Surviving the Luxury Handbag Market CRASH of 2024...

Music Credit- dans le parc

Credit to my animation

mentioned
@QrewTV
@SuperDacob

[AreYouKittenMeRtNow]

So much of this is psychology! I’ll definitely admit that once I got my first Birkin I was like… oh. Ok. I mean, it’s nice. I love it. But… it didn’t like change my life lol. Same thing goes for a lot of items that are really hyped.

[camiq]

IMO entering luxury bags is more difficult for gen Z. Most top tier brands have no entry level bags in boutique around $1-1.5k. In 2019 you could get a bag from most brands (with exception to Chanel and Hermes).

With prices of today its a real upfront investment. The prices are peoples rent and more for the month.

Saving for a first luxury bag (which many of us did for our first purchase) takes so much longer at todays prices.
I dont think its a coincidence that we see genz on social media with supermarket hauls, cotton tote bags going viral, and non-luxury brands.

Paying for a trip in some cases is significantly cheaper than a bag. And when it comes to experience vs luxury item, many choose experience.

Mid-Tier brands however are having a moment IMO. The price point is easier to afford than top tier, the styles are trendy and timeless, leather is still an option, and you can still get a nice boutique experience or buy online depending on brand.

I think mid-tier will continue to have a moment until economy improves.

[MakeupAgain]

I think the trend is that Gen Z is rebelling against the whole luxury mostly because they cannot afford it. I keep seeing reports about how the job market in the US is abysmal. Also, what I find of interesting is that Gen Z are more into traveling than purchasing items. Even the ones who max out their credit cards, they prefer to travel.

Luxury will never go out of style for those who can afford it without a thought.

I do agree that the ubiquity of certain brands is also lessening the excitement of being one of the rare few to have either the bag or sneaker. I honestly don’t care if something is everywhere, if I like it, I get it.

I will always watch your channel as it brings me joy 🌸

[missmaryblack]

I've loved handbags for over 35 years and have been buying all throughout that time. What happened to prices over the last 5 years, seems to be a once in a lifetime phenomenon with the pandemic. I've never seen that kind of price spike before so I don't know how things will settle down from it, or if it will. I think you might be onto something though, comparing it to the sneaker market, especially given how much production has increased from the luxury houses. Another great, thought provoking vid.

[LadeeHaha]

Jess, people are making returns at Chanel like I never seen or heard before! I was offered a nano kelly at the boutique that was a return according to my SA. The client bought 2 and returned both within the 14 days for a money refund. I was offered both by my SA. Then at another boutique offered me a unique flap that was initially offered to me but I didn't get the message in time, so it was bought by another client and later returned and I was offered it again!

[andymadrid]

Best time to buy is when no one else is buying. Usually means you will get a deal. It's called demand.

[suzanneallison]

How exclusive are any of those bags, really? Between Vintage stores, here and abroad, Farfetch, The Real Real, Fashion File, Italist, Luxury Promise, etc there are thousands and thousands of luxury handbags for sale. Hermes for one. Why would anyone play the "game" to hopefully be "offered" a bag. You have to create a relationship with an SA to get a quota bag. Imagine begging for a store to take your money. Anyone can walk into a pre-loved store and buy one. None of the luxury bags are exclusive any more, in my opinion and still way overpriced.

[gisy]

I think you might be right about the fact that luxury is not as popular or relevant as two or three years ago. There are many factors to consider such as the price increases, the cost of living, inflation, the overexposure of luxury, the hateful rhetoric towards luxury enthusiast and the new generation who wants to stop consuming and focus on experiences.

The resale market is not as strong at the moment, the price is going down and it will continue to go downhill. The birkin baits has risen to 3-1 to 4-1 ratio, people are selling their bags because they are not even getting offer the specification that they originally wanted, this is the first time in years that I’ve seen so many birkin, Kelly and even Constance price is going down in the second hand market.

