Strong development for second-hand online sector in 2022
In order to give a picture of the growth and role of the second-hand share in e-commerce, the E-barometer has started following the second-hand market in 2022.
Used has been a trend for several years, but given the economic situation, it is becoming more and more interesting to examine how the market develops because price is the factor that attracts most consumers to the used players.
With increasingly tough external factors to deal with, there is reason to believe that 2023 will be a booming year for the used trade. That second-hand goods are increasing in popularity is illustrated, for example, by the second-hand operator Erikshjälpen breaking sales records month after month and by the fact that Tradera's Christmas sales increased by 24 percent between 2021 and 2022.
In terms of which product categories are bought, it is furniture and home furnishings as well as clothes and shoes that top the list.
During the year, however, it has emerged that men and women demand different types of used goods. Men buy to a greater extent home electronics and vehicles and vehicle parts, while women buy furniture and clothes. 13 percent and 9 percent, respectively, of recent purchases fell under the "other" category, which includes odd items such as specific hobby items or collectibles. Today, it is possible to buy almost any second-hand item, and it is particularly easy to search and make second-hand finds online. In the E-barometer's consumer interviews during the year, the search has been highlighted as what makes the e-commerce format so favorable for the second-hand trade. In a physical second hand store it is difficult to know if exactly what you are looking for will be available, but online you can search for whatever you are looking for.
A third buy more used items in tough times
The percentage of consumers who shop second-hand is still relatively stable, but the prevailing economic situation is beginning to make an impression on the accustomed e-commerce consumer. A third of them state that they shop more used now than before for financial reasons.
Younger consumers in particular are attracted to buying used items. 4 out of 10 in the 18 to 29 age group have bought more used items in the last quarter because of the current economic situation. Older consumers report to a lesser extent than younger consumers that they have turned to the second-hand market because times are tough. This is natural as older consumers generally have more purchasing power than younger ones and therefore not attracted to the used market to the same extent.
To meet the increased demand for second-hand goods, more and more actors are breaking new ground by innovating the second-hand market. Companies like Vinted invest in making the sales process between private individuals more flexible and friction-free. Other actors, such as Arkivet, invest in making the second-hand market a more glamorous experience, with open and bright premises and carefully curated content. The interest in second-hand trade as a more exclusive and flexible experience is clear – Arkivet has almost doubled its turnover since 2018.
Source: The E-barometern 2022