Mangopay research: Gift-Shift January a huge opportunity as it drives increase in pre-loved clothing sales

Mangopay has released new data into clothing sales on pre-loved marketplaces.

Comparing January to June 2023 to January to June 2024, the company, which powers payments for some of Europe's biggest second-hand marketplaces including Vinted and Wallapop, reveals that sales have increased by 34% year on year. Further, compared to the first half of 2022, sales have shot up by over 282%. 

James Butland, Managing Director, UK, at Mangopay comments: “The ongoing surge in marketplace sales underscores a profound shift which has taken place in consumer shopping behaviour.”

“Amid the ongoing cost-of-living crisis and worrying developments in climate change, UK consumers are increasingly choosing to spend their money on pre-owned goods, driven by both financial prudence and a growing commitment to sustainability. As a result they are actively seeking out ways to participate in the circular economy.”  

The substantial growth in the pre-loved sector shows no sign of slowing down. By the end of 2023, sales had already increased 138% year-on-year.  

The Mangopay data also shows a marked increase in clothing sales on pre-loved marketplaces every January, bucking the traditional January slow down trend and indicating that consumers may be looking for ways to benefit financially from unwanted Christmas gifts.  

January 2024 saw a 9% increase in sales compared to December 2023, resulting in a 17% increase in transaction value. The growth peaked in January 2023, which saw a 41% increase in transaction value compared to December 2022, from a 30% increase in sales.  

Butland says: “While the Golden Quarter is heralded as a critical trading period for retailers, this terminology needs to be updated for marketplaces. The true peak is the ‘thrifty third’ where commercial peaks are lasting for four months, not just three.  

“The Gift-Shift January signalled in our data presents a huge opportunity for pre-loved marketplaces to capitalise on this growth and foster the circular economy of the future - one that is easier for consumers to participate in and is underpinned by robust infrastructure that enables a frictionless experience for buyers and sellers alike.” 

2024 RTIH INNOVATION AWARDS

Pre-loved marketplaces are a key focus area for the sixth edition of the RTIH Innovation Awards, which is now open for entries.

The awards, sponsored by Scala, CADS, 3D Cloud, Brightpearl by Sage’s Lightning 50, and Retail Technology Show 2025, celebrate global tech innovation in a fast moving omnichannel world.

Key 2024 dates

Friday, 25th October: Award entry deadline 

Tuesday, 29th October: 2024 shortlist revealed

30th October-6th November: Judging days

Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.