The demand for any luxury bags will continue to slow down and we will see it better next year. Thanks Jess you’re an amazing YouTuber 😊 keep going we’ll continue to watch you

[linmeathome]

When a new bag cost almost a new car I'd really give it a second thought

[MariaRodriguez-dxsm]

One of the biggest reasons why people started to buy luxury was because they were looking for quality and better treatment for the workers. Luxury brands sold the idea that their bags were made by French/Italian grannies and granpas with 30 years of experience and generations in the business that were compensated fairly. It turns out they were Chinese slave labor in horrific conditions.

It doesn't the quality went down hill, to the point that super fakes are not only indistinguishable, but sometimes better than the real ones. There are some hilarious stories about costumes detaining what they thought were counterfeit merchandise because of their terrible quality just to find out they were real

[deborahcurtis]

Unfortunately sneakers disintegrate over time, the glue comes unstuck and the foam and soles just fall apart. The product is largely synthetic and assuming they will age well is a gamble you take.

[baronessboomer]

I don't really give a fig about expensive designer handbags. I watch you because I like you & you make me smile. 💜

[jeantierney]

That was an interesting Vlog and tbh I completely agree with you. I love bags, I always will, but it’s not the be all and end all! For a good couple of years I lusted after a Chanel 19 in the small size in black and gold. I finally got it when I took a trip from the UK out to NY and I got my dream bag. Fast forward a year and a half and it’s hardly getting used. I think the prices are absolutely ludicrous and Chanel price increases have been shocking! I prefer a holiday now rather than spending insane money on bags and please never think they’re investments. I’ve lost so much cash through the years it’s insane!!

[Nataly-]

I always thought Jordan’s were stupid lol 🥴 maybe it is just the end of a very long era. Bags are forever lol 😂

[kerriedunn]

I get more joy from my unusual vintage finds - beautifully made in stunning leathers- usually thrifted, than the idea of spending thousands on a bag that everyone seems to own. Nice to wear something that no one else is wearing.

[jamesl]

I hope you always keep that same intro and outro music...there is something so satisfying about it lol

[LuxLover_Karolina]

Hi Jessie great video! I recently started my YouTube channel and have to say I noticed a trend where my videos on more of the contemporary brands and affordable bags such as Coach and Polene have gotten more views than my videos on my designer bags. Granted I don’t have the trending luxury bags I tend to buy the bags that are no longer popular because I do genuinely love those styles so I noticed those don’t get as many views. But I completely agree that I think people are more focused on putting their money elsewhere other than material things. Tfs ❤️

[mylesmiller]

I think you’re right and some of this is already happening. My one small example happened recently at Hermes. I was traveling and not at my normal boutique. I ended up buying a birthday gift for my mother, a cute hat (she loves hats and I’ve purchased Hermes hats for her before) anyway the sales associate out of nowhere started asking me were there any bags I was interested in today and kept asking me “what about an Evelyn bag.”
Previously this had never been my experience, not in my home boutique, or on my travels to other boutiques. I’d never experienced them pushing bags and why Evelyn so hard. I know an Evelyn is not a B or K, but I’m sure if I had been willing to play along a bit more I could have scored something cool. My point is, maybe things are already starting to change and shift toward more availability. Something to think about.

[kaicruz]

For me personally, even if I am very much interested in potentially buying Hermes Birkin in the future, I am just not completely convinced at the moment. First because of the hype and secondly because the attitudes of the SAs turn me off. And I’ve experienced being made to feel like dirt at Hermes. I am someone that thoroughly enjoys the boutique experience and I’ve only ever had wonderful experiences at Louis Vuitton, Dior, and Chanel in many stores all over the world, the Paris flagship stores in particular the staff and SAs are delightful! And in my local stores, the experience has been pretty good experiences as well.

I think when the Hermes hype dies down, the SAs there will finally get humbled (hopefully) and will make a little bit more effort in being nice not just to selected clients/selected demographics . And then only then will I probably start my Hermes journey 😅

[carrino]

In Oslo capital of Norway the stabbing from youth gangs is happening so often that going with luxury is taking a huge risk with your life. It is very sad to see and hear about the increased crime.