Older Generations Turn to Second-Hand Clothing Platforms Amid Cost Concerns
In a growing trend spurred by economic and environmental considerations, older generations are increasingly turning to second-hand clothing platforms like Vinted, Depop, and eBay. Data from finance app Revolut reveals that spending among over-55s on these resale platforms has surged by 12 per cent over the past year.
Depop, a marketplace often associated with younger demographics, has reported a significant 56 per cent increase in spending among 45- to 54-year-olds in 2024 compared to the previous year. Similarly, those between the ages of 65 and 74 spent 32 per cent more on Vinted, signifying a notable shift towards sustainable shopping practices.
Moreover, eBay, traditionally popular with older users, has witnessed a considerable uptick in activity from younger demographics. Spending by users aged 25 to 34 has surged by 95 per cent, while those aged 18 to 24 have increased their spending by 90 per cent over the past year. Recognising the competitive challenge posed by platforms like Vinted and Depop, eBay has eliminated selling fees for private sellers across most categories, apart from motoring, to attract more users and simplify the selling process.
Fiona Davis, Head of Growth for the UK, Northern Ireland, and Nordics at Revolut, noted that the trend underscores a growing demand for affordable and sustainable shopping options. "From children to grandparents, it's clear that savvy spenders are looking for options that maximise value for money and offer sustainability, and resale sites are important to give them that choice," Davis stated.
Anne-Marie Vladar, a 59-year-old who started using Vinted in May on her daughter's recommendation, highlights the ease and utility of such platforms. Vladar described her experience selling second-hand clothes and shoes, stating, "Selling on the platform has allowed me to clear my wardrobe of unwanted items which I can pass on to new owners and give a new lease of life, as well as benefitting from some extra money in the bank and the feeling that the clothes aren't going to waste."
In response to the rise in second-hand marketplace activities, eBay has rolled out several enhancements to its platform. These include simplified listing tools with AI-generated descriptions and photo enhancement, a streamlined shipping process with tracked delivery prepaid by the buyer, and eBay Local—a new feature that allows customers to locate and collect items in person.
Kirsty Keoghan, General Manager of eBay UK, stated, "eBay is constantly improving the marketplace experience in order to deliver on what our customers want. Removing selling fees across categories is designed to give buyers access to greater breadth and depth of inventory, while creating a simplified and streamlined experience for sellers."
The company's latest moves are aimed at unlocking the estimated £9 billion worth of unused items in UK households, encouraging people to sell them online rather than let them go to waste. According to eBay's research, nearly 55 per cent of people sell items to make money, and almost 47 per cent do so as a more sustainable alternative to discarding them.
As part of its strategy to compete with other popular resale platforms, eBay has introduced "eBay Balance," a feature launching in mid-October that allows sellers to use their earnings for various purposes on the platform, including shopping, promoting listings, and purchasing delivery labels.
The broader implications of this shift towards second-hand marketplaces are sizeable, indicating not just a change in consumer behaviour driven by economic and environmental concerns, but also a burgeoning market that values both sustainability and cost-efficiency.
Source: Noah Wire Services