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Recommerce Grows In Sales Numbers And Popularity Among Consumers

The word recommerce is being thrown around more and more. It refers to the sale of consumer goods that someone already owns - these can be used, but also second-hand or unwrapped products.

Recommerce Grows In Sales Numbers And Popularity Among Consumers
Source: Depositphotos

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.

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