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Hermès Retail vs Resale: ‘I do both but I believe resale is becoming more attractive’

As the luxury consignment and resale market experiences unprecedented growth—projected to spike to USD 77 billion by 2030—more fashion enthusiasts are turning their gaze toward second-hand

Published: Jul 17, 2024 2:23 PM

By RETAILBOSS Team

HandbagsLuxury

Hermès Retail vs Resale: ‘I do both but I believe resale is becoming more attractive’

Credit: Instagram @EricasGirlyWorld

As the luxury consignment and resale market experiences unprecedented growth—projected to spike to USD 77 billion by 2030—more fashion enthusiasts are turning their gaze toward second-hand shopping. Leading the charge are Millennials (ages 25-34), who, driven by affordability, sustainability, and a penchant for unique finds, constitute the largest demographic of luxury buyers at 27%, followed closely by those aged 35-44 at 24%.

Popular luxury brands like Hermès, Chanel, and Louis Vuitton dominate the resale market, retaining high average resale values. Hermès bags, particularly the Birkin 25 cm, are highly sought after, with values appreciating by 127% to 138%.

The global second-hand luxury market is estimated to surge from USD 34.2 billion in 2023 to USD 72.3 billion by 2032, exhibiting a CAGR of 8.9%.

Overall, the luxury market’s revenue is expected to reach USD 58.39 billion in 2024, with an annual growth rate of 9.75%, culminating in a projected market volume of USD 92.98 billion by 2029.

View this post on Instagram A post shared by Erica Williams (@ericasgirlyworld) In an exclusive interview with Erica Williams (@ericasgirlyworld), a fashion influencer and luxury expert, we explore the nuances of Hermès retail versus resale…

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Hermès Retail vs Resale: ‘I do both but I believe resale is becoming more attractive’

As the luxury consignment and resale market experiences unprecedented growth—projected to spike to USD 77 billion by 2030—more fashion enthusiasts are turning their gaze toward second-hand

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