Covid-19 has made most shoppers cost-conscious this holiday season, but those with cash to burn are still finding ways to splurge. As retail sales in general suffer, luxury fashion—the previously owned kind—is flying off the shelves.
Peer-to-peer online luxury consignment shop Tradesy reported a jump in sales over the past few weeks. Customers are stocking up on used high-end shoes, jewelry and handbags. The Santa Monica, California-based company usually doesn’t see a spike in purchases this time of year, said Tradesy Chief Executive Officer Tracy DiNunzio. But 2020 is different.
Sales of rings this month soared 92% compared with last year, DiNunzio said, Cartier being a customer favorite. Sales of Saint Laurent boots meanwhile climbed 36%. She attributes her increased sales to a sense among consumers of doing their part—leaning toward sustainability in a time of crisis.