Consumer demand for refurbished and pre-owned goods in Britain and across Europe has created a billion pound (US $ 1.3 billion) business for Amazon, its UK boss said.
Many merchants and manufacturers expect that tendency to continue as consumers seek to save money and buy more sustainably in response to rising pricing and borrowing expenses.
According to John Boumphrey, Amazon’s UK Country Manager, the online retail giant sold more than 4 million used or refurbished products at a discount in the UK alone last year.
Amazon’s sales of used products in the United Kingdom climbed by more than 15 per cent in the first nine months of 2023, he noted. Amazon UK’s overall revenue in 2022 is expected to be £ 24 billion.
“Customers are telling us that they’re shopping second-hand items to save money in the ongoing cost of living crisis and because they want to shop more sustainably,” Boumphrey told reporters. He was speaking at the launch of Amazon UK’s ‘Second Chance Store’ – a Christmas pop-up shop in London selling returned and refurbished items.
