- Over a third (36%) of Brits embrace pre-loved treasures: Second-hand shopping is on the rise, with consumers increasing pre-owned, refurbished, or second-hand purchases since last year.
- The cost-of-living crisis fuels the shift: With 70% of shoppers motivated by lower costs, recommerce offers a savvy solution in today’s economic climate.
- London leads the charge: A staggering 88% of Londoners participate in recommerce, driven by the desire for affordable, high-quality items.
London, UK – The British high street is in an uncertain state, with one in seven shops currently empty and footfall at an all-time low. Amidst rising consumer confidence and government change, Brits are still feeling the cost-of-living crisis and continuing to tighten their purses, seeking cheaper alternatives to high-street prices.
A new survey by ShipStation reveals a recommerce revolution sweeping the nation that is worth £7 billion, according to Barclay’s Bank. Over a third of UK consumers are embracing second-hand shopping with Gen Z and Millennials leading the charge. This shift in consumer behaviour is driven by the desire for affordability, quality, and unique finds, proving that recommerce is more than a passing trend.
Brits are Looking for a Good Bargain
As the cost-of-living crisis continues to impact spending habits, Brits are increasingly seeking out bargains and alternative ways to shop. Recommerce offers a solution, allowing consumers to access high-quality items at a fraction of the price. ShipStation’s survey highlights the growing appeal of pre-owned goods, with lower costs (70%) and the desire for higher quality at a lower price (37%) being the primary motivators. Even though it is not a top priority, over a quarter (27%) of Brits admit to buying second-hand due to environmental concerns.
London: The Epicentre of Recommerce
London stands out as a hub for second-hand shopping, with 88% of Londoners embracing recommerce, compared to 83% across the rest of the country. This trend is fuelled by the city’s high cost of living, with 72% of Londoners citing lower costs as their main motivation.
“Recommerce is changing the way we shop, and it’s not going anywhere,” says Matthew Trattles, Vice President of SMB at Auctane, ShipStation’s operating brand. “Interest in recommerce is growing rapidly, driven by consumers’ increasing desire for cost savings. This movement represents more than just a preference for pre-owned items; it’s a testament to the evolving priorities of consumers.”
The Generation Gap
Whilst over a third (34%) of Brits purchase second-hand goods every month, there is a clear generational divide when it comes to recommerce. Millennials and Gen Z lead the recommerce surge, with 58% of Gen Z stating they purchase re-commerce items on a weekly or monthly basis, followed by half (50%) of Millennials. However, in contrast, over a quarter (27%) of Boomers say they never buy second-hand.
With the cost of living being the biggest worry of young people according to the World Economic Forum, it is no wonder that younger generations are more cost-aware when it comes to buying items.
Read the full findings of the ShipStation survey at shipstation.com
