UK shoppers are shifting towards secondhand gifting this Christmas, with expenditures expected to exceed £2 billion.
- This trend sees secondhand gifts making up over 10% of the total UK Christmas gift market, particularly among younger shoppers.
- Cost savings and environmental concerns are the main motivators for purchasing pre-loved items.
- Vinted’s verification service is enhancing consumer confidence in buying secondhand luxury items.
- Economists predict continued growth in the popularity of secondhand shopping as accessibility increases.
In a notable shift this festive season, UK shoppers are projected to spend more than £2 billion on secondhand gifts. This movement highlights a growing preference for pre-loved items, representing over 10% of the total Christmas gift market. Specifically, those aged 18-45 are leading this trend, with 53% purchasing secondhand at least monthly.
The appeal of pre-loved gifts largely stems from their cost-effectiveness, a factor cited by 54% of consumers surveyed. Moreover, 29% of respondents are motivated by environmental considerations, opting for secondhand as a more sustainable choice. Notably, 84% of shoppers intend to allocate part of their Christmas budget to pre-loved purchases.
In terms of product categories, consumers are increasingly comfortable buying secondhand, with items ranging from books and music to luxury goods. Vinted, a prominent marketplace, has bolstered consumer confidence with its item verification service, ensuring the authenticity of secondhand designer products through expert checks.
Adam Jay, Vinted’s CEO, encourages the gifting of secondhand items, noting, “Choosing to buy a pre-loved item from a platform like Vinted doesn’t diminish the spirit of giving, and a thoughtful secondhand item can be wonderful to receive.”
Richard Lim, CEO of Retail Economics, anticipates further growth in this sector, attributing the rise to the cost-of-living crisis, environmental awareness, and easier access to pre-loved goods. He suggests this trend will likely continue into 2025 as consumers increasingly embrace secondhand options.
The rising trend of secondhand gifting in the UK reflects both economic and environmental consciousness among consumers.
