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What’s old is new again
Look for sales of ‘pre-owned’ accessories to soar, predicts WSL Strategic Retail’s Candace Corlett. As more brands and styles launch, women want to shed their old accessories faster—hence the success of auction sites and handbag “leasing” services such as Bag, Borrow or Steal, which allows customers to rent the latest “It” bags for short periods of time. “The pricey handbag that was a must-have in January will be dull when new styles start appearing in the September magazines. So what to do with the one you just finished paying for? Sell it on eBay or Portero.com, or at a vintage shop,” she says. “The emotional rewards of ‘scoring’ a great item on auction or at a vintage shop are catching on fast. One of the biggest threats to established retail channels is the growing popularity of ‘pre-owned’ items—thereby making premium-priced brands accessible to more people.”
Shifting trends also call for increasingly astute advertising strategies. “Retailers need to educate the consumer about how to use accessories to dress for success,” says Cohen. “That’s a huge—and missed—opportunity. Most consumer accessories purchases are driven by impulse. But almost all advertising is based on image, status and pre-determined destination messaging rather than driving consumers toward that impulse.”
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