Sumary of Farfetch Report: Luxury Buyers Are More Conscious, Brands Are Responding:
In the area of repairs, Farfetch Second Life has seen a 195% increase in customers over the last 12 months.
Farfetch examined data from luxury consumers who interact with such products, including second-hand, and services that help promote the circular economy.
It’s also interesting to note that 65% of second-hand GMV comes from top spenders, retail and platinum customers.
In China, as much as 29% of shoppers made conscious purchases in 2021, and the average age of green shoppers is 32 (compared to 34 for shoppers overall).
At the same time, 22% said they started selling unneeded fashion items in the last 12 months and 20% have donated a used fashion item in the last year, while 13% have repaired one.
79% of those surveyed said they had become more sustainable in some way over the past year.
The company classifies conscious products as those that are made from recognized or third-party certified materials, that result from a certified production process, that are second-hand, or that belong to a brand recognized by the ethics rating agency Good on You was rated well.
