Rebag Releases its first Clair Report, a consumer resource that covers value and trend shifts within the luxury resale market
The company simultaneously adds new features to its Clair software suite, including historical price tracking and QR-code traceability
NEW YORK, Oct. 1, 2020 /PRNewswire/ -- Rebag, the luxury resale authority, releases the first edition of its Clair Report, a consumer resource covering shifts within the luxury resale market pertaining to retained brand value and pricing trends. Rebag first revealed Clair, the Comprehensive Luxury Appraisal Index for Resale, in October 2019 as a way for consumers to instantly reveal the resale value of any handbag and accessory that they already own, or are thinking of purchasing.
"Since launching Clair in October 2019, our submissions have almost tripled," says Charles Gorra, CEO and Founder of Rebag. "We see that as customers validating our approach to providing radical transparency. The resale industry is constantly changing. The Clair Report is our way of tracking those changes, sharing them with the public, and empowering consumers to make informed decisions and investments."
Key Insights from the Clair Report
Value retention in the resale market is a proxy for luxury brands' equity
- Hermès handbags top the market and maintain, on average, 80% of their value
- Chanel and Louis Vuitton have strong resale demand with 63% average value retention
- Dior and Bottega Veneta are the faster risers in 2020 vs. 2019, respectively moving from 43% to 56%, and from 28% to 38%, therefore confirming the positive impact of their designer changes
Pricing and availability in the primary market deeply affects resale value
- Double-digit retail price increases in Q2 2020 for items such as the Chanel Classic Flap were closely followed by similar value increases in the resale market
- Handbags' scarcity, such as the Louis Vuitton Eva Crossbody, which currently trades 84% over retail, will result in the resale value possibly skyrocketing
Accessories follow different patterns than handbags
- Add-on accessories such as key and card holders, pochettes and pouches preserve the closest value to retail often over 85%
- Wallets' rankings are topped by Christian Dior, Saint Laurent, Celine and Gucci
Rebag is also debuting two new features as part of its Clair software suite. In an industry first, a real-time price tracking functionality will become available so that users can trace the historical evolution of resale values. Rebag users can now "follow" Clair Codes that they want to track and get updates on price changes so they are armed with the knowledge about when it is best to sell, or if they should buy as an investment now.
Additionally, Rebag is building on the game-changing transparency brought to the resale industry by providing enhanced traceability. Now, when consumers purchase an item from Rebag both online and offline, they will receive a card with a unique QR code that drives to a dedicated web page containing all details for the item they purchased.
The Clair Report will live within Rebag's newly launched content hub on Rebag.com, The Vault, a treasure trove of luxury handbag and accessory resources based on the data and knowledge gathered by Rebag over the past six years.
For more information, and to access the Clair Report, visit rebag.com/clairreport.
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About Rebag:
Rebag, the authority on buying and selling luxury goods, is currently one of the fastest growing retailers in the US and has established itself as a leader in the luxury re-commerce space. Founded by Charles Gorra, what makes Rebag unique is the ability to sell your designer goods and receive upfront payment. Since 2014, the digitally native company has opened retail locations in New York, Los Angeles and Miami. In 2020, Rebag was named one of Fast Company's Most Innovative Companies. Rebag has been featured in the New York Times, Business of Fashion, VOGUE, TechCrunch and more. Rebag is independent from any brand affiliation.
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