Skip to content

The sale is underway!

SHOP HERE

Cart

Your cart is empty

Article: Inflation of Luxury Goods

Inflation of Luxury Goods

Inflation of Luxury Goods

You might have heard the word inflation floating around the news, and the fashion industry lately. Inflation is an economic term defined as the price of goods and services increasing while the purchasing power of money is falling—basically, things are getting more expensive! And the fashion industry, specifically luxury goods, are taking a hit.

How does inflation affect the fashion industry? 

You might have seen inflation occurring in fashion through the surge in prices for designer and luxury goods. Items that you have had your eye on for the last few months might be getting increasingly more expensive. The continuously increasing retail prices on designer goods is due to general production costs surging. This surge is in response to inflation in raw materials, manufacturing processes and increased transportation costs (like the cost of gas).

Black Quilted Chanel Bag

 Brands such as Louis Vuitton and Chanel have seen a continual increase in the price of their classic bags every few months. Chanel specifically has increased their luxury handbag prices four times over the last two years. With French powerhouses like Louis Vuitton and Chanel hosting expert artisanal skill sets to effortlessly craft perfect goods, their production lines are undergoing increased demands and consequently, their prices are going up.

The days of finding a pre-owned Chanel bag on the secondary market for less than retail price, regardless of condition, appear to be numbered. Chanel bags are recognized for having high resale prices, and the good news is, this isn't going to change anytime soon.

Wait... why is this good? The pressure of inflation could hurt your favourite luxury houses, causing a slow for luxury stores as more and more people turn to cheaper or more affordable options such as consignment shops. So now is a better time than ever to consign with So Over It in order to ensure your bag gets the biggest buck!

Leave a comment

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

All comments are moderated before being published.

Read more

10 ways to Upcycle your Dust Bag

10 ways to Upcycle your Dust Bag

You know by now that at So Over It we love to give pre-loved items a new life. If you've bought some designer pieces lately and have some dust bags lying around, we have 10 ways to extend their lif...

Read more
Our Favourite TV Fashion Shows

Our Favourite TV Fashion Shows

Over the last two years we binged, watched, and re-watched our favourite tv shows with fervour. Seeing our loved characters and what they’re wearing every episode has inspired us to share with you ...

Read more