Resumo

The concerns with sustainability are changing the perception of new generations of consumers towards the fashion industry, and the second-hand market is flourishing in this new context (Gazzola et al.,2020). In response to these challenges, new business models are emerging. This market is growing four times faster compared to the primary luxury fashion market (Aycock et al., 2021), There is an emerging opportunity for luxury brands to embrace and recognize the status of second-hand sellers, providing them with an exclusive shopping experience (Turunen et al.,2020).

The main purpose of this study is to explore the new paradigm of second-hand luxury fashion and gain knowledge on the purchase motivations of Generation Z and Millennials. Thus, the main research question is: RQ: What are the main motivations that drive younger consumers (Generation Z and Millennials) to purchase second-hand luxury fashion items?

As the second-hand market is growing worldwide, conventional luxury consumption is likely to evolve based on planned and unplanned reselling (Turunen et al., 2020). Indeed, there is a paradigm shift in the luxury fashion industry. According to the literature, there are several drivers for the purchase of second-hand luxury fashion. Therefore, previous studies have identified economic reasons, need for uniqueness, eco-consciousness, status, investment, e-commerce accessibility, perceived emotional value, perceived product quality, word of mouth, as some of the motivations

For this research, we applied the qualitative research methodology to explore the motivations behind second-hand luxury fashion consumption among Generation Z and Millennials. A total of fifteen semi-structured interviews were conducted. For the in-depth interviews, 2 convenience samples of CEOs and consumers were chosen. The first sample consists of (1) CEOs of second-hand luxury fashion companies worldwide; and (2) CEOs of key luxury resale stores in Portugal.). The second sample consists of active consumers among Generation Z and Millennials.

The content analysis of interviews was guided by a predefined set of categories identified in the literature review. The analysis of data is presented below in the respective categories: consumer behavior changes, drivers of second-hand luxury fashion consumption, sustainability, and key challenges in the industry.

The study revealed that perceived value emerged as a key motivation for consumers. The ability to acquire luxury items at a lower price point compared to their original retail price appeals to individuals to make worthy choices. The desire for exclusivity and status also plays a significant role in motivating consumers to buy second-hand luxury items, which aligns with the literature review. Although the literature suggests sustainability (eco-consciousness) as motivation, most CEOs and active consumers revealed that it was not relevant for purchasing second-hand luxury fashion items.

Arribas-Ibar, M., Nylund, P. A., & Brem, A. (2022). Circular business models in the luxury fashion industry: Toward an ecosystemic dominant design? Current Opinion in Green and Sustainable Chemistry, 37. Aycock, M., Cho, E., Smith, K. R., & Woods, L. (2021). Understanding online second-hand luxury fashion shopping motivations and perceived value among young adult consumers. International Textile and Apparel Association, 1–4. Bae, Y., Choi, J., Gantumur, M., & Kim, N. (2022). Technology-based strategies for online secondhand platforms promoting sustainable retailing. Sustainability , 14(6).