Supply chain issues have caused the resale value of some limited products to increase in 2021.
Sold out styles attracted 50% more new buyers than other items in the resale market, according to The RealReal’s 2022 Luxury Resale Report, which analyzed resale trends on the more than 24 million dollars. members of the platform.
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Shipment delays and factory closures were mainly to blame for these sold out products. Supply chain issues in 2021 created a mismatch between supply and demand. As such, the resale market was often the only place people could get their hands on certain luxury items, usually at a much higher price. This caused some coveted items like the Hermès Avalon cover and a Chanel flap bag to see their value increase, as they were almost impossible to obtain in the primary market.
In the booming resale industry, high-value Nike sneakers have dominated the market in terms of value.
The resale value of the in-demand Nike sneakers increased 32% year-over-year, ranking first among the top five brands with the largest resale value gains. After Nike, the brands that made the list included Rolex, Bottega Veneta, Chrome Hearts and Hermès.
Part of the reason for Nike’s continued resale success was its low supply of high-demand items, such as its coveted sneaker collaborations. A pair of Nike SB Dunk Low Staple NYC Pigeon sneakers, designed by Jeff Staple, sold for $ 18,000 on The RealReal, making them one of the most valuable pieces to ever sell on the site.
“The rapidly increasing demand and limited availability of its most sought-after styles have led Nike to double the gain in resale value of any other brand this year,” said Mayank Hajela, senior men’s director of The RealReal. “While the release of new Dunk styles and on-going collaborations with brands like Off-White and Sacai have made Nike coveted across generations, it’s primarily savvy millennials who flip the pairs for profit. “
New Balance also had a strong year, with the brand’s resale value increasing 61% year-over-year. Some New Balance sneaker collaborations have sold for up to 387% more than the retail price.
“When Aimé Leon Dore’s Teddy Santis was chosen to be New Balance’s Creative Director, he applied his clean aesthetic to transform almost forgotten styles like the 550 into iconic staples, increasing popularity and demand for the brand,” Sean Conway, sneaker and streetwear expert at The RealReal, said. “This year New Balance has achieved something that most of its competitors have failed to do: increase resale demand and the value of its styles and colourways. basic.”
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