Second-hand gift sales will account for 10.2% of total UK Christmas gift sales, which are expected to reach £20.5bn in 2024, according to new research by peer-to-peer pre-loved app Vinted.
The new Recommerce 2024 Report found 84% of the shoppers are likely to spend some portion of their festive gift budget on second-hand.
It stressed while second-hand gifting is growing, it is not entirely new – a proportion of consumers have already bought second-hand Christmas gifts in the past. Nearly two-thirds (63%) of second-hand shoppers have bought pre-loved items as Christmas gifts at some point in the past, rising to 79% of those aged 25 to 34. A majority of shoppers (63%) are also comfortable receiving second-hand gifts.
Vinted said the desire for rare and unique items is driving second-hand gifting, as well as its ability to save consumers money and help them stick to a budget. 73% of the shoppers surveyed would buy second-hand for someone if they found a unique item, and 71% if they found something high quality.
Saving money is a benefit of second-hand shopping for 54% of surveyed consumers, and more than a quarter (29%) shop second-hand to lower their environmental impact.
“We would really encourage people to think about giving second-hand items. Choosing to buy a pre-loved or second-hand item from a second-hand platform like Vinted doesn’t diminish the spirit of giving, and a thoughtful second-hand item can be wonderful to receive,” said Adam Jay, CEO at Vinted Marketplace.
“The research shows clearly that second-hand is growing in popularity as a way to gift and this is very encouraging. Using a second-hand platform like Vinted is a fun and accessible way to find unique gifts while making a better choice for the planet, your wardrobe and your wallet.”
Read more about Vinted in an exclusive company profile on the ChannelX Europe’s Marketplaces 2024 report. It looks at Vinted’s significant growth and the momentum of the second-hand fashion market.
The wider report offers an insight into not only how the European marketplace sector as a whole operates, but how each marketplace by region and sector drives that performance – and what that means for the year ahead.
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