Posted by Alex Jackson on 10th May 2019
Neiman Marcus is not a store that you would commonly associate with second-hand goods, but it very soon may be. Neiman Marcus is not planning on selling second hand in store just yet, they are simply buying second-hand thru their new partnership with Fashionphile an e-commerce platform which specializes in the resale of pre-owned luxury goods such as handbags, jewelry, and other accessories. The concept is straightforward Neiman wants to help their customers turn their gently loved luxury goods into cash which in theory they can then spend instore on new purchases. To some, it may seem like a potentially risky play with the brand's image and prestige but it’s actually a savvy way to entice in a younger shopper.
Neiman Marcus’s core consumer is in the 50+ age range and they want to bring that number down. The idea is that Neiman can potentially persuade a younger consumer to come in and shop if given some incentive in the form of trading in that old luxury handbag for cash in order to spend on this seasons model. Now this may seem like not a big deal to some but it’s actually a backchannel way for Neiman Marcus to get a foothold into the rapidly growing and lucrative secondary market with minimal exposure to its core business. They are essentially now buying and selling secondhand just with a few degrees of separation.
Neiman Marcus sells secondhand so what? What’s this got to do with me? This is just further evidence that the secondary retail market is in a period of rapid expansion and that established players can no longer turn a blind eye to it. We are talking about a highly prestigious luxury retailer getting into the secondary market of consumer goods. That means there’s a lot of money at stake for a company like Neiman Marcus to venture into the field.
Want to get in on this action? As a reseller, you have access to these same type's of luxury goods from foxliquidaion.com. Still wondering if there’s money to be made in customer return condition merchandise? the answer is yes, and in particular in the high-end luxury goods. Look at Foxliquidation’s offerings in categories like Designer Purse, High End Designer, Closeout Jewelry these are all categories containing high-end luxury goods that consumers are shopping for and willing and able to pay premium prices for even in second-hand condition. The secondary market for consumer goods is no passing phase and there is a lot of profit to be made, especially if luxury retailers are willing to risk their brand's prestige to get into the action.