Data from the new eBay global Re-commerce Report shows two-thirds (67 per cent) of UK sellers started selling pre-owned goods last year to earn extra cash during the coronavirus pandemic. The data found the average UK household has on an average 31 items lying around the house that could be worth over £800, with people in 2020 trying to make the most of this untapped economic opportunity.
The findings of eBay consumer-to-consumer (C2C) sellers illustrate attitudes and behaviours towards re-commerce–the reselling of pre-owned goods. It reveals that the re-commerce market is booming, experiencing both a big surge in supply and demand.The new eBay global Re-commerce Report shows two-thirds of UK sellers started selling pre-owned goods last year to earn extra cash during the pandemic. The data found the average UK household has on an average 31 items lying around the house that could be worth over £800, with people in 2020 trying to make the most of this untapped economic opportunity.#
While some people took the opportunity to explore new pursuits during lockdown, selling and buying pre-owned goods has proved to be one of the outlets many turned to—including everything from second-hand fashion to upcycled homeware and refurbished electronics.
Brits are leading the way in the growth of the re-commerce market, with 62 per cent saying they sell more pre-owned goods now compared to one to five years ago—the highest across all markets surveyed.
The report also demonstrates the growing importance of sustainability as a consideration in the buying and selling of second-hand products, with 32 per cent of UK sellers saying the positive environmental impact is in their top two reasons for selling pre-owned items.
With many facing heightened financial pressures in lockdown, 81 per cent of UK C2C sellers said they also bought pre-owned goods themselves, leading other markets including US (80 per cent), Germany (79 per cent) and France (69 per cent), revealing that the trend for purchasing recycled products isn’t only being seen among shoppers, but by sellers alike.
This reflects the trend towards a more circular economy, extending the life cycle of pre-loved goods. According to the report, Gen-Z is the generation playing the leading role in this space, with 81 per cent of 16-24 year olds buying pre-owned more regularly in the last year.
eBay has also partnered with renowned creator and stylist, Bay Garnett, and are also sponsoring the second season of her popular podcast This Old Thing.
ALCHEMPro News Desk (DS)
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