40% of the products available online as second-hand
The market for used and refurbished – second-hand – items in Germany is experiencing growth. For 40% of the analyzed products in the categories of electronics, home & garden, and sports & outdoor, there are offerings, representing a six-percentage-point increase compared to the previous year.
Marketplace consultant Metoda, in its second study, analyzed publicly available data from the price portal Idealo. A total of 11,908 products from 1,380 different brands across 133 categories were examined.
The competition in the second-hand goods market is increasing, especially in highly demanded categories. More and more providers are offering used goods, and the significance of marketplaces for both sellers and buyers is rising, similar to the new goods sector. According to a study, shops and brand manufacturers are increasingly utilizing their own websites and marketplaces, with eBay holding a substantial share of 60 percent.
Simultaneously, there is a noticeable rise in the price index compared to 2022. This broadening price range for identical used and refurbished items complicates consumers’ efforts to find the best price for second-hand items, making the search increasingly time-consuming and challenging. As a result, buyers must invest more time in comparing prices across various platforms and sellers, navigating through a more complex landscape of options. This shift in dynamics underscores the importance for consumers to employ thorough research and strategic shopping approaches when seeking cost-effective second-hand alternatives in the expanding and competitive market.
Price as the main incentive: Used items in focus
The rising popularity of e-commerce in the used goods sector is driven by factors like overall e-commerce growth and the trend of trading used items. The appeal of the second-hand market lies in sustainability and the shift towards conscious consumption. Businesses and consumers, aiming to reduce waste, explore online platforms for used items, boosting their popularity. As demand grows, companies expand offerings, adding dynamism to the used goods e-commerce landscape.
When people in Sweden buy used items online, it is mainly because they are more cost-effective. Obtaining a good price for an item that someone else has already used is an easy way for those looking to save some money. 42 percent of those who have purchased used items online cite this as the primary reason for their second-hand purchases.