Clothing is among the most popular things to sell.
Photo: Rawpixel Ltd
The rising cost of living is seeing New Zealanders increasingly choosing to buy and sell goods in the secondhand marketplace.
According to TradeMe’s latest report on the circular economy which surveyed 4000 people, 64 percent cite financial pressure as the reason for looking to buy and sell pre-loved items more often, up 4 percent on last year.
Younger generations are leading the trend, with 83 percent of those aged 24 to 39 having offloaded items in the last six months.
“The younger generations are the real power players in this space,” says Lisa Stewart, TradeMe head of marketplace.
“Many in that generation are not just selling their unwanted goods, but they’re looking at them as a side hustle and proactively hunting out things that they could upcycle to make some extra profit.”
Concern for the impact on the environment of buying new and a desire to recycle was also a big factor in younger people’s choice to buy and sell secondhand.
Time to clean out the garage?
The report suggests 75 percent of people have unused, unwanted items in their homes they could sell, which adds up to 76 million items ready for a new home.
Stewart said on average, each person has 19 items to sell, with an estimated value of $1300 per person. And when it comes to decluttering, clothing and home and living are the most popular items to sell.
“In terms of the things that are flying off our digital shelves, we’re seeing lots of demand for outdoor furniture this time of year, and also for fashion brands like Kowtow or Lululemon,” Stewart said.
“For many households, $1300 isn’t a small amount, it’s a flight to see family, a significant buffer against rising bills, or a kickstart for a savings goal.”
The report also points to conservative spending behaviour, with 56 percent saying the cost of living has directly led them to extend the life of their household goods through upcycling, repurposing, or restoring them.
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