Luxury Brands Face Shortening Wait Lists

Luxury brands like Hermès and Rolex have long had wait lists for their products because they make fewer items than people want.

This makes their products very valuable and expensive.

Recently, the wait lists are getting shorter, and the prices for used items are not as high as they used to be.

This is happening because more people are selling their luxury items, and the brands are raising their prices too much.

For brands like Hermès, this is a problem because they rely on people buying other expensive items to get a wait-listed product.

However, having wait lists can be good for brands because it smooths out sales during good and bad economic times.

It also acts as free advertising because people see that these brands hold their value.

But it's hard for other brands to copy this strategy because they need to convince customers that their products are truly scarce.