It is impossible to predict what new TikTok trend will become viral. With niche communities popping up every week, from #BamaRush to #ArchiveFashion, the style-minded discourse on the Gen Z social media platform is becoming one of fashion’s most coveted spots, with creators unearthing old trends, offering lessons in fashion history, and transforming once-forgotten pieces into must-haves with one 60-second video. This phenomenon is causing a boom in sales for the luxury resale market.
According to the 2021 Resale Report by RealReal, Gen Z is the most active generation. It has a 33% increase in purchases year-over-year and an 86% increase in consignment.
Sasha Skoda is head of women’s sales at The RealReal. “We have seen more growth among Gen Z buyers than ever before,” she says. “The rising demand for vintage by Gen Z and millennials is driving up the prices for sought-after vintage handbags at a rate far above their modern counterparts.”
According to the report, Gucci and Louis Vuitton are the top-selling luxury brands over the past two years, followed closely by Chanel, Prada and Dior. It should be noted that Gucci and Louis Vuitton have both become the reigning luxury brands of TikTok, with multiple of their products going viral. . .
Gucci’s Jackie bag is one example. It was first released in 1961, and named after Jacqueline Kennedy. On the app, #gucci .has generated over 3.1 billion views, while the #guccijackie1961 has grown over 21 million views, thanks to creators’ videos sharing their hauls and styling tips, as well as news and historical facts about the brand. According to The RealReal the Gucci Jackie bag’s demand has increased by 50% over the past year, which in turn drove up the average price of the bag by 65%.
The same case was displayed with Louis Vuitton. It currently has more than 3.6 billion users on the app. Meanwhile, its monogram Pochette bag has received over 1 million views via TikTok. According to The RealReal, the popularity of the bag has resulted in a 47% increase in demand year-over-year. Meanwhile, demand for Multi Pochette bags (#lvpochette) has increased by 137%.
Skoda says that luxury investments are a hot topic among Gen Z and millennials. Skoda says that millennial shoppers are now turning to luxury goods for significant returns, even on worn pieces.
The report also revealed that Gen Z is shopping for mules and cocktail rings as well as tops made of crop tops. Meanwhile, millennials are the demographic most likely to shop for barely-there fashion, with cut-outs, mini skirts, and halter tops.