Covid-19 pandemic and confinements around the world have accelerated the digitalization of commerce but also reflections on new consumption patterns. The French company Vestiaire Collective, founded in 2009, specializes in the resale of high-end and luxury accessories and clothing on the Internet. It is located at the crossroads of these challenges and arouses a certain interest, having succeeded in raising nearly 60 million euros in full confinement in France.
Also, when the company headed by Maximilian Bittner has been diving into its data since the start of the year and analyzing the behavior of its community, its report called “The Smart Side of Fashion” deserves our attention to its results.
“This report offers a very interesting insight into how the Covid-19 crisis has accelerated long overdue trends in the fashion industry, and shifted shopping behaviors towards a more thoughtful, focused approach. which is really close to our hearts, ”said Fanny Moizant, co-founder of Vestiaire Collective.
“This study really highlights this evolution, showing that consumers – especially millennials and Gen-Z – want to develop their own style and consumption habits in new ways, breaking with traditions such as fast-fashion. , and establishing new ways of thinking about buying and selling their clothes, like the one offered by Vestiaire Collective. “
And for the Vestiaire Collective teams, one of the strongest tools to promote this different consumption is the constitution of a community. “The activity recorded on Vestiaire Collective during the first half of the year shows that informed consumers are finding new ways to interact through digital platforms”, explain the editors of the study. These underline in particular that the members have started to follow each other (+ 400%); a practice that seems to be winning for the platform because the number of sales between consecutive members increased by 82%.
Above all, Vestiaire Collective is widening its audience, especially among men. It has notably recorded a 90% increase in male salespeople compared to 2019. And sales of products aimed at men have increased by 51%.
Financial and sustainable aspects motivate this rise in second-hand purchases. By going into the details of research and, above all, transactions, the Vestiaire Collective team was able to identify strong trends in the first half of the year. The platform has of course benefited from consumers’ quest for casual pieces and sportswear linked to deconfinement, with the essential giants Adidas and Nike in mind, but also an increasingly strong search for vintage.
The platform thus noted an attraction for historical pieces from Jean Paul Gauthier, Prada (+ 40% over one year) but also Balenciaga Ghesquière period (+ 180%). “Members of our community are turning more to vintage pieces to enhance their wardrobes. Most of them spend more time finding that rare gem,” say the authors.
Another strong focus: eco-responsibility. Brands identified as sustainable, on a platform that boasts of its involvement in the circular economy, have also recorded growth in activity, such as Vivienne Westwood (+ 44%) and Stella McCartney (+ 26%). “Brands committed to an ecological approach should set the tone for the rest of the year”, announces Vestiaire Collective.
Note that the study identified a few parts and actors who performed well in the first half of the year on the platform. Thus, the Saddle and Lady Dior bags by Dior or the Jackie by Gucci but also the Trio by Celine have been much sought after around the world. In Asia, the platform is raising the appetite of its members for See By Chloé but also for Louis Vuitton and Off-White pieces. In America, Vestiaire Collective is registering an interest in Fendi, Prada and Celine.
On the human side, streetwear diversions keep a good rating on the site, especially the collaborations of Supreme and in particular that with The North Face. The Gucci Ace, Track sneakers by Balenciaga and RockRunner by Valentino are sure values. More surprisingly, Tom Ford made a breakthrough in the first half of the year: “The quality of the parts offered by the brand makes it an attractive offer on the resale market”, explain the authors of the study.
To see if these trends will be confirmed by the platform’s next report. Cloakroom collective, which claims some 60,000 products put on sale by its members each week, intends to highlight the trends seen on its site each semester.