eBay releases luxury trend report

In response to the ongoing rise in luxury resale, eBay has released its Luxury Trend Report detailing emerging styles, consumer demands and brand popularity.

The report was carried out among US luxury buyers, with the results only confirming the demand for luxury items. According to the report, over the past year, 62 percent of luxury buyers spent over 1,000 dollars, including 32 percent who spent over 2,500 dollars. Men were a large part of the buyer group, with 76 percent buying pre-owned luxury and 57 percent buying at least once a month. This compared to only 37 percent of female shoppers, who were also less likely to sell their luxury items.

Luxury watch sales reached an all-time high, with more than 25,000 watches sold in the first half of 2021. In addition, it was found that the Hermés Birkin and Kelly bags made up 60 percent of the most expensive handbags sold on eBay for the past two years. The results are in stark contrast to the many reports over the past year that suggested the industry was in a struggle due to the pandemic. It implies that pre-owned luxury prevails over that of new items.

The report follows eBay’s decision to begin including handbags in its Authenticity Guarantee, assuring branded bags over the price of 500 dollars are examined with a multi-point authentication inspection. The company now says it has authenticated more than one million items, including trainers, watches and handbags. The addition falls in line with the results from the report that states 69 percent of luxury buyers shop pre-owned goods with 96 percent of those stressing the importance of authentication before purchasing.

In order to further involve itself in the luxury hype, the report runs alongside a two day campaign by the second-hand market site, which unveiled two luxury handbag vending machines in US cities. The devices are part of an in-person competition that tests participants on luxury-based knowledge, with winners given the chance to take home a luxury bag from a coveted brand, such as Hermés, Chanel, Prada and Louis Vuitton. The two machines are placed in Brooklyn and Los Angeles, where individuals can sign up to participate online.