5a Insider: Sustainable Luxury Fashion - Why It's the Way of the Future
5a Insider is a new weekly blog series where we share trends in the pre-owned luxury industry and tips and hacks on your favorite designer brands. Stay tuned every Sunday for the newest article!
Sustainable Luxury Fashion - Why It's the Way of the Future
You love to indulge in designer brands, but what about sustainable luxury? Fast fashion and purchasing the newest designer trends comes at a cost that is more than just a credit card bill or a ding in the bank account--it is one of the largest universal polluters because of its significant impact on the environment, in addition to other factors such as a strenuous work supply chain in less than satisfactory working conditions throughout the world.
Modern Trends: Eco-Friendly Fare with Classic Style
Awareness of the environmental factors and rising production costs have led to a more knowledgeable consumer who seeks an alternative to purchasing the latest items, whether they are fast fashion or luxury, high-end brands. Sustainable options and ethically sourced products are well within reach--becoming more responsible, doing research, and seeking out something to cherish doesn't have to come from the newest season or priciest stores.
Long-Term Benefits with Second-Hand Goods
Buying and selling second-hand luxury goods offers long-term benefits in the market, not only for the consumer but brands themselves. Investing in second-hand items gives brands “staying power," a way to surpass flash-in-the-pan trends.
Rolex watches are considered better investments than stocks, gold or real estate if you bought a decade ago, and sellers believe they’ll continue to deliver value.
Breathe new life into each keepsake purchase that debuted years ago to another audience by buying and selling second-hand luxury–each season designers showcase themes of that time, creating a capsule of style forever etched in decades.
Benefits of Buying & Selling Second-Hand Luxury
Cost & Profit
According to Statista, In 2021, the market revenue for second-hand luxury goods was estimated to be around 5 billion U.S. dollars worldwide. The market revenue is projected to almost triple in size by 2027, reaching a value of 14.7 billion U.S. dollars.
Purchasing second hand luxury comes at a significant cost reduction compared to buying designs from the newest season. Luxury goods are synonymous with very high price tags–purchasing these things from past seasons will save you money (no one knows when you purchased it, new or vintage!).
The classic pre-owned Cartier Juste Un Clou bracelet is listed for $6800 on store5a.com, which is 40% off compared to the retail price of $11,700.
Selling second hand luxury goods gives you a return on your investment. Loved today, but soon forgotten or pushed to the back of the closet isn't cost or space efficient. Selling things you no longer use opens up room for other items, clearing the air, energy, and space of the home.
Hard to Find Purchases with History
It is truly rewarding finding something you have long wanted when shopping for second-hand luxury. Acquiring something from years before you were just a toddler or even born allows you to have a piece of history. Rare or limited edition pieces uncovered from buying second-hand makes them collectable items, whether you choose to wear and use the item or have it on display.
The vintage pre-owned Louis Vuitton train case is an unique piece that represents the iconic brand and the history of luxury travel.
Classic & Timeless
Luxury items are created to last for years. Luxury items go hand-in-hand with high-quality materials, noteworthy craftsmanship, unique details/decorative elements, and trademark logos, signifying the designer/brand name. Acquiring these items means they will never go out of style--they are luxury classics meant to be enjoyed for generations.
Sustainable Luxury: A Forward Approach to Fashion: Key Takeaways
Shopping for second-hand luxury goods has seen an uptick in popularity within the last few years as seen with statistics from different sources. Affordability and budget-friendly price points bring new possibilities for those who yearn for luxury goods that seem out of reach.
Reselling second-hand luxury items is a savvy way to obtain a return on an investment you are no longer using or interested in–opening the door for those seeking exactly what you have hidden in your closet or shelf.
Doing Your Part
Buying and selling second hand luxury goods means you are taking a moment to reflect on the environment and humanity and doing your part in the consumer process by cutting down on waste and cost. Unique items are meant to last a long time with much wear and tear, can be repaired by a professional if needed, and will save money over time.
At STORE 5a, we are dedicated to give jewelry, handbags, and watches a second life. We are very excited to create a community where customers can shop, sell, consign and trade with us for a lifetime. We encourage you to join our journey by investing in sustainable luxury. Together we embrace the mission of sustainability and create a positive impact on the community with our love-forever pre-owned styles.