Resale or thrifted luxury goods continue to trend on social media sites such as TikTok and on websites such as The RealReal (TRR), so it begs the question: What are consumers doing in this newly important month of October in terms of gifting trends, and what can jewelers expect for the rest of this year?
The RealReal says it predicts gift givers will look for “elevated classics” from heritage brands such as Bulgari, Cartier, Yves St. Laurent, and Van Cleef & Arpels, which continue to do well among its shoppers. Its consumers are looking to give “covetable gifts” this year from the top luxury brands as well as “it” pieces such as charms, pendants, brooches, and unbranded fine jewelry.
Luxury brand searches spike during the holiday season based on previous data, says TRR senior fashion lead Noelle Sciacca. This year’s holiday likely won’t be an exception.
“It’s a fun, festive time that inspires a feeling of indulgence,” Sciacca tells JCK.
Here is a condensed version of JCK‘s interview with The RealReal about its thoughts on holiday 2022 and what consumers are looking to buy.
What are you seeing in terms of the holidays for household names in the jewelry world?
What better way to satisfy that sentiment than with classic names like Van Cleef & Arpels, Tiffany & Co., Cartier, and Bulgari. Bulgari in particular is already showing a 60% increase in sales compared to last quarter. Vintage Bulgari is also enjoying time in the spotlight with styles like a two-tone collar necklace and bold statement cocktail rings as a few customer favorites.
Are you seeing early shopping, like October, for gifts or is it self-purchasing?
What has been refreshing to see is that our shoppers are getting more and more comfortable with gifting resale and have already shown shifts in behavior since last holiday season. They know what to look out for and understand that finding the perfect gift isn’t beholden to the traditional holiday time frame. Shopping with TRR is all about the thrill of the hunt, and our shoppers are tuning in earlier and earlier to see what unique items are available.
What kinds of jewelry are moving the most or most often on the TRR? Even our local estate sale experts say they are seeing the trend in brooches.
Brooches have skyrocketed in popularity. Demand is up 50% year-over-year and the number of Obsessions for this style have increased 127% since last quarter. This can be credited to the newfound interest in bold estate and vintage style jewelry as well as recent appearances on the red carpet and runways. Fashion-forward celebrities like Zendaya and Regé-Jean Page have styled brooches in a fresh way that has brought this classic piece to a younger generation’s attention.
What do you recommend to the luxury industry about the trends you’re seeing? Should it stock more brands or keep up with custom or store brands?
The trends we’re seeing on the resale market are certainly telling a larger story for what customers want and how they’re shopping for it. We have always viewed the primary and secondhand markets as working in tandem to not only understand what customers want but also by providing an outlet to shop favorite brands in a sustainable way. We will always look to the primary market and runways to see how brands affect trends, and the recent adoption of resale in the luxury market tells us the industry is looking to us to do the same.
What else can I share that you’d like the industry to know about the holidays 2022?
In addition to our top four brands, unbranded jewelry performs exceptionally well during the holidays. Last year, we saw demand for unbranded jewelry increase 20% over the holiday season. Whether customers are shopping for themselves or gifting to others, these one-of-a-kind pieces bring a personal touch that can only be found in the secondhand market. Knowing that demand on the resale market spikes during the holiday seasons, it’s the perfect time to consign and clean out your jewelry box or upgrade your pieces.
Top: This diamond brooch is one of many brooches available on The RealReal that shoppers are scooping up for themselves and holiday gift giving, the consignment website says. Consumers are looking for elegance and value to give as gifts in 2022, its experts say (photos courtesy of The RealReal).
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