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Highlights:
- £2 Billion in Sales: Second-hand goods sales are projected to exceed £2 billion in the run-up to Christmas, reflecting a growing trend in pre-owned shopping.
- 10% of Christmas Shopping: Pre-owned items are expected to make up 10% of all festive gift purchases, according to Vinted and Retail Economics.
- Cost-of-Living and Sustainability Impact: Rising living costs and increased awareness of sustainable consumption are driving the shift toward second-hand shopping.
Vinted, the online marketplace for pre-owned goods, has reported a significant surge in second-hand shopping this Christmas season. The value of pre-owned goods sold in the lead-up to the festive period is forecast to exceed £2 billion, according to a report by Vinted in collaboration with Retail Economics. This marks a significant milestone in the growing trend toward sustainable and budget-conscious consumer habits.
Second-Hand Shopping Gains Momentum
Pre-owned goods are expected to account for 10% of all Christmas gift shopping this year, with more than four in five shoppers indicating plans to dedicate part of their holiday budget to second-hand items. Alongside this, many consumers plan to sell pre-loved items to fund their purchases, reflecting a broader shift in shopping habits.
Adam Jay, Vinted’s chief executive, noted the pivotal role of economic factors in accelerating the adoption of second-hand shopping. Speaking to Sky News, Jay said: "I'm sure the cost-of-living crisis has been a boost. But I do think this trend was happening anyway because of people's consciousness around overconsumption, around sustainable buying and sustainable consumption.”
Economic Pressures Drive Consumer Choices
The rising cost of living has pushed shoppers to find innovative ways to stretch their budgets. Second-hand marketplaces such as Vinted have provided an accessible and practical solution, enabling consumers to both save money and participate in more sustainable consumption practices.
Retail Economics echoed these sentiments, highlighting that the appeal of second-hand shopping goes beyond financial necessity. Many shoppers are motivated by a desire to reduce waste and make more environmentally friendly purchasing decisions.
Sustainability at the Forefront
The shift toward second-hand shopping aligns with growing awareness around sustainability. Consumers are increasingly conscious of the environmental impact of overconsumption and the benefits of a circular economy. This Christmas, the trend is further evidenced by the rise in re-commerce platforms like Vinted, which facilitate easy buying and selling of pre-loved items.
“Shoppers are more attuned to the benefits of second-hand goods, whether it’s finding unique items, reducing their carbon footprint, or simply stretching their budgets,” Jay added.
A New Era of Festive Spending
The surge in second-hand shopping underscores a broader transformation in consumer behavior. As more people embrace sustainable and budget-friendly options, platforms like Vinted are well-positioned to cater to these evolving preferences.
Looking ahead, the trend suggests a long-term shift in holiday spending habits, where pre-owned goods take center stage in gift-giving traditions. This change not only highlights the resilience of consumers during challenging economic times but also points to a growing commitment to sustainability in everyday decisions.
