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1stDibs Reveals Luxury E-commerce Report for 2024

1. 1stDibs launched its Luxury E-Commerce Report highlighting consumer trends. 2. Orders for Bottega Veneta and Hermès handbags surged 76% and 57% respectively. 3. Art sales of blue-chip artists like Salvador Dalí and Picasso remained strong. 4. Mid-century Modern furniture searches rose significantly, indicating changing consumer interests. 5. Impressionist art is regaining popularity, appealing to high-powered collectors.

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Why Bullish?

The report indicates strong consumer demand in luxury markets, which could drive sales for DIBS.

How important is it?

The findings can directly influence DIBS' marketing strategies and consumer engagement.

Why Long Term?

Sustained growth trends in luxury e-commerce suggest long-lasting positive effects on DIBS's market presence.

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DIBS
NEW YORK--(BUSINESS WIRE)--1stDibs, the leading marketplace for extraordinary design, has unveiled its Luxury E-Commerce Report. Leveraging 2024 data and analytics from its entire platform, the report delves into the changing tastes and trends of 1stDibs’ consumer base across its most prominent luxury verticals: art, furniture & lighting, jewelry, fashion, and handbags. As the audience for iconic designers, renowned artists, and timeless design has grown, 1stDibs has expanded its inventory to cater to the growing market while enhancing how these trends are tracked. Key findings across all verticals from the report include: Mid-century Modern rose 18 positions year-over-year as a search term in Furniture The Togo chair by Michel Ducaroy ascended 62 positions year-over-year in Chair searches Lighting’s top sale was a Taito Brass Ceiling Light by Paavo Tynell from the 1950s List Price: $242,922 John Galliano’s newsprint dress for Christian Dior, as seen in Sex and The City, stands as one of 1stDibs’ most viewed fashion listing with more than 200,000 views to date Jewelry’s top sale for the year was a 7-Carat Cushion-Cut Diamond Ring, listed at $1,000,000 Orders for Bottega Veneta handbags grew by 76% year-over-year, while orders for Hermès handbags grew by 57% year-over-year Please find a link to the full Luxury E-Commerce Report here, with highlight trends below: Furniture & Lighting Early-to-mid-20th-century styles and creators were the frontrunners among all furniture and lighting trends, with an emphasis on modern pieces from the Art Deco and mid-century modern periods. Designers such as Charles and Ray Eames, Gio Ponti and George Nakashima proved most popular among 1stDibs shoppers. Meanwhile, the Art Deco period rose 10 positions year-over-year as a search term in Chairs and ranked 13th in overall Furniture searches. The rise in popularity indicates that the luxe, glamour and exuberance of the Art Deco period is in sync with current tastes for furniture and art that add visual interest to a room and have interesting backstories. Art The top-selling artists on 1stDibs for 2024 were virtually all blue-chip creators, like Salvador Dalí and Pablo Picasso, and their works proved worthy investments. Although contemporary and modern styles maintained their top-selling spots, Impressionism experienced a recent uptrend, rising two positions, to third place. “Until just a decade or so ago, when the contemporary art market soared, Impressionist works by the movement’s masters were considered the bluest of blue-chip art. One hundred fifty years after the founding of Impressionism, high-powered collectors and avid art lovers of lesser means are once again entranced by the brilliance and exuberance that characterizes these game-changing creations.” Anthony Brazilay Freund, Editorial Director, 1stDibs. Fashion & Handbags As a destination for rare and highly coveted pieces of fashion history, 1stDibs has seen a rise in popularity among iconic vintage pieces, particularly those from the top fashion houses of the 1990s and 2000s. The 1997 fur Chubby by Tom Ford for Gucci was the site’s top fashion sale for 2024. Meanwhile, John Galliano’s newsprint dress for Christian Dior is 1stDibs’ most-viewed item, with more than 200,000 views to date. 1stDibs shoppers turned to the platform for its remarkable array of both highly collectible and everyday designer handbags. Orders for Bottega Veneta grew 76% year-over-year, most notably for styles, like the Kalimero and the Andiamo, that are associated with creative director Matthieu Blazy, whose tenure ended in 2024. Meanwhile, Hermès continued to outperform other luxury brands across the site, taking first place as top-selling handbag brand, with orders growing by 57% year-over-year. Social media’s popular Unexpected Red Theory, which posits that adding a red accent enhances a room’s aesthetic and provides a dopamine hit, perhaps applies to fashion as well. It could account for burgundy’s first-place ranking among Fall/Winter 2024 colors, and for orders of red handbags growing 75% year-over-year. Watches & Jewelry Heritage jewelry brands continue to reign supreme, with venerable American and European houses ranking highest in terms of sales. In the jewelry category, Tiffany & Co., Cartier and Van Cleef & Arpels held top positions in sales. Tiffany & Co. was in first place, with orders growing by 41%, while Elsa Peretti’s creations for the storied house shot up eight positions year-over-year. The top-selling stones across the platform largely remained the same, with the exception of opals. Orders grew 32% year-over-year for the iridescent gem, which moved up four positions to rank as one of the top five stones for 2024. In both searches and sales, heritage watch brands offering legacy classics and impeccable workmanship were standouts in their category. Rolex, with its consistent classic design and modern appeal, was responsible for three of the five top-selling watch styles. NOTES TO EDITORS ABOUT 1STDIBS ​1stDibs is a leading online marketplace that connects design lovers with highly coveted sellers and makers of vintage, antique and contemporary furniture, home decor, art, fine jewelry, watches, and fashion.

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