Business development · 31 October 2018

UK consumers stockpiling 17.7bn in unwanted goods

Gumtree has revealed that 42% of people in the UK sold unwanted or unused items in the last year
New research by Gumtree has revealed that the UK’s second-hand economy is thriving, thanks in part to the growing environmental consciousness of consumers.

A study from classified ad’site Gumtree has revealed that 42% of people in the UK sold unwanted or unused items in the last year, making an average of 378 each.

Gumtree’s global ‘second-Hand Economy Report? which was designed to grasp the extent to which people are selling, swapping, buying or donating used items found thatthe average British household currently has 22 unwanted or unused items stockpiled worth a total of 881. This adds up to 17.7bn nationally.

The study also uncovered that people in the UK are increasingly seeking out second-hand products spending an average of 1, 298 on used items in the past year, equating to 57.4bn nationwide.

Books (32%) and cars (31%) were by far the most popular items purchased second-hand, followed by music, DVDs or CDs (18%) and collectibles/antiques (17%). Meanwhile, the most popular items being sold were clothes and accessories, followed by music, DVDs and CDs and electronic goods like phones and PCs.


 

ABOUT THE EXPERT

Jennifer is a reporter for Business Advice.

Strategy