Not-so fast fashion

As more people are made aware of the environmental damage caused by fast fashion, many are looking for better ways to be sustainable and stylish at the same time. By investing in name-brand items, which tend to be better made and last longer, purchase frequency tends to go down.

“I think the other component is around sustainability. We know 40% of our customers tell us that the availability of luxury retailers is helping them move away from fast fashion and make a better choice for themselves that they’re more proud of,” Shakked said.

And maybe people can start feeling like they can not only say the designer of their clothing, but also that they got it secondhand. “There’s a sort of coming-out moment for resale where people can say, ‘Yeah, actually, this item is pre-owned and look how incredible it looks,’” he added.