Facing Unemployment and Climate Change, Consumers Turn to Recommerce

The pandemic has driven the rise of recommerce, or the sale of previously owned products, according to new research from ecommerce platform eBay. The survey found 56% of U.S. respondents now sell more pre-owned goods than they did just one to five years ago. In addition, 87% have sold pre-owned goods in the past year, while 53% of U.S. sellers said they are likely to start selling pre-owned goods in the future. Used technology and electronic items are the most popular and profitable, while apparel—including sneakers, clothing and bags—comes in at a close second, the report said. About 28% of U.S. sellers said tech and electronics secure maximum sales, leading to over 51% focusing on those items. In the U.K., 24% of sellers said apparel items secure maximum sales. ‘An additional avenue of economic opportunity’ The survey of more than 4,000 sellers found recommerce is growing as many Americans have lost their jobs. The U.S. ended 2020 with an unemployment rate of 6.7%, nearly two times greater than before the pandemic began. And, according to eBay, Americans have an average of 36 items in their homes that can be resold at an estimated $3,675. That number jumps to $5,660 in Canada. “Recommerce is providing our community … with an additional avenue of economic opportunity during the global pandemic—while also highlighting the sustainable benefits of buying and selling pre-owned items,” said eBay chief sustainability officer Renee Morin in a blog post. Ford Nabs Former eBay Marketer as New Global CMO Sustainable shopping Recommerce allows buyers to purchase secondhand items for less than the usual price, but it also supports greener living. Recommerce helps save water and energy used in the production of new goods while it also prevents items from being sent to landfills. According to report from eBay, around 720,000 metric tons of carbon emissions were conserved through the sale of pre-owned electronics and apparel on eBay. The survey also projects 3 million metric tons of carbon emissions will be saved through sales of pre-owned goods on eBay from 2020 to 2025. About 16% of U.S. respondents said this sustainability benefit is a motivation for selling pre-owned items. That number increases in other countries, particularly in Germany, France and the U.K. “Recommerce plays an integral and often under-utilized role in the transition to a sustainable and circular economy,” said Lauren Phipps, senior analyst at media company GreenBiz Group. “Extending the useful life of products significantly decreases the carbon footprint of consumption—plus, buyers save money and get to feel good about making more environmentally conscious purchases.” Unsurprisingly, Gen Z is playing a major role in this growing trend. In fact, 73% of survey respondents aged 18 to 24 said they're considering reselling items for the financial benefit, which is more than double the average across all other generations. This generation is also buying more pre-owned goods, with 81% saying their purchases of pre-owned goods have become more common in the past year.