The cost of living in the UK is steadily climbing, prompting a shift in consumer behavior when it comes to shopping. A recent report by eBay Ads sheds light on this change, revealing that more and more UK consumers are turning to secondhand shopping and upcycling as a means to combat rising prices and reduce their environmental footprint. According to the report, a significant 30% of consumers are now making more thoughtful purchases in order to get better value for their money, while 19% are actively opting for secondhand items to save cash.
In addition, the report highlights that 25% of UK consumers purchased secondhand fashion in 2021. This shift towards secondhand shopping is indicative of a larger movement towards a circular economy, where individuals prioritize upcycling or repairing their existing possessions rather than buying new ones. In fact, a quarter of the respondents stated that they actively engage in upcycling or repair projects, while 20% admitted to frequently purchasing secondhand, upcycled, or refurbished items.
The interest in secondhand goods is further substantiated by search data from eBay Ads UK. In January of this year, searches for ‘upcycled’ on eBay rose by a significant 40% compared to the previous month. Similarly, searches for ‘secondhand’ and ‘repair kit’ witnessed increases of 24% and 21% respectively during the same time frame. This upward trend has been consistent year-on-year, with searches for ‘pre-owned’ rising by 19% in January 2021 compared to January 2020, and a further 38% increase in January 2022.
Moreover, the report brings attention to the rising importance of sustainability among consumers. 19% of respondents emphasized the importance of shopping as sustainably as possible, while an equal percentage actively tried to avoid fast fashion and brands they deemed unethical. Additionally, 22% expressed awareness of the negative environmental impact associated with discarding items rather than repairing, recycling, or selling them.
eBay’s platform itself showcases the growing consumer demand for environmentally-friendly products. For instance, searches for ‘biodegradable’ on eBay saw a substantial 59% increase in January 2022 compared to the previous month.
To conclude, the escalating cost of living in the UK, coupled with a heightened climate consciousness among consumers, has catalyzed a surge in secondhand shopping and upcycling. Consumers are actively seeking ways to save money and make more sustainable choices. As a result, retailers must pay close attention to these shifting shopping preferences and prioritize showcasing their understanding of customers’ evolving desires for thriftiness and sustainability. The circular economy is gaining momentum, and businesses that align with this trend will be well-equipped to meet the demands of the modern consumer.
Useful links:
1. eBay UK
2. Circular Online
