If there is a country in which the world of luxury is crazy, that is China.For just over a decade, the main brands in the sector began their sales stratification policy to be able to reach all spectra with purchasing capacity, and have achieved it.
Covid-19 pandemic has changed many things.Among others, he has triggered online sale (partly for the closure of many physical stores), but above all he has launched the fashion of luxury second hand, the purchase of second -hand brand products, among the youngest.
The portals that were dedicated to the sale of second -hand luxury items had proliferated worldwide in recent years.The leader in the sector is called Plum, and is similar to the western The Realreal or dressing Collective.Its main clients, as in Europe or the United States, are millennial women, with medium purchasing power and living in medium -sized cities or in rural areas of China where super luxury stores such as LVMH, Hermés or Prada are notpresent.
PublicidadChina, according to experts, was not a country of second -hand products -it might think that it was rather for falsifications -.But the truth is that Chinese consumers have traditionally rejected second -hand products.This trend has changed in recent years, especially among the youngest.They seek, like the rest of the world, more affordable products while having environmental awareness.
The Reuters news agency published a report from the University of International Economics and Business of China and Isheyipai a few weeks ago, it is estimated that second -hand products sales represent only 5% of the luxury market, compared to the28% in Japan or 31% in the United States.The Bain consultant estimates that Chinese consumers will represent almost 50% of the world luxury market, which they estimate will have a value of about 374 billion dollars, in 2025.
Millennials in the West are a large market for retail articles, and China takes the same path.The University-Isheyipai joint report estimates that 52% of consumers of second-hand luxury items in China have less than 30 year.This means that there are more millions of people than the entire population of the United States.
On second -hand platforms you can purchase Louis Vuitton bags from 450 euros or Prada coats from 200 euros.For a woman between 20 and 30, daughter of one of the 400 million Chinese considered middle class, is a reasonable price to buy a luxury product that, otherwise, would be complicated."Aspirational" sales expect to be the big stars of the second -hand online retail sector during the Chinese New Year's holiday, in February 2021.
Experts are optimistic for the coming years in this increasingly fashionable business segment among new generations.They understand that awareness of the environment, fair trade and, above all, the control of personal finance supports this optimism.
