Shoppers in the UK plan to spend a total of £2.05bn on secondhand gifts over this festive season as pre-loved rises in popularity, according to new research from Vinted and Retail Economics.
Secondhand gift sales are expected to account for 10.2% of all UK Christmas gift sales which are set to reach £2.05bn.
The category is most popular with consumers aged 18-45, with 53% of those aged under 45 buying secondhand items once a month or more.
Of the shoppers surveyed, 84% said they are likely to spend some of their Christmas gift budget on pre-loved items.
Many shoppers have previously purchased secondhand products for Christmas, with 63% having bought pre-loved items at Christmas in the past. A further 63% are also comfortable receiving secondhand gifts.
A key driver in secondhand festive shopping is saving money, with 54% citing this as a benefit, and 29% saying they shop secondhand to lower environmental impact.
Consumers are also more comfortable buying pre-loved gifts across categories such as books, music items, and luxury products.
Vinted’s item verification service, which allows buyers to have pre-loved designer items checked for authenticity by experts means people can buy these products with enhanced confidence.
Vinted chief executive Adam Jay said: “We would really encourage people to think about giving secondhand items.
“Choosing to buy a pre-loved item from a platform like Vinted doesn’t diminish the spirit of giving, and a thoughtful secondhand item can be wonderful to receive.”
Retail Economics chief executive Richard Lim added: “With secondhand shopping continuing to increase in popularity, we expect to see further growth in sales across multiple categories as consumers continue to reap the benefits.
“The cost-of-living crisis, environmental concerns, and the increase in accessibility of pre-loved items are all contributing to its growth, and consumers are likely to continue embracing this space into 2025.”
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