A recent survey conducted by Trade Me Marketplace has revealed that the second-hand market experienced a notable increase in value over the past year. The market grew by approximately half a billion dollars, with an estimated 81 million items sold.
The survey, which involved 4,000 consumers, has also indicated that second-hand sales contributed to the $5.5 billion expansion of the circular economy.
“This is Trade Me’s sixth annual report, and each year we continue to see an upward trend, with 89% of respondents having bought something second-hand in the past six months, marking the highest level since we first started tracking,” Trade Me director of Sales, Marketing, and Support, Sally Feinson, said.
“Our latest research shows there’s no slowing down the growth of New Zealand’s circular economy with the average Kiwi having around $1350 worth of unwanted possessions they could sell—$50 more than last year.”
The survey highlights that certain categories continue to dominate the second-hand market. Clothing, shoes, and accessories, along with home and living items and media such as books, CDs, and DVDs, remain the most popular categories for sales.
79% of Trade Me’s survey respondents reported selling at least one preloved item in the past six months. The primary motivation for selling preloved items, as reported by the survey, was to create space, followed closely by the desire to earn extra money.
On the purchasing side, the survey revealed that the primary reason for buying second-hand items was to save money (71%).
25% said they wanted to be more environmentally friendly, while 17% said buying quality was a factor influencing second-hand purchases.
The survey has also revealed a notable gender difference in second-hand purchasing habits. Women were more inclined to buy second-hand items, with 91% having made a purchase in the past six months. In contrast, 85% of men reported making a similar purchase during the same period.
Generation Z, or those born between 1997 and 2013, emerged as the most enthusiastic bargain hunters in the second-hand market, as 94% of them reported purchasing at least one second-hand item in the past six months.
In terms of regions, Marlborough and Southland emerged as the most active second-hand shoppers, with an impressive 97% of residents in these areas having purchased a second-hand item in the past six months. Taranaki followed closely, with 93% of its residents also engaging in second-hand shopping during the same period.