Since the dawn of mass culture, trends have been dictated by such influences of the ever-present pop culture even in the field of the resale value of luxury goods. Included in the 2023 Clair Report is how consumers are swayed by other people, celebrities and films, television programs and social media which determines the desirability of specific luxury goods, and its consequent saleability.
Use of Celebrities and Social Media
Historically celebrities have served as role models and what they want, becomes the fashion. If a celebrity is seen carrying a particular handbag or a piece of accessory, its sales rises to the peak immediately. For instance, when celebrities are seen using a particular Louis Vuitton or Hermès bag, their popularity also rises pulling an even higher resale price in bag. Likewise, social influencers with many followers can bring changes that will define the status of the new economy, resale market included.
Cinema and Television as Triggers
Another important source where fashions trends are passed on to the public is by way of movies and TV shows. Stars become associated with particular forms or brands, and the articles of clothing they wear becomes popular. For instance, the trend towards clothes and accessories of the 1990s in the recent years can be discussed as the result of the influence yielded by such TV series as “Friends” and “Sex and the City” where characters wore items of luxurious brands. When these shows started getting viewing numbers again with the help of streaming platforms, the desire for the clothes from that time period also got a boost in the second-hand market.
The Power of Nostalgia
The social aspect of vintage luxury goods can be another major influence in the luxury resale market, that is, nostalgia is also to blame. Items that remind people of older generations, in general, and the period of a person’s youth, in particular, are popular during such periods. It has been most alarming where the trend as been observed in use of antiques and retro luxury products. Since people wish to restore the fashions of their young age, they go to the secondary market since pieces that have been produced in the past are not being produced currently.
Conclusion
It is therefore very important that the buyer and the seller in the market for luxury goods take time to understand the effects of pop culture on the resale value of these products. Indeed, using such trends and the components of culture, the consumers can make the right decision in consumption of the luxury items. Whether it is a handbag that has recently gone viral due to its association with a celebrity or a vintage jewelry piece that was purchased due to influence from a popular television serial, the luxury resale market is still being defined by pop culture.
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