GlobalWebIndex research shows rise of resale marketplaces

88% of Brits are willing to receive a gift for the holidays that was purchased on a resale marketplace such as eBay, Etsy or Facebook Marketplace.

That’s according to research by GlobalWebIndex, involving 2,154 people. “A key driver behind the growing popularity of resale marketplaces is the opportunity to buy rare and retro items,” says Chase Buckle, Trends Manager at GlobalWebIndex.

“What’s surprising is feelings of nostalgia are not exclusive to older generations, with eight in ten Millennials expressing they experience feelings of nostalgia (no matter how strong) at least occasionally, with four in ten saying they do so often. This is the market that second-hand marketplaces such as Depop and Carousell sell into very effectively.”

69% of consumers state they would purchase a nostalgic or collector’s item from their past through eBay, while 42% would opt for Amazon. Newer entrants to this market including Etsy (14%) and Facebook Marketplace (18%) also now have a considerable foothold.

Besides price (50%), eBay users have an array of motivations. 37% of UK consumers state they can find things they can’t otherwise find in stores or on other sites. 31% find interesting and unique items as well as second-hand items through eBay. By contrast, 48% choose to purchase something from Amazon because of faster shipping. Equally, the competitive prices (45%) and being a Prime customer (33%) are other key purchase drivers for Amazon customers.

When asked about the most important elements when purchasing such an item, alongside the item’s quality (63%), buyers need to be reassured of the trustworthiness of the seller (52%) and the authenticity of the item (49%), potentially explaining the preference for larger retailers. Just 27% of consumers picked a quick shipping time as a priority. In fact, 40% of people in the UK would happily sacrifice a fast shipping time to get a better price for an item.