As the festive season approaches, UK shoppers are increasingly turning to second-hand gifts, with a new report revealing that £2.05 billion will be spent on pre-loved presents this Christmas. According to research from Vinted and Retail Economics, 84% of UK consumers are planning to allocate a portion of their Christmas gift budget to second-hand items, highlighting a shift towards more sustainable and cost-effective gift-giving.
The findings indicate that second-hand gifts will account for over 10% of total UK Christmas gift sales, which are expected to reach £20.5 billion in 2024. This marks a growing trend in the popularity of pre-loved items, driven by younger consumers in particular. Among shoppers aged 18-45, 53% report buying second-hand items at least once a month, compared to 43% across all age groups.
While second-hand gifting is not entirely new, the research shows it is becoming increasingly mainstream. Nearly two-thirds (63%) of those who have bought second-hand gifts in the past have done so for Christmas, with the figure rising to 79% among consumers aged 25-34. Notably, 63% of shoppers are also comfortable receiving second-hand gifts, highlighting the shifting perception of pre-loved items.
Several factors are driving this trend, with the desire to save money and the appeal of finding rare or unique items at the forefront. Over 70% of shoppers say they would consider buying second-hand if they found a high-quality or unique gift, while 54% cite cost savings as a key reason for choosing pre-loved options. Environmental concerns also play a role, with 29% of consumers shopping second-hand to reduce their environmental impact.
Younger shoppers, particularly those aged 18-35, are more likely to enjoy the hunt for the perfect second-hand gift and appreciate the reduced environmental impact of shopping pre-loved. Older shoppers, on the other hand, are particularly drawn to second-hand gifts for nostalgic or sentimental reasons, with many seeking rare or unique items.
Luxury items and designer brands are also gaining popularity in the second-hand gift market. The report highlights that 62% of consumers are comfortable receiving second-hand luxury goods, with platforms like Vinted offering verification services to ensure authenticity. In addition, Vinted recently launched a new category for second-hand electronics, catering to growing consumer demand in this area.
Despite the growing popularity of second-hand gifting, some consumers still have reservations, particularly regarding product quality. However, Vinted’s latest Impact Report found that 84% of buyers on the platform believe the quality of second-hand items is equal to or better than new items, dispelling concerns about quality.
Adam Jay, CEO of Vinted Marketplace, encouraged shoppers to consider giving pre-loved items this festive season, saying, “Buying a second-hand gift doesn’t diminish the spirit of giving. It’s a thoughtful and sustainable choice that benefits both the planet and your wallet.”
Richard Lim, CEO of Retail Economics, added, “With the growing popularity of second-hand shopping, we expect to see continued growth in this space as consumers take advantage of the financial and environmental benefits. The cost-of-living crisis and increased accessibility to second-hand items are likely to drive this trend well into 2025.”