Gen-Z is leading the trend of “shopping to sell” designer fashions.
The RealReal, an online consignment platform, saw a 50% jump in the first half of this year in the reselling of items bought on the site by Gen Z customers, according to Sasha Skoda, senior director of women's merchandising at the company. “What's really interesting about this cohort is that they're reselling what they buy much faster than any other demo,” she states.
Top labels sold by Gen Z include Prada and Reformation. One brand bought in higher numbers included Balenciaga with promotions completed by celebrities such as Kim Kardashian, and Justin Bieber. Cartier still ranks high in terms of jewlery. The world of luxury is also experiencing brand new tastes that are very common among Gen-Z like mini skirts, and baby t-shirts! The total opposite of Milennial Shoppers.
The world is becoming a playground for the new and upcoming era of consumers. Gen-Z makes up most of the target numbers in marketing and social media strategy. Milennials are now shedding old skin and finding new ways of remaining stylish and still being financially "confident".
What are your thoughts? Is Gen-Z the era of innovation and new living?