UK shoppers will purchase 拢4.8 billion ($6.1 billion) worth of secondhand products online this year, according to a report from the Centre for Economics and Business Research (CEBR) commissioned by Amazon. That鈥檚 up nearly 12% YoY, as consumers look for ways to shop that are easier on their budgets and the environment.
Retailers that lack a robust resale or refurbishment strategy risk losing out. Platforms like Vinted, Depop, and Amazon are meeting rising consumer demand for more sustainable鈥攁nd affordable鈥攑roducts. Establishing an official program can set new consumer expectations for retail while easing common fears about shopping secondhand, including concerns about item condition and seller trust.
This is the first installment of our biannual 鈥淯碍 Ad Spending Benchmarks鈥� series, which helps ad buyers and sellers calibrate their spending and revenue mix against the market.