Second-hand market is ‘booming’ in the pandemic as consumer habits change and shoppers get thrifty.
WITH the health crisis and changing consumer habits, the second-hand market is booming as 60 per cent of people in Spain admitting they favour buying used products and giving them a second life.
This includes clothes, furniture and any other products that can be reused, recycled and upcycled to extend their useful life and be more sustainable.
Star products in 2020 were clearly linked to the new situation we find ourselves in, with the sale of second-hand computer monitors, office chairs and desks, exercise bikes and consoles seeing a 23 per cent rise in sales.
And all forecasts see continued growth in this market.
It is estimated that its overall growth will be around 20 per cent per year in the next five years.
The used clothing business will exceed €52,600 billion in 2024 and €24,000 billion will be reached in the sale of second-hand furniture.
Thredup, an American giant that sells second-hand clothes, predicts that by 2029 the consumer’s wardrobe in America and Europe will be 19 per cent made up of second-hand clothing, compared to the current 3 per cent, also surpassing low-cost fashion in this regard.
And in shops in Spain, trends are also changing.
Martín Spasov, owner of El Ofertón, said that before the pandemic, antiques were always sought, but sales of these items have dropped by 80 per cent.
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