Because the rising cost-of-living disaster sees vitality payments, gas and meals costs proceed to climb, extra UK shoppers are turning to second-hand procuring and upcycling as a way to make ends meet – in addition to minimise their environmental affect.
That’s in line with new analysis from eBay Advertisements, which finds that 30% of shoppers are having to make extra thought of purchases as a way to get higher worth for cash, and a fifth (19%) are shopping for extra second-hand gadgets as a way to get monetary savings. One space of style pushed by on-line is the resale market, with 25% of UK shoppers shopping for second-hand style in 2021.
As shoppers more and more look to get thrifty and accountable with their procuring habits, retailers must be aware of the evolving calls for of shoppers and showcase their understanding of procuring priorities.
Coming round to the round financial system
The analysis, which surveyed 1,000 UK respondents, discovered that buyers’ curiosity in shopping for second hand is a part of a wider progress of the round financial system. Certainly, 1 / 4 (25%) of shoppers say that they attempt to upcycle or restore their present belongings earlier than shopping for something new, and one in 5 (20%) report that they steadily purchase second-hand, upcycled or refurbished gadgets.
That is supported by insights from eBay Advertisements UK, which finds that curiosity in second-hand gadgets was rising quick in the beginning of this 12 months. In January 2022 searches for ‘upcycled’ rose 40% on ebay.co.uk in comparison with the month earlier than, and searches for ‘second hand’ and ‘restore package’ rose 24% and 21% respectively in the identical timeframe.
And this development has been rising persistently year-on-year. For instance, searches for ‘pre-owned’ have been up 19% in January 2021 in comparison with January 2020 and elevated an extra 38% in January 2022.
Sustainability is a promoting level for customers
The growing significance of sustainability to shoppers can also be contributing to the rise in second-hand procuring and upcycling. The analysis finds that nearly a fifth (19%) of these surveyed say procuring as sustainably as doable is absolutely vital to them. As well as, a couple of in 5 (22%) report that they’re acutely aware of discarding and sending gadgets to landfill after they may very well be repaired, recycled or offered on – and 19% mentioned that they attempt to keep away from quick style manufacturers or manufacturers that they take into account to be unethical.
In the meantime, insights from eBay Advertisements UK display that customers are actively looking for extra environmentally pleasant merchandise on the platform – for instance searches for the time period ‘biodegradable’ rose 59% in January 2022 in comparison with the earlier month on ebay.co.uk.
For retailers trying to enhance their sustainability practices, and market to a rising cohort of climate-conscious shoppers, it’s clear that packaging, location and recyclability of the product are the three high priorities to bear in mind. Customers reported the highest elements they take into account when attempting to restrict their environmental affect as:
- Sustainable packaging (37%)
- Purchasing regionally (30%)
- The recyclability of a product (30%)
- Product lifespan (24%)
- A product’s sustainable credentials (24%)
Elisabeth Rommel, International GM at eBay Advertisements mentioned, “Between the rising cost-of-living and a rising need to make extra sustainable purchases, UK shoppers are more and more fascinated by how they are often savvy with their procuring.
“With upcycling, shopping for second-hand, and extra sustainably sourced merchandise all rising on customers’ agendas, retailers in flip have to be adapting to those evolving preferences as a way to interact their prospects and contribute to the round financial system.
“Whether or not it’s providing a restore service, beginning a second-hand store, or making packing and supplies extra sustainable – retailers should faucet into what actually issues to shoppers at the moment, and talk sustainability credentials clearly of their advertising and product info.”