Don’t Let the Luxury Goods Shortages Ruin Everything
Even if you haven’t been paying attention, chances are you have recently experienced stock shortages.
Business and economic experts encourage consumers to start purchasing gifts earlier than usual for all holidays (not just Christmas!) for at least another year. Top global wholesale suppliers and retailers like Amazon Prime and Target are constantly pushing back delivery dates after the point of initial purchase. As weary shoppers turn to 2022, they are desperate and looking for solutions to regularly ending up empty-handed.
SUPPLY CHAIN SHORTAGES MEAN THE RESALE MARKET IS BOOMING.
Supply chain setbacks are leaving small to large businesses with limited inventory. “Shortages are impacting all industries, but especially in the retail industry. Faced with major disruptions and headaches, retailers feel the brunt of the supply chain issues from both retailers and consumers. Unfortunately, consumers will bear the brunt of the financial burden and pay a premium due to everything from the scarcity of inventory to shipping delays,” said Emily Erkel, co-founder LePrix Wholesale, ,the largest, most trusted wholesale platform to source pre-owned luxury.
“We are also seeing sporadic restocking and unexpected shortages from nearly all luxury brands lately. It has become difficult to find popular and classic styles when shopping in boutiques, designer stores, and online. That’s why it’s smart to shop pre-owned for the holidays and into 2022,” explains Jenna Padilla, Real Authentication, the global authority in luxury authentication.
“With continued logistical constraints hitting nearly every category and retailer nationwide, sales of new products will likely be restricted,” explains Roxanne Meyer, an analyst for MKM Partners. “We believe Poshmark and the resale sector are well-positioned to take market share in Q4 as supply chain issues linger.”
According to a survey conducted by Mercari, this year’s secondhand online retail market is expected to be over $65 billion, which is an all-time high for the industry. Mercari’s data also resulted in three in four people surveyed saying they will likely buy at least one secondhand item this holiday season. The resale market will benefit both buyers and sellers.
Buyers, Shop Earlier and Get Items Authenticated
Padilla warns, “since shopping secondhand is growing in popularity, it is crucial to have everything authenticated. Since shortages drive up the resale value, sellers are thriving. However, the increased value of luxury goods tends to increase the production of counterfeits. Scammers are adding high-quality counterfeits to the secondhand marketplace with the hopes of making quick and easy cash. Prosperous sellers know the importance of getting their items authenticated, but buyers need to beware and be far more proactive in protecting themselves. With Real Authentication, a minimum of two experts review every order to ensure your purchase is indeed authentic, in 24-hours or less.”
Buyers need to plan their shopping better by shopping extra early to ensure plenty of time to find items, get an authentication, and account for delayed shipping times. With many online resale platforms available such as LePrix, Poshmark, ThredUp, Mercari, eBay, Vinted, and Depop, you will find the perfect gifts for your loved ones and friends. However, it is essential to buy with caution because there are counterfeit items out on the secondhand market, and it takes an expert eye to know if something is fake online.
- If a price seems too good to be true or a seller is unwilling to provide clear images of the item, it is best to avoid the purchase.
- If pricing and image quality all seem plausible, send the item to be authenticated with Real Authentication to ensure your potential purchase is indeed authentic.
Resellers, List Early with Authenticity Certification to Maximize Client Trust and Profit Margins.
“Most of our retail buyers at LePrix Wholesale are stocking up on the usual bestsellers such as Louis Vuitton Neverfull totes and Gucci shoulder bags, but we are experiencing demand surges for bags that are hard to find. The scarcity of certain bags in the consumer market like Hermès Birkins and Kellys and the constant price increases in Chanel classic flaps have caused retailers to re-shift budgets towards procuring more of these higher in-demand bags. With over 150,000 new arrivals of pre-owned Louis Vuitton, Chanel, Hermès, Dior, and more every month, we are happy to report retailers of all sizes found the breadth they needed to prepare for the holiday rush and beyond”, said Erkel.
Resellers need to prepare for the high demand of Q4 and 2022 by getting inventory earlier, stocking up on shipping supplies, and listing items earlier than usual to capture the attention of the influx of early shoppers. Take time to strategize, because the right inventory at the right time matters now more than ever.
“In addition, if they want to increase trust and minimize purchase hesitancy, it is crucial to show proof of authentication with Certificates of Authenticity from Real Authentication. The last thing a reseller needs is to hit their ratings and bottom line with a one-star review and returned items,” Erkel explains.
LePrix special offer
If you’re a business looking to source pre-owned luxury on LePrix Wholesale, just mention “Real Authentication” and receive $100 credit on your first purchase of $1000+.
Ready to get started authenticating today?