eBay have conducted a survey showing that younger generations, particularly Generation Z, are driving the demand for recommerce and are motivated to sell and buy secondhand goods.
eBay’s second annual Recommerce Report found that younger sellers are emerging as a major economic force in the secondhand resale market. According to our latest survey, 80% of Gen Z bought secondhand goods, while nearly 1-in-3 began selling them in the last year. Gen Z also makes up the largest generational category of new sellers at 32%, followed by 16% of Millennials who began selling secondhand goods in the past year.
Today, consumers from around the world are more carefully considering the implications of what they buy, where they buy and who they buy from.
The latest report underscores that economic opportunity is the key driver for recommerce, with 52% of female respondents globally stating that making extra cash is a primary reason they sell pre-owned goods. In the U.S., that number is even higher at 71%. For Gen Z, that figure is 63%, up from 46% last year. Approximately 20% of survey respondents said the circular economy (i.e., keeping products and materials in use for a longer period of time) was their top reason for purchasing pre-owned. That number is even higher in the U.S. (26%) and Canada (31%), where reselling has become a major trend, especially for sneakers, watches and collectibles.
Empowering people and creating economic opportunity for all is at the heart of everything we do at eBay – and the ripple effect of our work creates waves of change. Our marketplace allows people to rediscover the value of secondhand items with the added bonus of contributing to a more prosperous, more sustainable future for everyone.
– Jamie Iannone, CEO, eBay
Additional Key Findings
- In the U.S. 63% of people now selling pre-owned goods on eBay are finding them around their house.
- Approximately 72% of responding sellers believe that buying pre-owned has become more common. Moreover, 64% believe that selling secondhand products has become easier in the past year, and 48% sharing they now sell more pre-owned goods than in the last several years.
