Growing Demand for Affordable and Sustainable Shopping
- Europe’s secondhand market to grow by £1.7bn in 2025
- Online market for secondhand products worth £18.7bn currently
- Customers saved £32.64bn over past five years through buying secondhand items
- 85% of under-34s buy secondhand items, compared to 52% of over-55s
- Secondhand product sales exceeded €2 billion on Amazon in 2024
- Vinted tripled profits in 2024 due to consumer appetite for affordable pre-owned goods
New research commissioned by Amazon reveals that the online secondhand market in Europe is expected to grow by £1.73 billion by 2025, currently valued at £18.7 billion. The business management consultant CEBR’s data shows that customers across Germany, France, the UK, Italy, and Spain have saved an estimated £32.64 billion over the past five years through buying secondhand items instead of new ones. This market includes used products, ‘open-box’ items, and refurbished goods. The growing commercial market for pre-owned items is driven by cost-of-living pressures, environmental benefits, and online convenience. In 2024, Amazon reported that secondhand product sales exceeded €2 billion across Europe and the UK. Vinted, a Lithuanian-based online marketplace, tripled its profits to £66.39 million in 2024 due to increased sales of 36%. IKEA also expanded its secondhand marketplace following successful pilots in Oslo and Madrid.
Factuality Level: 7
Factuality Justification: The article provides relevant information about the growth of the secondhand market in Europe based on research by CEBR and includes quotes from Amazon’s VP Mariangela Marseglia and mentions related news about Vinted and Ikea. However, it lacks some objective analysis or contextualization of the data and could be more critical about the source (Amazon).
Noise Level: 3
Noise Justification: The article provides relevant information about the growth of the secondhand market in Europe and highlights the factors driving this trend. It also mentions specific examples of companies benefiting from it (Amazon, Vinted, Ikea). However, it could benefit from more analysis or context on the broader implications of this growth and potential challenges for traditional retailers.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses the growth of the online secondhand market in Europe, which is a financial topic as it relates to consumer spending habits and impacts companies like Amazon, Vinted, and Ikea. It also mentions the financial performance of Vinted, showing increased profits due to the growing demand for pre-owned goods.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification:
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