As the UK approaches a year since the first national lockdown , new data from eBay’s Global E-Commerce Report shows that two-thirds ( 67%) of UK sellers said they started selling second-hand items last year to make extra cash during the coronavirus pandemic.
Figures show that the average UK household has 31 items worth more than £800 sitting around the house, with people trying to make the most of this untapped economic opportunity over the past year.
The Global E-commerce Report of eBay C2C sellers shows their attitudes and behaviors towards e-commerce – the resale of second-hand goods. The results show that China’s e-commerce market is booming, with both supply and demand seeing significant growth.
While some have used the opportunity to explore new pursuits during lockdown, selling and buying second-hand items have proven to be a top choice for many, including second-hand fashion, upcycled homewares and refurbished electronics.
The UK is leading the growth in the e-commerce market, with 62% saying they are selling more second-hand items now than 1-5 years ago, the highest of all markets surveyed. The report also shows that sustainability is becoming increasingly important as a consideration in the buying and selling of second-hand products. 32% of UK sellers say that positive environmental impact is a top two reason for selling second-hand items.
With many facing higher financial stress due to lockdown, 81% of UK C2C sellers said they buy second-hand goods themselves, ahead of other markets including the US (80%), Germany (79%) and France (69%), indicating that the trend towards buying recycled products is not only among shoppers but also sellers. This also reflects the trend towards a more circular economy, extending the life cycle of people's favorite items. The report shows that Generation Z plays a leading role in this area, with 81% of young people aged 16-24 buying second-hand goods more frequently in the past year.
“The growing e-commerce market not only creates economic opportunities for sellers and helps customers shop more frugally, but it’s also great to see the development of a circular economy as our sellers promote more sustainable shopping habits,” said Emma Grant, head of eBay UK . “E-commerce has always been at the heart of eBay and it’s important for us to support the transition to a more sustainable society, while ensuring both buyers and sellers benefit from the opportunities we see.” E-commerce platform eBay Platform Cross-border e-commerce market |
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