The global second-hand market is growing exponentially (see stats below) and impacting multiple demographics, with motivations for shopping ‘non-new’ varying across generations and socio-economic groups. The rate and pace of growth represent a massive opportunity for brands prepared to embrace the shift – and a huge risk for those that don’t.

Nostalgia has become, and will continue to be, a key consumer product sales driver in the 2020s, especially amongst younger demographics. This has massively supported the global boom in second-hand sales, and there are plenty of ways to feed the appetite for vintage and vintage-look products – from buying back your own archive or other pre-loved stock to meet demand for the latest retro style, to archive mining for product relaunches.

Financial motivation is key to both consumers on a budget, seeking true value for money from their purchases, and more affluent shoppers who enjoy the dopamine hit of striking a deal. Addressing budgetary pressure points via surplus stock and tapping into the thrill of auction-style bidding are amongst the ways in which brands can learn from the booming second-hand economy to engage both cash-strapped and deal-hungry shoppers.

Across age and socio-economic demographics, algorithm-driven sameness and brand blandness are driving consumers to second-hand to assert their sense of individuality, both in their wardrobes and at home. Seeking out unique items that embody their own personal style is the priority, presenting opportunities for brands to feed the appetite for one-offs, rarities and creative upcycling.

New legislation such as ESPR will force brands to think differently about existing product. This includes pre-loved goods, and the extra onus on brands to prioritise extending product life cycle positions resale as vital, rather than nice-to-have. The tools to do so and how to curate it have been stumbling blocks in the past, but the landscape is rapidly changing to make resale a viable and attractive commercial endeavour.

Growing numbers of consumers, especially Gen Z, are treating second-hand shopping as a social lifestyle activity. From Saturday morning markets and happenings to vintage vacationing further afield, it’s satisfying a growing appetite for real-life engagement with like-minded people – and there’s room for brands to get involved without looking inauthentic.