Second-Hand Luxury: A Threat or an Opportunity for Luxury Brands? An Explorative Study on the Second-hand Luxury Experience

Abstract

The popularity of the second-hand luxury market, fostered by digitization and the change in consumers’ behaviours, contributes to the increasing influence this market has over the general luxury one. Becoming a popular way in which consumers access luxury, is today a relevant touchpoint between the consumer and the luxury brand. Due to the influence different brand related experiences have on luxury brands, it is the purpose of the study to shed light on how second-hand luxury experiences influence the overall luxury brand experience. Throughout an explorative study of the second-hand luxury phenomenon, qualitative semi-structured interviews are conducted with second-hand consumers. The findings indicate that second-hand luxury experiences influence the brand experience on a sensorial, cognitive, behavioural, affective and social level. Here different brand related stimuli were found to be relevant, like the resale value, uniqueness of the product, availability of popular products, packaging, past owner presence, perceived preciousness, sustainability and brand involvement. The findings contribute with novel knowledge and theoretical implications to the topic of second-hand luxury and brand experience in the context of luxury brands as well as with new insights for managerial decision-making.