Purchases of refurbished products are growing more than 150%, according to an eBay report
The search for used or semi-new products is growing in Brazil. With the rise of re-commerce (e-commerce of refurbished products), this consumption model is becoming increasingly popular as inflation, currency devaluation and conscious consumer habits rise. But despite the growth, customers are still looking for quality items at an affordable price, all through a fluid and reliable experience.
According to an eBay report (April 2022), in the last two years, the refurbished product category has grown by more than 150% in Brazil and continues to gain momentum worldwide. Raúl Bustamante, head of communications and marketing for eBay Latin America: “Faced with the economic scenario, consumers are looking for affordable alternatives to refurbished products that offer similarity, quality and significant discounts when choosing premium brands, all of which support the shopping experience. buying from confidence”.
The trend was strengthened by the arrival of the Covid-19 pandemic and since then the trade in used goods has been growing. 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. “The demand for used electronics is growing in particular. Buying refurbished technology is not only a great way to save money on your devices, but it’s also great for the environment, because technology equipment is reused, not thrown away,” says Bustamante.
Percentage of used items purchased from April 2021 to April 2022:
- 42% smart phones and electronics
- 42% clothing
- 36% collecting
- 28% books
- 28% toys
smart phones 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. “Refurbished items available on eBay are devices that have been returned, inspected, repaired or reset and are ready to be used again,” says Bustamante.
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.
Refurbished items available on the e-commerce site vary, they are iPhone, iRobot Roomba, Apple Watch, Lenovo Chromebook, Samsung Galaxy, Dell Laptop among others. According to an eBay report (April 2022), the countries that bought the most used and/or semi-new items were the US, 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 – have started selling used items online in the past year,” adds Bustamante.
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%. “We have seen a younger generation of sellers and buyers driving increased demand for used goods in our global market,” comments Bustamante.
Percentage of global sellers in each generation who bought used goods from April 2021 to April 2022:
- 80% Summers
- 78% of millennials
- 75% Generation X
- 70% of 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. “Refurbished items are currently available for purchase online with programs that give customers the opportunity to purchase the brands they want at lower prices than they cost new,” concludes Bustamante.