According to PYMNTS, price and timely delivery are among the top concerns for consumers during this year's holiday season. As inflation soars due to supply and demand, consumers are beginning to consider buying second-hand goods, especially refurbished goods, as holiday gift options.
Unlike ordinary second-hand goods, refurbished goods are usually returned to the original manufacturer for testing and repair before being sold, which allows consumers to ensure that they are buying authentic products. Many electronic brands and retailers have begun to offer refurbished goods, such as Apple, Best Buy and Newegg, and even IKEA has joined the queue.
eBay also launched its Certified Refurbished program last year, offering refurbished items directly from top brands. Earlier this month, eBay expanded the program to also include items from top sellers who have been thoroughly vetted and meet strict performance standards. After launching the Certified Refurbished program in October 2020, eBay saw a 170% surge in sales between Thanksgiving and Cyber Monday last year.
This year, 87% of consumers said they would do at least some of their holiday shopping online, compared with 83% last year, suggesting that marketplaces like Amazon and eBay could see further surges in demand, with eBay hoping its expanded selection of refurbished products will give it an advantage.
According to an eBay survey, 62% of US consumers are considering purchasing refurbished electronics, 84% are willing to accept refurbished gifts, and nearly half have given refurbished items in the past, up from 32% in 2020.
Additionally, secondhand marketplaces thredUP and The RealReal have publicly stated that they are not affected by the supply chain bottlenecks of other retailers and have plenty of new inventory.
Poshmark said last month it would begin allowing brands to sell directly on its platform, giving them access to the platform’s social marketing tools. Some brands have more followers on Poshmark than on social media channels, and 79% of buyers are buying from a brand on Poshmark for the first time.
Editor ✎ Xiao Zhu/ Disclaimer: This article is copyrighted and may not be reproduced without permission. |
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