Sales of used goods increased by 30% on eBay between March and June 2020, according to the Guardian.
As younger demographics were looking for sustainable, affordable and creative ways to shop, the online second-hand market was growing even before the pandemic. The pandemic-influenced lockdowns and economic downturn further fuelled this growth of online pre-owned goods.
Along with financial constraints, concerns about the environment and mass-consumerism act as further motivation to buy and sell used products. A Piper Sandler survey found around 46% of teenagers from upper-income households have purchased second-hand clothes, while 58% have sold used clothes.
With lockdowns forcing retail stores to shut down, even charity shops, vintage boutiques and thrift stores are exploring online channels to push sales. As established brands like Levi’s create resale ecommerce stores with a purpose to curb down the carbon footprint, pre-owned goods market is poised to grow.
[5 minute read]