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Resale Turned Luxury Into Speculation
- Online resale created an active secondary market, turning some luxury spending into speculative investment.
- Buyers now purchase handbags, watches and trainers to store and resell rather than use.
Social Media Shapes Luxury Demand
- Youth internet culture and social media have made luxury goods a language of status and taste.
- Millennials and Gen Z are buying younger and will represent 80% of luxury spending by 2030 per Bain.
Instagrammers Drove Watch Demand
- Patrick Boyle recounts a friend who sold luxury watches and saw Instagrammers dominate the customer base.
- Buyers chased hot products to stay relevant online, driving demand spikes.