UK second-hand market set to surge to £4.8b in 2025

The research also showed that about 66% of UK consumers bought pre-owned goods online in the past year, a share that’s likely to grow as more people seek cost-saving options and the second-hand market expands.

UK’s Vinted is worth nearly $6 billion in 2024

Some ‘used goods’ shoppers are motivated by sustainability, while others hope to be more frugal amid cost-of-living pressure. Sellers are also looking to profit from their wardrobes, growing the second-hand market.

Vinted, the largest online marketplace, held an estimated €5 billion, equating to about $5.8 billion in 2024. The Chief Executive Officer, Thomas Plantenga, even stated they are branching out into new categories such as phones, toys, gaming consoles, and possibly luxury watches, while also expanding their presence in more countries.

In an interview at the Web Summit in Lisbon, he commented, “We’re expanding into new countries and we’re expanding our categories. We’re taking a ton of risks. I want to play these bets out.”

He argued they’re aiming to build a marketplace larger than any existing online platform by systematically reducing all sources of friction and unnecessary costs.

A CEBR survey involving 10,000 European adults revealed that second-hand goods now represent between 34% and 45% of UK consumer expenditure in popular sectors including fashion, technology, and appliances. Not to mention, average monthly spending on pre-owned goods has climbed from £58.40 to £124.80 over the last five years.

Overall, the second-hand market includes refurbished products, unused “open-box” returns, and traditional used items..

Retailers like Zara and Amazon are venturing into second-hand clothes

Established retailers are also entering the second-hand space. Inditex SA, Zara’s parent company, has extended its resale platform to markets including the US, France, and Germany. Meanwhile, Amazon has expanded its “Amazon Second Chance” program, offering discounted returned items and pre-owned fashion from brands like Dior and Gucci.

Retail consultant and broadcaster Mary Portas even argued that staying static could cost brands cultural relevance and financial growth as consumers gravitate toward platforms that better align with the evolving marketplace. 

Globally, consumers are increasingly prioritizing cost savings by choosing used goods. In the US, the secondhand market is valued at over $50 billion, with users mostly thrifting at ThredUp, Poshmark, and Depop online marketplaces. 

Sustainability is also a driver for the younger shoppers, 42% of whom were open to second-hand apparel shopping on a global scale in 2021. Opting for second-hand rather than new clothing reduces carbon emissions by 25%, according to Kadence International. Fast fashion has even been criticized for contributing a tremendous amount of waste, water pollution, and carbon emissions.

Meanwhile, a growing number of consumers across income levels are planning their purchases around key sales events like Black Friday and Cyber Monday.

Further, according to a survey, two in three retail leaders anticipate that the trend toward frequent, low-value shopping trips will continue, as consumers are expected to continue to be budget-minded and focused on basic needs. In a separate analysis, nearly 60% of retail executives say that consumers will prioritize value and price over brand loyalty in the coming year.