● New Recommerce 2024 Report by Vinted and Retail Economics reveals consumer attitudes and behaviours towards second-hand gifting over the festive season 2024*
● 84% of shoppers are likely to spend a proportion of their budget on pre-loved Christmas gifts this year
● UK consumers expected to spend over £2bn on second-hand gifts over the festive season as shoppers embrace pre-loved
● Second-hand will account for over 10% of all gift spending, with shoppers set to spend £20.5bn on gifts in total
● Shoppers aged 18-45 are driving demand for second-hand, with 53% of those under 45 buying second-hand items once a month or more
● Shoppers are planning to increase how much they buy second-hand – over a third (35%) expect to buy more over the next five years. This rises to 43% of those aged 25-34
● The desire to save money and the ability to find rare or unique items is driving demand for second-hand gifts, with shoppers appreciating the lower prices and uniqueness of pre-loved items
● Consumers are also selling their own items to fund this year’s festive gift shopping, with 43% selling items on platforms such as Vinted to fund their gift buying
● The categories where shoppers are most comfortable buying second-hand gifts include books, music items, and luxury items and designer brands
● A majority of shoppers are also comfortable receiving second-hand gifts, with 63% saying they would be comfortable receiving a pre-loved item
Consumers are embracing pre-loved gifting to the tune of £2.05bn this 2024 festive season, new research from Vinted and Retail Economics shows.
84% of UK shoppers are likely to spend a portion of their festive gift budget on second-hand items this year, with second-hand gift sales accounting for 10.2% of total UK Christmas gift sales, which are expected to reach £20.5bn in 2024.
While all generations are buying second-hand, it is increasingly popular with consumers aged 18-45 – 53% of those aged under 45 are buying second-hand items once a month or more, compared to 43% of all consumers.
Second-hand gifting is growing but is not entirely new - a significant proportion of consumers have already bought second-hand Christmas gifts in the past. Nearly two-thirds (63%) of second-hand shoppers have bought pre-loved items as Christmas gifts at some point in the past, rising to 79% of those aged 25 to 34. A majority of shoppers (63%) are also comfortable receiving second-hand gifts.
Behaviour change
The desire for rare and unique items is driving second-hand gifting, as well as its ability to save consumers money and help them stick to a budget. 73% of the shoppers surveyed would buy second-hand for someone if they found a unique item, and 71% if they found something high quality.
Saving money is a benefit of second-hand shopping for 54% of surveyed consumers, and more than a quarter (29%) shop second-hand to lower their environmental impact.
Shoppers aged 18 to 35 are more likely to enjoy the experience of finding the right second-hand item and to value the reduced environmental impact of shopping second-hand. Shoppers over 35 are particularly interested in finding unique or rare items, and are particularly likely to shop second-hand for nostalgic or sentimental reasons.
Separately, Vinted’s latest Impact Report found that 40% of transactions on Vinted avoided the purchase of a new item. The vast majority (84%) of Vinted buyers also said that they find the quality of second-hand items bought on Vinted as good or even better than new items.
Categories
Shoppers are broadly comfortable buying second-hand gifts across most categories, including books, music items, and luxury brands among the top-rated categories. 54% of consumers are comfortable buying second-hand clothing gifts. Across the categories, consumers are equally comfortable receiving second-hand gifts, with 62% keen to receive second-hand luxury items and brands.
Value-added options such as Vinted’s Item Verification service, which allows buyers to have second-hand designer items physically checked for authenticity by its team of experts for a fee, are helping people to buy second-hand luxury with greater confidence.
Another category growing in popularity is second-hand electronics, with Vinted recently launching a dedicated new electronics category to cater to this demand.
While second-hand is soaring in popularity, shoppers do still have some reservations. When asked about the factors stopping people from buying more items second-hand, shoppers said concerns about product quality can cause hesitation. Previous Vinted research, however, shows that concerns about quality are often unfounded. Vinted’s latest Impact Report found that the vast majority (84%) of Vinted buyers said that they find the quality of second-hand items bought on Vinted as good or even better than new items.
Discussing the findings, Adam Jay, CEO at Vinted Marketplace, commented: “We would really encourage people to think about giving second-hand items. Choosing to buy a pre-loved or second-hand item from a second-hand platform like Vinted doesn’t diminish the spirit of giving, and a thoughtful second-hand item can be wonderful to receive. The research shows clearly that second-hand is growing in popularity as a way to gift and this is very encouraging. Using a second-hand platform like Vinted is a fun and accessible way to find unique gifts while making a better choice for the planet, your wardrobe and your wallet.”
Richard Lim, CEO at Retail Economics, added: “With second-hand shopping continuing to increase in popularity, we expect to see further growth in sales across multiple categories as consumers continue to reap the benefits. The cost-of-living crisis, environmental concerns, and the increase in accessibility of second-hand items are all contributing to second-hand’s growth, and consumers are likely to continue embracing this space into 2025.”
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Notes to Editors
For more information, please contact kate.lam@vinted.com
About the research
The Retail Economics Recommerce Christmas research has been especially prepared for Vinted. It has been developed with the intention of providing a comprehensive view of second-hand shopping expectations for the festive season 2024.
The data contained in this report has been collated using a nationally representative consumer panel survey of those aged 18 and over, covering 2,000 households, in October 2024. Economic modelling and retail sales forecasts are based on proprietary Retail Economics data and official national statistics.
About Vinted
Vinted Marketplace is Europe’s leading international online C2C marketplace dedicated to second-hand fashion and more. With a mission to make second-hand the first choice worldwide, Vinted enables people to sell and buy second-hand clothes and lifestyle items from each other, helping give those items a second or even third life.
Vinted was founded in 2008 in Lithuania and in 2019 became the country’s first Unicorn.
Today Vinted is still headquartered in Vilnius, with offices in Lithuania, Germany and the Netherlands, and over 2,000 employees. Its backers include Accel, Burda Principal Investments, EQT Growth, Insight Partners, Lightspeed Venture Partners, and Sprints.
About Retail Economics
Retail Economics is an independent economics research consultancy focused on the consumer and retail industry. We analyse the complex retail economic landscape and draw out actionable insight for our clients. Leveraging our own proprietary retail data and applying rigorous economic analysis, we transform information into points of action.
Our service provides unbiased research and analysis on the key economic and social drivers behind the retail sector, helping to inform critical business decisions, giving you a competitive edge through deeper insights.
