When the Past May Drive the Future

Fashion Consort News Bytes

As companies like the Real Real, 1st Dibs and DePop continue to make market share inroads when it comes to overall apparel and accessory sales, two key areas of conversation have emerged.

One focuses on who has the right in a secondary market to sell certain brands. Most notably, Chanel has filed three lawsuits against The RealReal and 15 cease and desist orders. Their core contentions are that they should have complete control over who sells their product; they should always benefit from the sell of their product; and finally, that they are the only ones able to ensure authenticity. While Chanel, and other luxury brands, have long been sold at secondhand stores throughout the world, the difference here is The RealReal’s scale and control.

The other conversation focuses on that of fashion sustainability and the shift of consumer behavior towards buying something used, rather than something new. In fact, this has been a marketing strategy that The RealReal has been using in its television ads. And while there are clear benefits to selling and buying secondhand products, for many this claim seems to be more greenwashing than true. After all, The RealReal relies on a heavy back and forth shipping scheme to receive and sell product. What’s more, the pay out for customers is fairly low, as the company sets the sell price—and therefore potentially undermines the customer’s reason to be part of this transaction

What’s largely missing in these conversations, is a discussion about the long view of brand engagement, especially post-purchase. Typically, marketing strategy is focused on getting a customer back in the door to buy new product, not sell or purchase used product. And yet, by embracing secondhand sales, there is real potential for fashion brands, luxury specifically, to rethink and reengage customers in a more lifelong experience—that recognizes the twists and turns of trends and social behaviors.

For the full transcript, visit: FCNewsBytes.com

Learn more about your ad choices. Visit podcastchoices.com/adchoices