enduring economic factors—like inflation and metal price hikes—our data shows a 7 percent increase in demand and average order value, as well as customers gravitating towards high-value pieces from luxury brands,” finds the report.

Classic streetwear brands decline

While sales declined by 25 to 35 percent compared to last year for classic streetwear brands like Supreme, Off-White and Nike Jordans and pieces declined, it increased by 25 percent for suits and brands known for their business-like attire like Donna Karan, Gianfranco Ferré and St. John but also Brunello Cucinelli, Dior Men, Giorgio Armani and Zegna.

'New Americana' for 2025

Last but not least, “New Americana” is the trend for 2025, combining boho and utilitarian styles — searches for vintage Diesel, Levi’s, Chloe culottes, Dôen dresses, fringe leather and bohemian silver jewellery all went up.