Retailing second-hand luxury goods: Logical continuation or change of paradigm? / Jeanne FORLIVESI / 2022

Titre : Retailing second-hand luxury goods: Logical continuation or change of paradigm? Type de document : Mémoire Auteurs : Jeanne FORLIVESI, Auteur Année de publication : 2022 Importance : 35 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de la page. Langues : Anglais (eng) Mots-clés : Management INDUSTRIE DU LUXE SECTEUR ; TECHNIQUE DE VENTE ; VENTE Résumé : Since 2015, the personal luxury-goods second-hand market worldwide rose by 94% and was valued to 33 billion U.S. dollars in 2021. Growing four times faster than the luxury industry overall, it is expected to keep increasing steadily for the next coming years, to reach an estimated 47-billion-U.S. dollar market size by 2025 (Statista, 2022). Being still in its early stages, this market leaves plenty of room and opportunities for brands and retailers to act up, shape demand and stake their claim. The concept of second-hand consumption begins in Europe in the eighteenth century. During the industrialization era, the thrifting practice is stigmatized as it is associated with a sign of poverty, and second-hand products are regarded as the discarded goods of others (Van Damme and Vermoesen, 2009). This opinion is very much reinforced by the mass production, influencing the perception of “new items” as valuable and desirable. Second-hand goods only regained their popularity in the 2000s, as it appeared as an alternative consumption channel and a counterpoint to conventional retailing. Nowadays, the expansion of second-hand luxury sales is nurtured by several converging factors, of which the increase of online sales and the development of online reselling platform such as Vestiaire Collective or Vinted, combined to a change in consumers preferences, and above all a rising concern of Generation-Z consumers for the environment and the notion of sustainability regarding luxury goods (Bianchi et al., 2020). If the COVID-19 crisis offered a wide time to reflect upon consumption practices and contributed to accelerate the trend, it was already well underway prior to the outbreak, and particularly due to social media and digitalization with their impressive power of influence and purchase driving. However, if research conducted so far focused primarily on the motives and meaning of second-hand luxury consumption, the link with retail was more seldomly discussed. In fact, Guiot & Roux (2010) studied how consumers’ motivations were related to distribution channels and the implications for retailers. Yet, those implications were deduced, and not actively asked to respondents, who might have had precise opinions on what they expected in terms on eventual gaps and improvements to be made by retailers and more globally by the luxury industry. Moreover, the aforesaid research has been published more than ten years ago, thus may require some actualization considering the latest changes of this past decade which fostered the emergence of second-hand luxury thrift stores and digital platforms, witnessed luxury brands increasingly looking toward second-hand offers, while heavily relying on digitalization and social media. That is why the link existing between consumers’ perceptions, motivations and shopping behaviors with what they expect for the future of second-hand luxury retail is yet to be deepen and will consists in the main object of interest of this study. Programme : MSc Luxury Marketing Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=564581