eBay Confirms a New Trend – Secondhand Shopping – And Gives It a Chance To Do Even More

Nearly 59% of global consumers bought second-hand items last year, and more than 70% plan to do so this year. This trend is particularly strong among younger consumers aged 18-24, with up to 65% of 18-24 year olds having bought secondhand items in the past year. The engagement of this demographic points to a significant market opportunity for e-commerce businesses targeting younger audiences.

According to the report, nearly half of global consumers believe that buying used items will be a major trend in 2024, as evidenced by the growing interest in items labelled as thrift. Sales in March 2024 increased by more than 400% compared to March 2023.

“Global consumers are most likely to buy clothing (48%), books (34%), shoes (24%), home and garden items (23%) and finally technology/electronics (22%). Interestingly, a third of visitors look for collectibles when shopping on eBay”.

The motivations for buying second-hand items are varied. Almost half of consumers buy products on sale to save money. They may then focus their spending elsewhere or find specific items that are no longer available. Sustainability also plays a key role, with more than half of shoppers considering it very important. Up to 94% consider it at least somewhat important and 76% agree that sustainability is becoming more important to them.

Source: Ebay

The pandemic has had a significant impact on shopping behaviour, with more than half of respondents shifting their purchases online. By understanding these insights and adapting their strategies, marketers and other e-commerce professionals can take advantage of the growing recommerce trend to improve their businesses and meet changing consumer demand.