Luxury resale market is surging as consumers embrace 'better for less' ethos

Consumers, particularly millennials and Gen Z, are increasingly turning to pre-owned statement designer items for summer events, says eBay. This trend, dubbed the "Brat Green summer" by industry insiders, reflects a broader shift towards sustainable fashion and value-driven purchasing.

Recent data from eBay reveals a marked increase in searches for statement accessories with searches for "statement bags" climbing 40 percent, while specific brands like Loewe have experienced a 35 percent surge in popularity.

This trend is partly driven by societal pressures, eBay notes, with 45 percent of consumers reporting that expectations to dress uniquely for each event are influencing their purchasing decisions. The financial implications are significant, with one in five Gen-Z and millennial consumers spending at least 300 pounds per occasion.

However, the rise of "girl maths" - a concept adopted by 40 percent of shoppers to calculate the cost-per-wear of fashion items - is making luxury more accessible. For instance, a pre-owned Fendi Baguette, available on eBay for 750 pounds (over 70 percent below retail), equates to less than 65 pounds per wear if used monthly for a year.

Mari Corella, eBay's General Manager for Global Sneakers and Luxury, comments on the trend: "As the summer event season kicks off, shoppers are seeking versatile sought-after branded pieces for many upcoming occasions; they have value front of mind, but also want to make a statement. Millennials and Gen Z in particular are leading the charge of this 'better for less' mindset, searching for unique, standout items to add to their collections."

The luxury resale market's growth reflects a broader trend in consumer behaviour, balancing desire for high-end brands with financial prudence and sustainability concerns. Data from McKinsey says: "Specialised digital platforms for trading pre-used goods, with a 25–30 percent market share, are driving much of the sector’s growth, with a predicted expansion of 20–30 percent per annum.”

Journalist and TV presenter Candice Brathwaite, commented: “When it comes to my summer looks, I'm all about bringing in bright colours and making a statement; who wants to be boring? I'm always hunting for that standout dress or bag to complete a full look and ensure I’m bringing main event energy to all events this summer. My long-term love affair with eBay has served me well for pre-loved fashion and luxury without the hefty price tag. From my bright green Prada Raffia tote to my bold Gucci Flora Jackie, these accessories always stand out without ever losing their style."