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It has now been more than 5 business days…. Finally I got a similar message that said that the refund has been issued and that I will receive it in 5 business days. They sent so many apologies but nothing that helped the situation. This time they said there was an issue with the refund and they will handle it. They told me that it will take 5 business days for the amount to be reflected on my account. Apparently the glasses arrived broken to Vestiaire and they asked me if I still wanted them or if I want a refund.
#Vestiaire collective update
They told me that they will get me an update about the glasses. After two weeks I contacted customer service and they responded quite quickly. I noticed that I didn’t receive any updates after the glasses arrived to authentication. I ordered Gucci sunglasses almost two months ago for summer.
This is so bad! This company is stealing and cheating customers out of money by changing the currencies behind their back. I asked to cancel the order, they answered they could not do anything but try to reach out to the seller. They just denied the issue, did not take any responsibility, and just ignored my refund request. Since I have a US bank account, I used my US card and billing address but immediately reached out to the support to get a refund of the price difference. I did not immediately notice that from euros to dollars, there was a difference of more than $60. But this is not the most surprising part! The climax of my customer experience happened when the price (that I was supposed to pay in euros) magically switched in dollars on the invoice. Moreover, there was no option available for installment payments as advertised on their website so the only option was payment upfront with card or Alipay. I made an offer to a seller, which was accepted in EUROS! Once at the checkout page, PayPal was offered as a method of payment but this option was disabled and I could not click on it. Price was displayed in Euros since it's the currency on my account. For those brands that capitalize on this trend, the rewards are numerous.Terrible first (and last) experience on this website. They will continue to do so in the years ahead. To fill their wardrobes in a sustainable way with unique, value-friendly items-consumers are shopping secondhand. The bottom line for brands is that the preowned market is here to stay. According to the BCG-Vestiaire research, 62% of consumers would buy more from fashion brands that partner with secondhand players. Brands should explore such options as selling secondhand themselves, developing their own resale platforms, instituting buy-back programs (making it easy for customers to sell their items), and partnering with existing resale platforms to leverage outside expertise.
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They stand to gain as much as their customers from the new circular economy, but reaping the full benefits requires understanding where the opportunities lie. There are many ways brands can capture value from the growing market.
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Clearly, preowned consumption is a key driver of customer acquisition. In the past year, nearly 50% of preowned shoppers tried a new brand.
To better understand the shoppers of today and tomorrow, brands should take stock of these segments and, just as important, recognize how secondhand consumers may evolve-from occasional shoppers of luxury items, for example, to full-fledged brand loyalists. We’ve looked beyond general preferences to identify six consumer segments representing the variation in participants’ engagement with the secondhand market, including their motivations, the frequency with which they buy or sell items, and their preferred marketplaces. Shoppers hope to own fewer, though better items, to reduce overconsumption, and to take better care of what’s in their closets the presence of a thriving preowned market encourages all three goals. Today, 70% of preowned buyers “like the sustainable aspect” of secondhand consumption, compared with 62% in 2018.
#Vestiaire collective drivers
Developed markets may see even greater gains, and some online resale players could potentially experience 100% year-on-year growth.Īlthough affordability, selection availability, and item uniqueness are key drivers of the secondhand market, consumers’ mounting environmental concerns also contribute to its growth. It suggests that the global secondhand market will likely grow over the next five years by a compound annual growth rate (CAGR) of 15% to 20%. Technology, Media, and TelecommunicationsĪ recent BCG survey of 7,000 individuals from six countries-powered by data from Vestiaire Collective’s consumers-has uncovered deeper insights into the trend.
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