There is a deeply ingrained culture of consumerism in our society. Recent years show the sale of the global resale market has been increasing rapidly, and the stigma associated with the consumption of second-hand items has been disappearing.
Moreover, big brand retailers and well-known fashion houses have also entered the resale market. Real Research, an online survey app, launched a survey on the global resale market boom to gather opinions on this. Here are the survey findings.
- 67% have experience with the resale market
- 30.26% of respondents say shoes are the best item to resell
- 64.35% prefer the resale marketplace platform
The Stigma Is Gone for the Resale Market
A lot of trends have risen during the pandemic. One of these is the popularity of reselling preowned second-hand products. Accordingly, the survey on the global resale market boom asks if respondents have any experience with the resale market. In response, the majority of 67.01% have, leaving only 32.99% who have not.
As for the reasons behind the global resale market boom, 33.67% believe it is due to the interest of consumers in environmental sustainability. Others (17.51%) believe it is because of a fascination with rare items, while some think it is merely today’s trend (11.03%).
The Advantages and Disadvantages of the Resale Market
For further details, the survey asks about the advantages and disadvantages of resale. As for the benefits, 33.97% say the resale market helps protect the environment. In addition, 18.79% say it has high profits, and another 15.52% say it gives self-satisfaction. A further 11.19% added that there is a chance to find unique and rare items in the resale market.
On the other hand, the majority (41.86%) say that the major drawback of resale is the unsteady price that varies depending on buyers. Whereas 20.93% say it’s the increasing number of consumers in the global resale market, and 19.35% expect there could be tax applied in the foreseeable future.
The survey further asks if it is likely for the global resale market to grow still. Here, 37.13% believe it is highly likely. The rest (18.69%) somehow expect it to grow, while 12.22% are unsure.
Best Items for Reselling
Another reason people buy used items is the accessibility of resale marketplace platforms on almost every social media platform, such as Facebook and Instagram. However, as the resale market grows, traditional large retailers and global brands like Ikea and H&M are also trying to enter the system. On this, the survey asks which one the respondents prefer.
A whopping 64.35% prefer the resale marketplace platform, while the rest (35.65%) choose the retailer’s resale market.
There is a wide variety of global resale goods, like clothing, electronics, and housewares, among a long list of other pre-owned products. The survey asks respondents which resale product they think is the best to resell. On top is shoes, with 30.26% of the votes. Following this are clothes (13.36%), bags (10.24%), and watches (9.48%).
Lastly, the survey asks respondents’ opinions on which item has a high resale value. The majority (43.49%) chose luxury items, followed by limited edition branded items (22.71%), former trendy items (17.84%), and collaboration items (15.27%).
|Survey Title||Survey on the Global Resale Market Boom|
|Duration||September 10 – September 17, 2022|
|Number of Participants||30,000|
|Demographics||Males and females, aged 21 to 99|
|Participating Countries||Afghanistan, Algeria, Angola, Argentina, Armenia, Australia, Azerbaijan, Bahrain, Bangladesh, Belarus, Benin, Bolivia,… Brazil, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Chile, China, China (Hong Kong) China (Macao), China (Taiwan), Colombia, Costa Rica, Croatia, Czech Republic, Ecuador, Egypt, El Salvador, Ethiopia, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Greanada, Guatemala, Honduras, Hungary, India, Indonesia, Iraq, Ireland, Israel, Italy, Ivory Coast, Japan, Jordan, Kenya, Kuwait, Kyrgyzstan, Latvia, Lebanon, Libya, Lithuania, Malaysia, Maldives, Maluritania, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar [Burma], Namibia, Nepal, Nicaragua, Nigeria, Oman, Pakistan, Palestine, Panama, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Sierra Leone, Singapore, Slovakia, South Africa, South Korea, Spain, Sri Lanka, Tanzania, Thailand, Togo, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen, Zimbabwe.|
Real Research News is the media platform that presents insights and studies of wide-range of topics. It focuses on insights gathered from its survey app.