The 'Resale Calculator' created by the Vestiaire Collective calculates the average resale price for luxury brands.
The Vestiaire Collective is an European luxury resale site that has just launched an easy-to-use tool to find the resale value of an item. The Resale Calculator is limited to 12 luxury brands, including Chanel, Louis Vuitton, Hermes, Louboutin and Prada. After selecting a brand, and entering in the criteria, it will give a range for how much the resale value could be for the item.
The range projected by the calculator is taken from the data Vestiaire has from its years in business and over 5 million members. The calculator was created after Vestiaire realized many of its users were spending considerable time attempting to calculate the resale value, so they streamlined the resale process by creating an easy-to-use calculator right on the resale site.
Vestiaire Collective's 'Resale Calculator' Finds the Average Price
1. Luxury Resale - The 'Resale Calculator' highlights the growing trend of luxury resale platforms that provide tools to calculate the resale value of items.
2. Data-driven Resale - The use of data by Vestiaire Collective's 'Resale Calculator' showcases the trend of leveraging data to provide accurate and personalized resale value estimates.
3. Streamlined Resale Process - Vestiaire Collective's 'Resale Calculator' reflects the trend of simplifying and optimizing the resale process through the integration of technology and user-friendly interfaces.
1. Luxury Fashion - The luxury fashion industry can leverage the 'Resale Calculator' trend to enhance customer experience and retain value in the secondary market.
2. E-commerce - The e-commerce industry can explore opportunities to integrate resale calculators to offer added value to customers and increase repeat purchases.
3. Data Analytics - The data analytics industry can partner with luxury resale platforms to provide insights and optimization strategies based on resale value trends and market demand.