Today, according to Business of Fashion, the second-hand luxury market is growing faster than the primary luxury market, at 12% per year compared to 3%. Recently, luxury department stores have opened new spaces dedicated to second-hand products, and sometimes even entire floors for this evolving market. This is the case with Mon Vintage at Printemps and the (RE)STORE space at Galeries Lafayette, highlighting the importance of the second-hand market in consumer expectations. It is worth noting that the presentation of these spaces often lacks originality, which is a characteristic that defines the essence of second-hand goods.
THE SECOND-HAND CULTURE HAS ITS OWN CODES THAT EVERY BRAND SHOULD TAKE INTO ACCOUNT AND GRADUALLY INTEGRATE.
Originally born on the streets, second-hand has always been associated with the adaptability of space. Second-hand sellers act like stage performers, recreating emotional and sometimes ordinary scenes, easily adapting to new environments. The sales space is designed as a wonderfully organized mess; a true metaphor for each of our homes and our intimate spheres, thus creating a unique emotional bond with the consumer.
Secondly, second-hand is about the right timing. It allows for a fictional suspension of time and space, and consumers are accustomed to a type of ephemeral events, blending the past and present in a new realm and connecting the ordinary to the extraordinary.
Finally, second-hand retailers are “guardians of heritage” who foster an instinctive dialogue through genuine informal discourse, creating sincerity and authentic storytelling. Ultimately, second-hand is a cultural activity. Its experience is a symbolic act, with each of us participating in a collective story and living an emotional and social experience.
As result, the imaginary codes of second-hand practices offer new ways for luxury to follow and be truly meaningful and memorable. By showcasing the creative process or rewriting sales arguments to make them more authentic and interactive, luxury players have everything to gain when it comes to second-hand strategies.
A rejuvenating spirit that we have carefully analyzed in our 2023 Trends Observatory. Coupled with the brand’s DNA and its imagery, this could make retail a place where the fascination for vintage can reach a new peak of enjoyment. A movement that almost no one has managed to completely reinvent.
