Xin Ou
Research expert covering Greater China
Second-hand e-commerce - statistics & facts
Sustainable living has become a trend in recent years in response to rising global concerns regarding Earth’s climate and the environment. From changing diets to adopting a number of different no-waste tactics, second-hand shopping, and in turn, second-hand e-commerce, has become a major part of how people make their everyday purchases. For conscious shoppers, it allows for ethical consumption, while for others, it may just scratch an itch to own timeless vintage merchandise.
In the United States, online recommerce – inclusive of all categories – is expected to reach over 291 billion U.S. dollars in resale volume by 2029. When it comes to why consumers globally shop second-hand, most users cited saving money as their primary reason to buy more second-hand items. The variety of choices and sustainability were also important drivers for many. However, there are also several hinderances to second-hand shopping. In Europe, Gen Z and Millennial consumers did not want to wear clothing already worn by someone else, were suspicious of the quality of second-hand goods, and even were distrustful of online recommerce platforms.
With so many options for online resale and considering the current supply chain disruptions and production bottlenecks for new products worldwide, the online second-hand market can only thrive in years to come.
Why throw it away?
Fashion and apparel items make up a large portion of what is being re-sold around the world, with the second-hand apparel market on its own expected to reach over 367 billion U.S. dollars globally by 2029. Beyond apparel, however, another category of pre-owned goods in high demand serves the purpose of entertainment. Books, movies, music and games made up the second-most popular second-hand category among shoppers in China and France.In the United States, online recommerce – inclusive of all categories – is expected to reach over 291 billion U.S. dollars in resale volume by 2029. When it comes to why consumers globally shop second-hand, most users cited saving money as their primary reason to buy more second-hand items. The variety of choices and sustainability were also important drivers for many. However, there are also several hinderances to second-hand shopping. In Europe, Gen Z and Millennial consumers did not want to wear clothing already worn by someone else, were suspicious of the quality of second-hand goods, and even were distrustful of online recommerce platforms.
Pre-loved platforms
Several channels are used to facilitate online second-hand shopping, with marketplaces serving as the most popular format due to offered variety and navigational ease. In Western countries, one of the most notable is the U.S.-headquartered eBay, with a global audience of over 130 million active buyers. Chinese consumers most frequently used the Alibaba-owned Xianyu, otherwise known as Idle Fish, for their online second-hand purchases. As for primarily mobile platforms, brands like Vinted, Depop, and Mercari remain popular options for the selling and purchasing of second-hand items, and consistently register millions of downloads globally on their respective mobile apps each year.With so many options for online resale and considering the current supply chain disruptions and production bottlenecks for new products worldwide, the online second-hand market can only thrive in years to come.
