7 in 10 Americans Are Turning to Resale As Inflation Shifts Their Shopping Habits
Shoppers are turning to resale as inflation shifts their shopping preferences and behaviors, according to FloorFound's recent sustainability survey. 600 people were surveyed about their thoughts on recommerce, and the top two reasons why shoppers embrace this trend is because of its value or sustainability.
Here are some other highlights revealed in the survey:
Here are some other highlights revealed in the survey:
1. The modern consumer is embracing resale as a cost-effective and eco-friendly way to buy goods. 76% of shoppers plan on buying used products within the next twelve months, with those under 30 especially enthusiastic: 84% have bought something secondhand in recent times while 87%.
2. The resale market for appliances and exercise equipment is on the rise, with one- fifth (19%) of shoppers planning to buy used or secondhand items within a year.
3. While Facebook Marketplace may be the go-to destination for consumers, skepticism is high, with only 27% rating descriptions as trustworthy.
4. The idea of resale is not new to many people. The majority of respondents (54%) under 30 are familiar with these models. This means there might be an opportunity for brands who offer them and reward their customers by doing so.
With 69% of Americans reporting a change in what they buy because prices have risen, it’s time for businesses across all industries - not just clothing retailers-to start thinking about how you can adapt your business model.
Download the full report to learn how your brand can capitalize on these trends.
Download the full report to learn how your brand can capitalize on these trends.