On Wednesday, The RealReal released its 2024 Luxury Resale Report, which hints at a handful of aesthetic shifts on fashion’s horizon. One of the most prominent? A declining interest in streetwear — at least in the resale market.
The report found that shoppers are trading in women’s sneakers for ballet flats, mid-height heels and loafers. Similarly, the popularity of brands traditionally grouped in the “streetwear” category is waning: Supreme took a 25% dive in sales, while Off-White clocked a 34% dip year-over-year.
Noelle Sciacca, associate director of fashion and strategic partnerships, attributed this decline to the death of Virgil Abloh and Kanye West‘s fall from public favor, as they were both “key personalities behind the movement.” As she put it, in a statement: “The community welcomed a shift into something new.”
“Around the same time, we saw the widespread rise of quiet luxury,” she continued. “Customers stocked their closets with neutral colored blazers, trousers and minimalist suiting separates. Over time, however, fatigue for the simple uniform began to set in, and there was an increased desire again for self expression.”
The report identified three new directions in which consumer tastes are going. The first is a new spin on business casual Sciacca described as “corporate appropriation,” which marks a shift towards tailoring and formality, away from some of the slouchy comfort that became normal during the pandemic. This has led to a rise in interest in ties, skirt suits, shoulder-padded blazers and wide-leg trousers, per The RealReal.
“These pieces — which were once symbols of power and the nine-to-five grind — have been adopted for the streets in an unrestricted way,” Sciacca said, noting that Miu Miu has helped boost a “newfound love of unconventional outfit combinations.” It was only a matter of time, she added: “Each generation has an affinity to reinterpret popular styles from the past. We witnessed the Y2K fashion resurrection, and now there’s an increased interest in 1980s and 1990s workwear.”
Western-wear is having a major moment in resale, too, thanks to cultural moments like Beyoncé‘s “Cowboy Carter” album. Searches for vintage Levi‘s and fringe leather, for example, are both up nearly 70%.
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The third big trend highlighted in the report is vintage. The RealReal found that shoppers are searching for older pieces from Issey Miyake, John Galliano, Vivienne Westwood and Tom Ford‘s Gucci on the platform more than ever before. Labels like Claude Montana (who died in February 2024), Courrèges and Romeo Gigli saw spikes in interest, too. These harder-to-find items offer customers a way to show their distinguished taste in an epoch of micro-trends.
Louis Vuitton claimed the number-one spot for The RealReal’s most-searched brand, boosted by Pharrell‘s menswear runways. Chanel (which currently doesn’t have a creative director, following Virginie Viard’s surprise exit in June) claimed second place, and Prada third. The latter, however, was highlighted as the most-searched brand by Gen Z.
The RealReal noted how shoppers are spending 20% more on handbags than they were five years ago. Hermès‘ Kelly and Chanel’s flap still dominate the category, but there’s an increase in demand for styles priced between $1,000 and $3,000, making less conspicuous, if-you-know-you-know” silhouettes more popular, like Alaïa‘s Le Teckel shoulder bag, Toteme‘s T-Lock and Savette’s Pochette, per Sciacca.
Putting its authentication practices to the test, the company also highlighted a new wave of “superfakes,” or counterfeit luxury handbags that appear dizzyingly similar to the real thing, coming onto the market, primarily knocking off quieter styles by The Row and Celine (as opposed to the usual suspects like Louis Vuitton and Chanel). It reported intercepting more than 7,000 fake handbags so far this year.
In accessories, The RealReal observed a move towards maximalist jewelry, especially cuff bracelets: Searches for gold bangles are up 353%, while Tiffany’s famous Bone Cuff by Elsa Peretti is up 118% year-over-year. Tennis necklaces are also in higher demand.
“Fashion is undergoing a seismic shift: Trends less frequently flow from the top (runways), and are now emerging from the ground up through things like TikTok, television shows and everyday street style,” The RealReal President and COO Rati Sahi Levesque wrote, in the report, which you can read in full here.
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