News
June 11, 2024
eBay Leads the Recommerce Economy
Since its founding in 1995, eBay has played a leading role in establishing the circular economy, by giving Americans a place to sell their gently used goods, helping to keep usable items out of landfills. In fact, pre-loved and refurbished items make up 40% of eBay’s gross merchandise volume (GMV).
As part of eBay’s efforts to support the circular economy, we recently conducted a survey of more than 16,000 general consumers worldwide and 12,515 eBay sellers to understand their views on recommerce. Here are three key findings:
- Shopping used is in.
Nearly 90% of consumers reported buying or selling pre-loved goods over the past 12 months. In contrast, only 1 in 7 consumers surveyed have not bought a used item in the past year.
Even celebrities are getting in on the action. Alicia Silverstone, star of “Clueless,” is a proud second-hand buyer.
“Recommerce is so rewarding because I can find things that bring me joy while doing something to help minimize waste on our beautiful planet,” she said.
- Surge in fashion recommerce.
On eBay globally, the number of sold clothing, shoes, and accessories with “thrifted” in the description increased by over 400% in March 2024 vs. March 2023. The survey found 53% of consumers polled believe “fast fashion” contributes to unfair labor practices.
“The pre-loved fashion market is thriving, driven by savvy Gen Z shoppers seeking out quality pieces at great prices. eBay is focused on pushing the bounds of innovation to elevate the marketplace experience so that buying and selling pre-loved fashion on eBay feels even better than buying new,” Charis Marquez, the Vice President of Fashion at eBay, said.
- Recommerce drives economic opportunity.
Half of all sellers reported an increase in selling pre-loved goods compared to the preceding five years — and those sales can lead to new small businesses. Nearly 80% of global sellers surveyed got their start on eBay by selling pre-loved goods.
eBay is constantly working to make its platform better for the buyers and sellers who support recommerce.
“eBay has been a driving force behind recommerce, and we continue to invest in tools and technology that fuel the circular economy,” Jamie Ianonne, president and CEO of eBay.