Since the beginning of this decade, we have only worn and seen people in sweatpants and matching facemasks. Yes, athleisure and a cloth face cover have been the top priority among many people, but an essential accessory missing from most people’s wardrobes has been designer handbags. Taking the notion a little further is handbag design software, a customization solution that allows customers to design their bags in the way they like it and flaunt it to the world. The custom-made solution enables your buyers to add accessories to their wardrobe that people couldn’t stop talking about. On top of it, its digital solution enables customers to seamlessly design and preview the customized bag in 3d and then head for final payment.
Bags Design Software Offers Solutions to Thrive in the Dynamic Online Marketplace
Bags have become an integral part of our wardrobes and are used to convey the mood, comfort, and style of the person carrying them. For a long time, the luxury industry for being too trend-setter and damaging the environment. Consequently, brands had to listen to buyers and crucial stakeholders to listen and understand the ways that could help them to revamp their business model and at the same time take their business to new heights. As usual, technology has all the answers that one is looking for, and this time, it has come up with digital solutions and resale strategies. And with rising interest and awareness among customers, brands are on the verge of exploring some untapped opportunities that will prove profitable in the days to come. And one such solution is a secondhand market or resale market.
According to the reports published, it has been found that the luxury secondhand market is growing four times faster than the primary luxury market, at 12 per cent per year versus 3 per cent. Luxury resale already represents a $24 billion market today. The rise in sales could be attributed to the emergence of digital technology in the luxury industry and the surging need to control the overuse of leather and overproduction.
In the past seven months, leading luxury resellers have reportedly witnessed an increase in sales with the most expensive and designer bags, such as the Hermes Kelly Bag, the Louis Vuitton Eva bag, and the Chanel Double Flap Bag. The sales came as a surprise for many as they hadn’t anticipated that wearing nice clothes with trendy bags would be such a hit in the corona period. Additionally, when the industry was facing some of the unprecedented crises across the global economies continue to witness downturns, luxury purses are not on the top list of spending priorities. But the data tell a different story.
Moreover, as resellers scale up, they compete more directly with fast fashion than with the luxury brands themselves. Resellers are laser-focused on scaling, and they’re currently looking to do so through new investments in technology that enable algorithmic curation and AI-powered authentication. However, there are exceptions in the industry, as some brands, such as Kering, took a 5 per cent minority stake in the French luxury resale platform Vestiaire Collective at the beginning of March this year. Many have their eyes to this shift in business strategy, as it is considered the strongest and most sought-after joining forces between the worlds of luxury brands and resale. Luxury brands are beginning to see resellers as allies instead of enemies.
Blending two different worlds may seem overwhelming; however, we have a panacea that goes by the name bag design online. It is a customization solution that brings together the best of both worlds, that is, through the tool, your buyers can design any bag they like from your e-catalogue, and you only have to manufacture what has been asked from you. The custom-made solution empowers brands to cater to the dynamic needs of customers and reduce the burden on the planet through its digital technology as it prevents customers from throwing away the product and increasing the landfill.
Let us look at the various factors and success stories of the various luxury brands and take inspiration from them to excel in the fashion industry:
- Using AI-Powered Technology
Digital technology has become an integral part of our lives, and many emerging brands are capitalizing on the latest trends. One example to support the notion is Rebag, whose app can be downloaded from any app store, allowing buyers to take a snap of the bag they like and think of selling their bags with the camera phone. The Clair AI produces a handful of search results, and customers can choose a match, and the tool generates a price. Additionally, the recent events have accelerated the use of more app-based brands and drove the resale trend. As a result, the brand observed50% revenue growth in the last year.
This all seems to be the tip of the iceberg, and with each passing day, the more advanced technology will puh the online and digital economy and resale could get bigger than what you see right now. The new-age technology will help buyers to view the world beyond their closet and see what others have bought and are up to in the fashion world. The virtual representations of the bags enable buyers to snap photos of the bags on the show. Clair AI could turn Fendi baguettes into It bags all over again, only this time around, they’d be second-, third-, or even fourth-hand.
- Appealing to the Millennials
These days practically everyone is addicted to vintage and resale sites, spending untold hours both looking for things to love and consigning things that, despite their exquisite provenances, they don’t want anymore. The group especially propelling the growth of resales is millennials. There might be a good reason for all of this. As the pandemic upended our lives, the supply chains throughout the apparel industry took a massive hit. Some halted production to make PPE, and others pulled seasons off the production line entirely. At the same time, demand for those bags went up as some millennials, who were previously travelling three times per year on average, according to AARP, couldn’t spend money on experiences and instead turned their eye toward a new type of luxury.
Traditionally, millennials have been more sustainability-minded than the generations before. On top of that, most consumer studies show that the millennials, along withGeneration Z, have been the greatest contributors to growth in the luxury market because they value quality. Resale not only offers a more affordable baseline with easy financing options through third-party platforms like Afterpay and Affirm, but it also encourages buyers to engage in both the buying and selling process.
Make an Informed Decisions-
To sum up the blog, it would be appropriate to assume that anyone interested in buying handbags opts for resale bags. And as luxury resale continues to rise courtesy of digital technology and better financing options for buyers who don’t wish to spend the money upfront. Likewise, the handbag customization software by iDesigniBuy enables brands to bring the best of both worlds, that is, ensure customers get what they are looking for and are not surprised by the prices. The tool allows your buyers to get a complete view of the product they are buying and can also check the product’s price as they customize it. The digital feature in the tool ensures brands establish transparency with their customers and no bags are wasted.
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