Recommerce Grows In Sales Numbers And Popularity Among Consumers

The word “recommerce” also includes the repair, renovation, refurbishment or rental of consumer goods. It is estimated to be worth €120 billion by 2025. Major players such as Amazon have also jumped on the second-hand bandwagon, and it is paying off – they made billions in sales last year.

According to a study by Cross-Border Commerce Europe in partnership with FedEx Express and Poste Italiane, recommerce is set to take off. In 2022/23, the European recommerce market was worth €94 billion. It currently represents 12.3% of the total European e-commerce market. It is expected to reach 14% in the next three years.

Source: Cbcommerce.eu

The public likes Second-Hand products

The survey shows that up to 85% of shoppers have bought or sold secondhand goods in the last year, with 27% doing so for the first time. Up to 75% of recommerce transactions are in non-clothing categories. These include electronics, furniture, household and sporting goods, books, outdoor equipment and cars. 76% of shoppers feel that the stigma associated with buying second-hand has decreased. Conversely, 41% of respondents say that buying used goods is now a status symbol.

In a recent survey of the UK market, it was found that both environmental and economic reasons favour increased sales of Second-Hand goods. More than half (55%) of shoppers admitted to buying used goods because of the lower price. Only 8% cited sustainability as a reason for buying.