UK Shoppers are to spend big on 2nd hand gift Christmas gifts this year according to a new Recommerce 2024 Report from Vinted in partnership with Retail Economics. A massive 10% of the £20.5bn total that will be spent in the UK on Christmas gifts will be preloved, that’s £2.05bn!
The report suggests that 84% of us are likely to spend at least a part of our Christmas budget on 2nd hand gifts, but this isn’t an entirely new phenomenon but it’s growing fast. In the past:
- 63% of shoppers have bought pre-loved items as Christmas gifts at some point in the past
- This rises to 79% of those aged 25 to 34
- 63% shoppers are comfortable receiving second-hand gifts
The big motivation for 2nd hand gifts is cost savings for 54% of shoppers, while being environmentally conscious and reducing their impact on the planet appeals to 29% of shoppers. But it’s also the ability to find that perfect gift with 73% of shoppers saying that they would buy 2nd hand if they found a unique item that would make the perfect gift, and 71% would opt for 2nd hand if they found a high quality item.
So which preloved gifts might you expect to receive this year? Well it’s not all about clothes on Vinted, the list of categories where shoppers are comfortable to buy 2nd hand includes:
- Clothes
- Books
- Music
- Luxury items
- Designer brands
We would really encourage people to think about giving second-hand items. Choosing to buy a pre-loved or second-hand item from a second-hand platform like Vinted doesn’t diminish the spirit of giving, and a thoughtful second-hand item can be wonderful to receive. .
The research shows clearly that second-hand is growing in popularity as a way to gift and this is very encouraging. Using a second-hand platform like Vinted is a fun and accessible way to find unique gifts while making a better choice for the planet, your wardrobe and your wallet.
– Adam Jay, CEO, Vinted Marketplace
With secondhand shopping continuing to increase in popularity, we expect to see further growth in sales across multiple categories as consumers continue to reap the benefits. The cost-of-living crisis, environmental concerns, and the increase in accessibility of pre-loved items are all contributing to its growth, and consumers are likely to continue embracing this space into 2025.
– Richard Lim, CEO, Retail Economics
