PYMNTS-MonitorEdge-May-2024

secondhand

Millennial Shoppers Lead Resale’s Growth
Millennial Shoppers Lead Resale’s Growth
June 12, 2024  |  Retail

As consumers turn to secondhand shopping options to manage their budgets amid inflation, millennials are leading the way. By the Numbers For the January edition...

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One-Fifth of Secondhand Shoppers Bought Pre-Owned Furniture Last Year
One-Fifth of Secondhand Shoppers Bought Pre-Owned Furniture Last Year
June 06, 2024  |  Retail

As retailers see consumers trim spending on large-ticket items, many shoppers are turning to secondhand channels to make large purchases such as home furnishings. By...

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Shein Begins Extending Resale Platform to Europe, Starting With France
Shein Begins Extending Resale Platform to Europe, Starting With France
June 03, 2024  |  eCommerce

Shein has begun extending its resale platform to France, the United Kingdom and Germany. The platform will be expanded in phases. It is now available...

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User Experience Is Make-or-Break for Resale Platforms
User Experience Is Make-or-Break for Resale Platforms
May 31, 2024  |  Retail

For secondhand goods marketplaces to function, they need to attract sellers, and those who want to resell items care about more than whether there are...

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eBay and Rakuten Bet Resale Shoppers Will Flock to Japanese Fashion
eBay and Rakuten Bet Resale Shoppers Will Flock to Japanese Fashion
May 22, 2024  |  Retail

As consumers look for more affordable ways to get unique and/or high-quality apparel, eBay and Rakuten are testing to see if U.S. consumers will jump at the chance to buy secondhand Japanese fashion....

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High-Income Consumers’ Rising Secondhand Purchasing Drives Luxury Consignment Growth
High-Income Consumers’ Rising Secondhand Purchasing Drives Luxury Consignment Growth
May 07, 2024  |  Retail

With high-income shoppers disproportionately growing their adoption of secondhand retail channels, The RealReal is seeing its consignment business grow. The luxury resale online marketplace shared in its...

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ThredUp: Low Consumer Confidence Is Keeping Shoppers From Clothing Splurges
ThredUp: Low Consumer Confidence Is Keeping Shoppers From Clothing Splurges
May 06, 2024  |  Retail

As consumers continue to feel economic pressures constrain their budgets, ThredUp sees shoppers pull back on buying clothes — even lower-cost secondhand ones. On a call with...

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Vinted Solves Resale Profitability Problem by Spreading Its Income Sources
Vinted Solves Resale Profitability Problem by Spreading Its Income Sources
April 29, 2024  |  Retail

As resale marketplaces struggle to turn a profit, Vinted appears to have cracked the code, diversifying its platform to bring in revenue from as many parts of the experience...

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Financial Challenges Prompt Car Shoppers to Look to Secondhand Options
Financial Challenges Prompt Car Shoppers to Look to Secondhand Options
April 18, 2024  |  Transportation

Economic challenges or no, consumers still need to get where they are going, and many are now opting for secondhand sellers when buying vehicles, unable...

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