UK shoppers plan to spend a total of £2.05bn on secondhand gifts over this festive season as pre-loved rises in popularity, new research from Vinted and Retail Economics has found.
Sales of pre-loved gifts are forecast to make up 10.2% of the total nation’s Christmas gift market this year, with the category particularly popular among those aged 18-45. More than half (53%) of consumers in this age group buy secondhand items at least once a month.
Of the shoppers surveyed, 84% said they are likely to spend some of their Christmas gift budget on pre-loved items.
Many consumers have already embraced secondhand gifts, with 63% having purchased pre-loved items for Christmas in previous years, while an additional 63% are open to receiving them.
The main motivator for buying pre-loved gifts is cost savings, with 54% citing this as a key reason. Additionally, 29% of shoppers shop secondhand to reduce their environmental impact.
Consumers are increasingly comfortable purchasing pre-loved gifts across various categories, including books, music, and luxury items.
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Vinted’s item verification service, which ensures the authenticity of pre-loved designer products through expert checks, has bolstered consumer confidence in buying secondhand luxury goods.
The marketplace’s chief executive Adam Jay said: “We would really encourage people to think about giving secondhand items.
“Choosing to buy a pre-loved item from a platform like Vinted doesn’t diminish the spirit of giving, and a thoughtful secondhand item can be wonderful to receive.”
Retail Economics chief executive Richard Lim added: “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.”
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