A recent study commissioned by Amazon projects that the European online market for used goods would expand by US $ 2.33 billion in 2025.
Customers in Germany, France, the UK, Italy, and Spain saved an estimated US $ 43.91 billion over the previous five years by purchasing non-new products, according to data from business management expert CEBR. The market is currently valued at US $ 25.16 billion.
The results showed that the commercial market for used goods was expanding due to factors like the demands of living expenses, the advantages of keeping products in use for the environment, and the ease of purchasing used goods online.
85% of those under 34 in all five nations purchased second-hand goods online, while 52% of those over 55 did the same.
The survey cautioned that retailers must overcome obstacles like worries about product condition and the appearance of lack of guarantees, even if Europe’s second chance economy is expected to reach more than US $ 27.73 billion in 2025.
According to reports in April, Vinted, an online marketplace, tripled its revenues as a result of consumers’ increasing need for reasonably priced pre-owned goods. As sales rose 36% to US $ 947.24 million in 2024, the company reported a net profit of US $ 89.32 million, up from US $ 20.73 million the year before.
Mariangela Marseglia, Vice President of Amazon’s EU Stores, noted that customers are increasingly looking for second-hand items across a wide variety of categories, including technology, fashion, and home appliances. She shared that in 2024, sales of second-hand products on Amazon surpassed US $ 2.33 billion across Europe and the UK.
