Cost-of-living crisis causing surge in second-hand shopping, according to Ebay
A new report by Ebay Ads UK has found that the ongoing cost-of-living crisis has been driving significant changes in consumer behaviour, causing a shift towards circular shopping habits like the purchasing of second-hand goods.
The region’s rising cost of living has seen energy bills, fuel and food prices climb, which Ebay said is causing UK consumers to turn to second-hand shopping and upcycling as a response.
“Between the rising cost-of-living and a growing desire to make more sustainable purchases, UK consumers are increasingly thinking about how they can be savvy with their shopping,” said Ebay Ads global GM, Elisabeth Rommel, in a release.
Rommel continued: “With upcycling, buying second-hand, and more sustainably sourced products all rising on shoppers’ agendas, retailers in turn need to be adapting to these evolving preferences in order to engage their customers and contribute to the circular economy.
“Whether it be offering a repair service, starting a second-hand shop, or making packing and materials more sustainable - retailers must tap into what really matters to consumers today, and communicate sustainability credentials clearly in their marketing and product information.”
The marketplace’s report, which surveyed 1,000 UK respondents, found that 30 percent of consumers are having to make more considered purchases to get better value for their money, with a fifth buying more second-hand items in order to save.
Additionally, 25 percent of respondents said they were trying to upcycle or repair their belongings before buying new ones, while 20 percent said they were frequent buyers of second-hand, upcycled or refurbished items.
Sustainability also played an important role for respondents, with 19 percent saying shopping as sustainable as possible was important to them and 22 percent stating that they were conscious of discarding and sending items to landfill that could be repaired or sold on. A further 19 percent said they were trying to avoid fast fashion brands or ones they considered unethical.