Recommerce refers to the practice of selling used items on online marketplaces.
Amidst a challenging global landscape, consumers are reassessing their priorities and embracing the concept of ‘recommerce’ – buying and selling preloved items.
A recent report highlights this growing trend and its impact on consumer habits and the environment.
Consumer priorities and recommerce
The recent survey reveals that nearly two-thirds of respondents are reevaluating what is important in their lives.
Despite the ongoing socioeconomic and environmental challenges, 88% of consumers report feeling optimistic about aspects of their lives, particularly hobbies, personal relationships, and their sense of identity.
This renewed focus has spurred a significant shift towards recommerce.
The appeal of preloved goods
Recommerce is gaining popularity for its financial and environmental benefits.
The survey shows that 86% of consumers have engaged in recommerce in the past year, with a notable preference for preloved items over new ones.
Millennials and Gen Z are leading this trend, with 71% of 25-34-year-olds having purchased preloved goods recently.
Additionally, 64% of respondents believe that shopping secondhand contributes positively to the planet’s health.
Economic and environmental benefits
The recommerce trend not only supports sustainable consumption but also offers economic opportunities.
Many sellers on platforms such as eBay report increased activity in the pre-loved market, with 64% stating it has become easier to sell secondhand items in recent years.
This shift is driven by the desire to earn extra income and reduce waste.
Consumers also cite environmental concerns as a key motivator, with 67% expressing worry about the planet’s health and 63% prioritising sustainability in their purchasing decisions.
Future of recommerce
As recommerce continues to grow, it is clear that this shift is driven by a combination of financial necessity, environmental consciousness, and a desire for meaningful consumption.
The trend reflects a broader movement towards sustainable living and economic resilience, with platforms such as eBay playing a pivotal role in facilitating this change.
By choosing preloved goods, consumers are not only saving money but also contributing to a more sustainable future.
Source from Retail Insight Network
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