Smartphones and electronics were mostly bought
Per Essay – 29.09.2022
Refurbished products are products that have been returned to the manufacturer and are sold again after overhaul, cleaning, replacement of damaged parts or any other optimization. This market is growing, especially in Brazil, where the search for used or semi-new products is growing. With re-commerce – the e-commerce of refurbished products – this consumption model is becoming increasingly popular as inflation, currency devaluation and conscious consumer habits rise.
Despite the growth, customers are still looking for quality items at an affordable price, all through a fluid and reliable experience. In the last two years, the renewed category has grown by more than 150% in Brazil and continues to gain momentum worldwide.
According to the Ebay review, consumers are looking for affordable alternatives to refurbished products that offer likeness, quality and significant discounts when choosing premium brands, all backed by a trusted shopping experience.
The trend was strengthened by the arrival of the Covid-19 pandemic, and since then there has been an increase in the used trade. Renewed grew in different categories. Apparel sales grew 42% in 2021, up from 37% the year before. Items on the collectibles list saw an increase of more than 36% in supply in the category. Among the products that are bought the most are smartphones and electronics.
Buying refurbished tech is not only a great way to save money on your gadgets, but it’s also great for the environment because tech gear is reused rather than thrown away, according to an Ebay review.
Percentage of used items purchased from April 2021 to April 2022:
• 42% smartphones and electronics
• 42% clothing
• 36% collecting
• 28% books
• 28% toys
Smartphones and electronics top the list
Demand for refurbished smartphones and electronics exceeded new in the first half of 2022, and they are the top-selling items on eBay. Taking into account the average price of new devices that continues to rise and taking into account the growth of the secondary market, the consistent initiatives of gamers and consumers who are more aware of refurbished options, lead to this progress for smartphones, for example.
The e-commerce site has a dedicated section with over 190,000 refurbished products that have been professionally inspected and refurbished for sale in perfect condition. In recent years, the refurbished category has been one of the fastest growing in Brazil, with relevant numbers and making significant progress with refurbished items directly from top brands or better rated sellers.
Refurbished items available on the e-commerce site vary, among others, they are iPhone (most purchased in Brazil during 2022), iRobot Roomba, Apple Watch, Lenovo Chromebook, Samsung Galaxy, Dell Laptop. In 2022, the countries that bought the most used and/or semi-new items were the USA, the UK, Canada, Germany and Italy.
Generation Z leads the resale market
Savings is the main reason for buying used products, and this change is driven by younger generations who are looking for products that can have a good resale value. “Behind this growth in repeat trade, we can see a lot of movement from Generation Z, those born between 1997 and 2012,” says Bustamante. About 80% of Gen Z have bought used on eBay, while nearly 1 in 3 have started selling used in the past year. Overall, approximately 12% of people – regardless of age – started selling used items online in the past year.
According to the report, Generation Z comprises the largest generational category of new sellers at 32%, with Millennials (those born between 1981 and 1996) in second place at 16%. A younger generation of sellers and buyers is driving increased demand for used goods in our global marketplace.
Percentage of global sellers in each generation who bought used goods from April 2021 to April 2022:
• 80% Summers
• 78% of millennials
• 75% of Generation X
• 70% Baby Boomers
• 62% of the silent generation
Those who sell used goods believe that recommerce will become even more popular among consumers in the coming years. According to the study, approximately 64% believe that selling used goods has become easier in the past year, and 48% share that they now sell more used goods than they did in recent years.
Also read: Rising costs of living and lack of information make it difficult to adopt sustainable behavior