Marketplaces for second-hand goods are growing twenty times faster than the overall retail market. The combination of low prices and sustainability is proving to be a huge success, in which eBay remains the largest by far.
Inflation ups the game
“ReCommerce”, or consumer-to-consumer sales of second-hand, refurbished and reused items on online marketplaces, currently represents 75 billion euros in sales in the European Union this year, or a tenth of the total e-commerce market. It is expected to grow by 60 % to 120 billion euros in the next three years, however, reaching 14 % of total online sales. 93 % of consumers say high inflation affects their decision to buy and sell second-hand items.
