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Business Spotlight: Vestiaire Collective. Access to desirable fashion on Instagram
BY: Instagram Business Team
San Francisco, CA
This has come at a good time, with the expectations of younger fashion shoppers dictating how the fashion landscape changes. Research from ViSenze recently found that more than 60% of UK Gen Y and Gen Z shoppers say they are most likely to complete their shopping transactions on their mobile, and further research by The Business of Fashion and McKinsey reveals that 66% of Gen Y consumers say that they would spend more on sustainable brands. Tapping into the conscious, convenient consumption that defines this younger generation of shoppers is clearly becoming more valuable.
One market that is benefitting from this shift in consumer attitudes is second-hand clothing. Smartly rebranded as ‘recommerce’, a recent report from GlobalData showed the second-hand apparel market to be worth $24 billion, growing to $64 billion by 2028, making it one of the more bullish fashion sectors. And while there was once a time when second-hand fashion was synonymous with musty charity shops, recent research has found that one in four (26%) ‘true-luxury’ shoppers are now buying pre-owned luxury goods.
For resale platforms on Instagram, allowing consumers to smoothly go from discovery to purchase is key. Vestiaire Collective @vestiaireco, a resale marketplace for desirable fashion, perfectly embodies this. Using Instagram as part of its innovative business model, it offers both a playful approach to communication and accessible ways to shop for luxury.
Vestiaire Collective is the brainchild of Fanny Moizant, who alongside her five other co-founders had noticed a spate of Parisian bloggers selling pre-loved clothes online. Recognising the need for security within this growing sector, Vestiaire Collective was launched in 2009 as a marketplace with trust at its heart. Alongside ensuring transactions were trusted — through a rigorous authentication system headed by a team of vintage experts — the brand has also created a sense of accessibility through its Instagram Feed and Stories.
In curating a feed of premium fashion items that people can buy, compare and discover products through, as well as light-hearted posts that tap into meme-culture, Vestiaire Collective leverages the power of Instagram in creating engaging, interactive and shoppable content.
Shoppable tags have made it easier for people to discover and browse Vestiaire Collective’s extensive collection. Whether finding a baguette bag or perusing a pair of mules, the brand’s perfectly curated aesthetic is a shop window for dedicated shoppers and eager followers wishing to discover luxury items.
In fact, 78% of UK consumers said that they took action after seeing product information on Instagram, such as following a brand, visiting its website or making a purchase online.
These marketing strategies are helping the brand to connect authentically with new audiences. As of May 2019, Vestiaire Collective saw 30% year-on-year growth on the number of products listed on the site and with the second-hand luxury resale market set to overtake the luxury market in terms of global profit by 2022, there seems to be no slowing down.
With luxury audiences getting younger – Gen Yers and Zers are expected to account for more than 40% of the luxury market by 2025 – these changing demographics have given rise to new consumer outlooks. For fashion brands, visual platforms like Instagram are a powerful tool for forging authentic connections and converting curiosity into action. After all, almost half (47%) of people surveyed in the UK say they have made a purchase in the moment or after seeing a product or service on Instagram.
Choosing to focus on accessibility rather than exclusivity, Vestiaire Collective is an example of a brand that has evolved with a rapidly changing market, speaking to the new wave of younger luxury consumers on Instagram who are looking for storytelling and a meaningful connection from brands.
People come to Instagram to be inspired, and to discover their new and next fashion item. From the moment of discovery to making a purchase, every part of the mobile shopping experience should feel seamless. Businesses have the opportunity to build more authentic connections with fashion shoppers through content that resonates, taking advantage of all the tools available on the platform:
To learn more about these new ways to shop on Instagram, visit our shopping on Instagram page and read how to get started with an Instagram business account.
If you are ready to sell your products on Instagram get started with step-by-step instructions in the Shopping Set up Guide and find answers to frequently asked questions.
Checkout on Instagram: Read about how businesses will make shopping more convenient with checkout on Instagram.Too see an up-to-date list of the handles using checkout, please look here.
To let us know if your business is interested in checkout on Instagram, visit this link. We are testing checkout in a closed beta, but you can still help us get it ready for a wider release. Tell us more about your business so that we can make checkout on Instagram better for sellers like you.
Download our report, Fashion Forward, to discover key trends in fashion and see how brands are connecting with audiences on Instagram.
BY: Instagram Business Team
San Francisco, CA