8 Reasons Why Used Really is the New, New
Dedicated fashionphiles have definitely heard the phrase “Used is the New New” before. It’s one of our favorite sayings, and has been since we launched way back in ‘99–but never has it been more true than right now. That’s because used is having a major moment: one report shows that “recommerce” is set to grow 24 times faster than run-of-the-mill retail in the next five years, with 71% of respondents confirming that they fully plan to jump on the resale bandwagon. See, we told you used is the new new!
So what makes old the hot new thing? Here’s the breakdown.
1. Sustainable and eco-friendly – Fashion moves fast, and its fast-paced production cycle makes it the second-most polluting industry on the planet. Instead of supporting the mass-production machine, you can counteract fashion’s impact on the planet by buying second-hand. Less waste, more luxury.
2. Get money, save money – Buying pre-owned pieces puts money in your pocket no matter what side of the deal you’re on. Sell items on a resale site (like Fashionphile.com, of course) and make money; buy items from a resale site and save up to 75% of the retail price.
3. Investment pieces – One reason resale is skyrocketing right now? These investments hold their value. In fact, analysts have suggested that the Birkin bag is among one of the smarter investment opportunities in the market, beating out gold and the S&P 500 with an average annual return of 14.2% over the past few decades. It’s easy to feel good about purchasing a pre-owned piece when you know that if you don’t end up loving it, you can always resell it for 50 – 80% of what you paid–in other words, it’s a pretty risk-free impulse buy. And if you do love it? Hello, family heirloom.
4. Aging gracefully – A good bag doesn’t need retinol and microdermabrasion to age gracefully! Luxury leather accessories are one-time investments that just get better (and sometimes, more valuable) with age. When you factor in the resale price break, the cost-per-wear is insane.
5. Timelessness over trendiness – Retail is on a tight schedule: constant new collections and limited-run releases lead to a trend-driven shopping landscape. Resale, on the other hand, is style-driven–so you can curate a closet that feels true to you instead of one that’s dictated by the look of the moment.
7. Experience over ownership – We all know that millennials value experiences over ownership (like how you’d rather splurge on a getaway with friends instead of buying an off-the-runway designer bag), and resale turns every purchase into an experience–and one that’s practically risk-free, at that (see #3). Shopping pre-owned pieces is like IRL Rent the Runway, minus the shipping fees; once you’re ready to move on, you can take advantage of our BuyBack program and treat yourself to something new(ish).
8. Realistic luxury – Our goal is to bring a bit of luxury into the every day–and there’s nothing more luxurious than gorgeous, authenticated designer bags at realistic prices.