Consumers who are concerned about the cost of Christmas are turning to pre-loved platforms in a bid to offset festive prices, whilst also contributing to the circular economy, a new study has found.
Research from Virgin Media O2 Business and Depop has revealed 69% are worried about Christmas affordability. While, those selling on second-hand channels could earn an average of £146 a month (£1,752 a year).
“Online second-hand marketplaces have powered a new generation of entrepreneurs,” noted Ross Pearson, head of small enterprise at Virgin Media O2 Business.
“Anyone, anywhere can start a business from the comfort of their own home, powered by connectivity. Not only are they then able to make an income, they’re also sustainably giving products a second lease of life.”
In the past three months, one in five (22%) have increased their use of second-hand shopping apps, with clothing (68%) the most popular purchase followed by books and media (33%) and electronics (27%).
The study stressed that “at-home entrepreneurship” is thriving, with over a third (35%) selling belongings online in the past three months. This rises to more than half (54%) of Gen Z (18-24-year-olds). These figures come as more than two-thirds (68%) of UK consumers are look for ways to save or make additional money.
Steve Dool, director of brand and marketing at Depop, added: “With over 180,000 new listings a day, there’s no shortage of unique and trending pieces to discover on Depop across a broad range of second-hand styles.
“Depop is for anyone and everyone who is open to exploring their personal style, no matter what initially brings them to the platform. We’re excited to be able to offer our community of sellers and buyers more value for money and incredible inventory, whilst also helping to keep clothes that already exist in circulation for longer.”
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