In 2022/23, the European recommerce market was valued at 94 billion euros. The market share, in comparison with the entire European ecommerce market, is now 12.3 p.c. It’s anticipated to extend to 14 p.c within the subsequent three years.
Recommerce is a comparatively new time period, which incorporates options like restore, remanufacturing, rental companies, reconditioning, refurbishing, and resale. On-line marketplaces corresponding to Vinted are good examples of c2c recommerce marketplaces.
Recommerce grows sooner than total retail
In keeping with analysis by Cross-Border Commerce Europe, the recommerce market is projected to develop 5 occasions sooner than the general retail market by 2025. Earlier analysis indicated that the recommerce market was price 75 billion euros in 2021.
The recommerce market worth will improve 27% by 2025.
The researchers already projected that the market shall be price 120 billion euros by 2025. With the market’s present progress, that’s nonetheless to be anticipated. Which means the market worth will improve 27 p.c within the subsequent three years.
Picture of second-hand purchasing is bettering
In keeping with the analysis, 76 p.c of web shoppers assume that the stigma round second-hand purchasing has decreased. And in response to 41 p.c, shopping for second-hand has even grow to be a standing image. This reveals that the picture of the recommerce market continues to be bettering.
For 69% of sellers, cash made by reselling gadgets was useful in paying payments.
A minimum of 85 p.c of customers have both purchased or offered used items final yr. And 27 p.c did that for the primary time. For 69 p.c of sellers within the recommerce market, the cash they made helped them pay payments. And 39 p.c mentioned that reselling helped them make ends meet.
Sustainability of recommerce
Many shoppers have turned to recommerce for its sustainable picture, however the researchers say that there are some limitations to it. “Whereas reselling is a optimistic step, its advantages may very well be restricted if patrons select second hand garments along with, moderately than as an alternative of, new outfits. Leases may very well be extra detrimental to the setting, primarily as a result of transportation concerned in exchanging shared items. On-line peer-to-peer rental platforms providing multi-category vogue merchandise promote sustainability but additionally improve ‘final mile’ logistics routes for cleansing companies.”
