Gelisim News

Demand for second-hand shopping growing

Sustainable lifestyle has started to dominate all over the world, especially due to the decrease in natural resources. The fact that users can also access luxury goods in the second-hand market via online and rental platforms reveals new forms of consumption. While the concept of ownership leaves its place to value of use, the interest in brand-guaranteed second-hand products is also quite high.

Emphasizing that users' value structures have changed, Dr. Alpaslan Kelleci, the Faculty Member of Department of Business Administration, Faculty of Economics, Administrative and Social Sciences at Istanbul Gelisim University stated,‘’ In the past, it was not appreciated much to buy and use any used items or clothes from someone else. However, changing value structures both lead brands to make products with untimely designs and lead consumers to sustainability.’’

IN 2020, 33 MILLION CONSUMERS BOUGHT SECOND-HAND PRODUCTS FOR THE FIRST TIME

According to the researchs conducted by Resale Report in 2020; while 33 million consumers bought second-hand products for the first time in 2020, 76% of the participants also think that second-hand sales will grow in the coming years. Mentioning that the decrease in natural resources in the world makes it compulsory to become more conscious of consumption, Dr. Alpaslan Kelleci, the Faculty Member continued:

‘’ Increasing conscious consumption created a demand for reuse of second-hand products. The second-hand market extending from clothing to furniture and even to the electronics sector allowed business models to be updated according to consumer expectations, by adapting them with technological elements. Especially, in the second-hand product stores opened by the brands themselves, the fact that such products are guaranteed by them both assures the consumers and enables brands to be admitted more.’’

HIRE IT OR BUY IT

Today, due to the rise of online preloved and luxury rental platforms, besides the increasing demand for second-hand luxury goods, also interest in new forms of luxury consumption is increasing. Brands that have changed their business models are make their products open to accessible and sustainable consumption thanks to "pay-as-you-go and rentable luxury".