Demand for pre-owned fashion is robust and on the rise, as highlighted in eBay’s recently published fourth annual ‘Recommerce Report’.
Released to coincide with the company’s first ‘Recommerce Day,’ aimed at increasing awareness and interest in re-commerce, the report reveals that pre-owned and refurbished items now constitute 40 per cent of eBay’s global gross merchandise volume (GMV), with the UK market leading this trend.
The report indicates that while 59 per cent of global consumers purchased pre-owned goods in the past year, over 70 per cent plan to do so this year. Notably, 65 per cent of consumers aged 18-24 reported buying pre-owned items in the last 12 months.
Additionally, nearly half of the surveyed consumers consider shopping for pre-owned items trendy for 2024. The number of clothing, shoes, and accessories sold with the term “thrifted” in their description increased by over 400 per cent in March 2024 compared to March 2023.
More than two-thirds (64 per cent) of respondents noted that buying pre-owned goods has grown more important to them recently, and 81 per cent agreed that purchasing pre-owned products has become more common.
In the UK market, 47 per cent of pre-owned purchases were apparel items. An impressive 85 per cent of UK respondents reported buying pre-owned goods in the past 12 months, surpassing the global average.
Nearly half (45 per cent) of respondents buy pre-owned goods to save money, enabling them to allocate funds to other priorities or find specific items not available new. Over half (51 per cent) cited sustainability as a significant factor in their decision to buy pre-owned, with 94 per cent considering it very important or somewhat important.
Furthermore, 76 per cent of respondents believe sustainability is increasingly crucial each year, and 52 per cent reported that the pandemic has led them to increase their online purchases.
