Taylor Swift, TikTok drive luxury resale trends in 2024
A new study from luxury resale platform Rebag reveals that celebrities and social media have a big impact on consumer behavior in the space.
According to the fifth annual Clair (Comprehensive Luxury Appraisal Index for Resale) Report from Rebag, pop stars Taylor Swift and Charli XCX and the TikTok video-focused social media platform were major influencers on luxury resale during the past year.
Following are highlights from the report’s findings:
Taylor Swift
Reflecting a broader trend of attendees of Taylor Swift’s “Eras” tour being prompted to make purchases related to the concert, several petite, concert-sized designer handbags by Prada, Chanel, and Fendi achieved 100% or higher average value retention in 2024.
Other Swift-linked luxury items, such as the Louis Vuitton Coussin bag, saw dramatic increases in value retention as tracked by Rebag.
Charli XCX
According to Rebag, the "brat green" trend spurred by Charli XCX's album "Brat" released in June 2024 influenced the value retention of certain “brat green”-hued designer handbags.
"Brat green" features a lime hue that has influenced the value retention of certain designer handbags. Examples include the Bottega Veneta Padded Cassette bag in "brat green," which saw its value as tracked by the Clair Report climb by 20%, and the Balenciaga Hourglass Top Handle in the same color, which experienced a 17% increase in value during the past year.
TikTok
The "very demure, very mindful" TikTok trend, initiated by social influencer Jools Lebron, promotes a satirical take on modesty and mindfulness in daily life. According to the Clair Report, this trend coincides with the rising popularity of "ladylike" accessories, particularly top-handle bags.
Top performers in the category include Hermès Kelly Mini II bag (150% retained retail value), Chanel Kelly top handle shopping bag (131% retained retail value), Loewe Puzzle bag (93% retained retail value) and Dior My ABCDior Lady Dior bag (82% retained retail value).
“2024 has proven to be an exciting year for the luxury resale market, with a variety of dynamic shifts influenced by the strength of brand value, emerging celebrity- and social media-influenced trends, and evolving consumer behaviors," said Charles Gorra, CEO and founder of Rebag. "This year’s Clair Report highlights the brands and styles that are not only thriving today but also demonstrating significant potential as long-term investment opportunities."
Rebag’s 2024 Clair Report contains research and data from Clair, Rebag’s proprietary luxury appraisal index that uses several factors, including retail price, demand, and research to determine the exact pricing of Rebag items for cash or credit. Rebag analysts culled from data from the trailing 12 months to determine the biggest movers on the luxury resale market.
[READ MORE: Rebag debuts paid membership program]
Founded by Charles Gorra in 2014, digitally native Rebag has opened retail locations in New York, Los Angeles and Florida.
