The online second-hand market is now valued at £4.3 billion a year in the UK and will grow to £4.8 billion in 2025, according to a new study.
Amazon-commissioned research by economic forecast group the Centre for Economics Business Research (CEBR) found two-thirds of Brits bought second-hand goods online in 2024.
The report, which included a survey of 10,000 adults across Europe, reveals UK consumers saved £5.6 billion in 2024 by choosing pre-owned products. The key factors behind the decision by consumers to delve into the online second-hand market were cost-of-living pressures, wider availability of pre-owned products, and heightened consideration of environmental issues.
Second-hand products being purchased online include ‘open-box’ items, where an item has been returned unused, and refurbished products, where a pre-owned product is inspected, cleaned, and repaired to return it to near-new condition. According to the study, second-hand products now account for 34%-45% of UK spending within categories such as tech, fashion and home appliances.
The report found average monthly spending on pre-loved goods has more than doubled over five years, climbing 113% from £58.40 to £124.80 a month during that period. Furthermore, the study claimed 27% of online second-hand market purchases in the UK represent sales that would not have happened without the used option being available.
Some 74% of people aged 34 and under embracing second-hand shopping compared to 52% of over-55s. The study found 27% of Britons no longer believe that new is inherently better than used.
The wider survey was answered by consumers from the UK, France, Germany, Italy, and Spain.
John Boumphrey, Amazon UK country manager, commented: “At Amazon, we believe that putting returned items back on sale isn’t just good for the planet and for business – it’s what our customers want.
“Our Second Chance sales in the UK and across Europe, including from Amazon Resale and Amazon Renewed, exceeded €2 billion in 2024, as we have expanded our used product selection.”
Sam Littlejohn, Amazon’s head of returns & repairs, added: “Britons are turning to second-hand shopping in large numbers, but to supercharge the sector’s growth, customers need to trust buying a used product as much as buying new.”
Amazon is joined by many retailers in offering online second-hand market options for consumers.
Outdoor brand Patagonia has long championed the concept of keeping goods in circulation as a sustainability play, and launched its own Wornwear website for preloved items back in 2012. Last week, it integrated trade-ins directly onto Patagonia.com platform in a move that positioned second-hand alongside new goods on its main site.
It means consumers on the Patagonia website are now presented with preloved alternatives when shopping for new goods. The apparel business is working alongside technology partner, Trove, to support its work in this area.
[image credit: Green Retail World]
