The recommerce market is growing as eco-conscious consumers become more deliberate about what they buy and look for ways to reduce their consumption. Consumers are increasingly reusing, recycling, upcycling, and selling pre-loved goods. Resale sites like Thredup, Poshmark, Depop, and Rent The Runway provide access to preowned products at lower prices than new items and reduce consumerism. In addition, participants in eBay’s website buy and sell previously owned goods, allowing users to earn money while contributing to a longer product life cycle. The eBay Recommerce Report showed that 93% of buyer and seller respondents stated that sustainability is a very or somewhat important factor in their decision to buy and sell on the website, in addition to pricing.
Conscious consumption is being driven by younger generations, with 62% of Gen Zers and Millennials preferring to buy from sustainable brands. Secondhand markets also allow them to minimize their consumption footprint and reinforce their social credentials.. According to a study by First Insight, a technology company specializing in consumer data, sustainability is an important factor for Gen Zers and Millennials when making purchasing decisions. These younger consumers are more likely to shop at sustainable brands and are increasingly turning to secondhand markets for apparel and footwear. This is partly due to the affordability of secondhand products, but also because it allows them to reduce their consumption footprint and reinforce their social credentials. By choosing to shop secondhand, they are contributing to a more sustainable fashion industry and reducing waste.