WIRED’s annual trend briefing dives into the booming resale market opportunity
WIRED magazine’s annual trend briefing dubbed “WIRED World in 2022” will be deep diving into the booming opportunity of the resale market in its business section.
Contributing experts include Fanny Moizant, president and co-founder of pre-owned luxury fashion online marketplace Vestiaire Collective.
Exploring the opportunity of the resale economy, Fanny Moizant said: “Resale today is a similar phenomenon to e-commerce in the 1990s, which was also underestimated to begin with.”
“Today, those companies that have embraced e-commerce fully are thriving. Those that did not are struggling or have already disappeared.
“In 2022, we will see a similar transformation of the sector as brands and organisations that ignore the new customer’s needs will slowly but surely lose to their more perceptive competitors.”
She also reveals that Vestiaire Collective’s own research has shown that buying a handbag second-hand rather than opting for new can reduce its environmental impact by up to 91%.
Also covered in the business section will be an exploration of how luxury brands will rely on storytelling in 2022 featuring David Fischer, founder and publisher of streetwear-focused media brand Highsnobiety.
He highlighted how luxury brand will learn from brands such as American skateboarding success story Supreme and French luxury streetwear retailer Colette (which shut its doors in 2017) and how they had “pivoted from being centred on their product and moved towards a bigger universe of storytelling, collaborations, experiences, content and much more.”
“In 2022, luxury brands will gain a clear understanding that selling products is simply a means of engaging today’s global luxury consumer, and not the end,” he added.