2 min. reading

Recommerce Grows In Sales Numbers And Popularity Among Consumers

The word recommerce is being thrown around more and more. It refers to the sale of consumer goods that someone already owns - these can be used, but also second-hand or unwrapped products.

This article was translated for you by artificial intelligence
Recommerce Grows In Sales Numbers And Popularity Among Consumers
Source: Depositphotos

The word “recommerce” also includes the repair, renovation, refurbishment or rental of consumer goods. It is estimated to be worth €120 billion by 2025. Major players such as Amazon have also jumped on the second-hand bandwagon, and it is paying off – they made billions in sales last year.

According to a study by Cross-Border Commerce Europe in partnership with FedEx Express and Poste Italiane, recommerce is set to take off. In 2022/23, the European recommerce market was worth €94 billion. It currently represents 12.3% of the total European e-commerce market. It is expected to reach 14% in the next three years.

Source: Cbcommerce.eu

The public likes Second-Hand products

The survey shows that up to 85% of shoppers have bought or sold secondhand goods in the last year, with 27% doing so for the first time. Up to 75% of recommerce transactions are in non-clothing categories. These include electronics, furniture, household and sporting goods, books, outdoor equipment and cars. 76% of shoppers feel that the stigma associated with buying second-hand has decreased. Conversely, 41% of respondents say that buying used goods is now a status symbol.

In a recent survey of the UK market, it was found that both environmental and economic reasons favour increased sales of Second-Hand goods. More than half (55%) of shoppers admitted to buying used goods because of the lower price. Only 8% cited sustainability as a reason for buying.

Share article
Similar articles
Will ChatGPT Become OpenAI’s New Revenue Stream?
3 min. reading

Will ChatGPT Become OpenAI’s New Revenue Stream?

OpenAI is building a payment system so people can buy stuff directly through ChatGPT without leaving the chat. According to Reuters reports, merchants will pay the AI company commissions on sales. It’s a new way to make money after losing $5 billion last year despite hitting $10 billion in revenue.

Katarína Šimčíková Katarína Šimčíková
Freelance I Digital Marketing Specialist, Ecommerce Bridge EU
Marketing Teams Ignore £30 Million Problem: E-commerce Returns
4 min. reading

Marketing Teams Ignore £30 Million Problem: E-commerce Returns

Online shoppers return 30-40% more products than in-store customers, but marketing tools don’t track this data. According to analysis from The-future-of-commerce.com, one fashion brand discovered a £30 million gap between reported revenue and actual earnings after accounting for returns. Most digital marketing metrics completely miss this problem.

Katarína Šimčíková Katarína Šimčíková
Freelance I Digital Marketing Specialist, Ecommerce Bridge EU