JNA Mar/ Apr 2022

市场情报 JNA Mar/Apr 2022 | 53 Younger luxury consumers are the largest participants in the secondhand market, with 54 per cent of Generation Z and 48 per cent of millennial luxury customers buying pre-owned goods. – Boston Consulting Group Luxury jewellers are leading initiatives to address rising demand for sustainability in the jewellery industry. According to the Global Diamond Industry 2021–22 prepared by the Antwerp World Diamond Centre and Bain & Co, diamond jewellery retailers last year expanded their offerings to include several sustainability-led measures such as traceability programmes and collections of recycled gold and preowned jewellery. LVMH-owned Tiffany & Co unveiled a jewellery line produced from recycled gold while diamond retailer Signet released a collection of reclaimed gold and repurposed diamonds. Kering meanwhile acquired a 5 per cent stake in Vestiaire Collective, an e-commerce platform for pre-owned luxury items. InNovember 2021, Bain&Co reported that the secondhand luxury market survived and thrived throughout the Covid-19 crisis. The company expects the second-hand luxury market to have reached EUR33 billion (around US$37.5 billion) in 2021, driven by increased demand and a growing competitive arena. By comparison, the segment grew by 65 per cent between 2017 and 2021 as opposed to a 12 per cent growth in the first-hand luxury market during the same period. A separate study by the Boston Consulting Group (BCG) meanwhile revealed that the‌ ‌global‌ ‌market‌ ‌for‌ ‌second-hand‌‌luxury‌‌goods‌such as ‌jewellery‌‌and‌‌watches‌ is ‌growing‌‌at‌‌8‌‌per‌‌cent‌‌a‌‌year. Sustainable appeal Growth in the second-hand luxury market has been unprecedented. According to Andrew Brown, CEO of online jewellery sales platforms myGemma.com and WP Diamonds, this can be attributed to a combination of reduced prices on authenticated luxury resale, a focus on sustainability and consumers’ aspirational buying. “The jewellery resale market presents the opportunity to not only buy current models of branded collections at a significant discount to retail prices, but it also enables consumers to find pieces that are no longer in production or are one of a kind,” explained Brown. “Our experts authenticate every piece, meaning that you are able to purchase the jewellery you want at the best price. We have jewellery ranging from US$200 to hundreds of thousands of dollars.” Launched in 2012, WP Diamonds provides a transparent and secure way to sell luxury goods online, from engagement rings to luxury timepieces and handbags in as little as 24 hours. In 2018, myGemma. com was launched as the company’s e-commerce marketplace. To date, top-selling items there are designer bags, bracelets and luxury watches. “We have been working online with consumers since 2012, buying personal luxury goods from them through our WPDiamonds.com franchise and we wanted to sell directly to consumers through our own platform – myGemma.com,” stated Brown. Since its launch, myGemma.com has consistently performed above par. Pre-owned jewellery sales through the platform were up 75 per cent last year versus the prior year, mirroring growth in the overall luxury market in 2021.

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