Bloomberg
With shoppers facing shortages and delays for a lot of what’s new, they’re turning increasingly to used pre-owned alternatives.
The market now is in a “truly unique period”
In Ireland, that’s causing used cars to sell for more than their initial purchase price.
Irish used-car prices are almost 50% higher than before the pandemic
The buyer of a Volkswagen Golf in Ireland, for example, could sell that car for an average of 15% more today than it was purchased a year ago — and that’s with an extra 20,000 kilometers (12,427 miles) on the odometer.
Prices in Ireland are particularly high because Brexit disrupted the regular flow of used cars from the U.K., and there are few alternatives for right-hand vehicles in Europe.
But the trend is playing out elsewhere as shoppers face shortages and delays for a lot of what’s new: The secondhand economy is going mainstream and it’s not just for the thrifty anymore.
In Germany, visitors of the largest classifieds platform — used mainly to sell used furniture and electronics — was up 20% in March from a year earlier, a spokesperson for eBay Kleinanzeigen said.
In the U.S., three in four consumers surveyed by e-commerce site Mercari said they will likely buy used items this holiday season.
That’s benefiting vintage shops like Miss Pixie’s Furnishings and Whatnot in Washington, where sales are up 30% in the past few weeks.
It’s not only the availability of digital platforms and consumers’ motives that have changed — selling stuff has become a financial necessity for many people.
A survey by eBay Inc. showed that almost three-quarters of respondents across the U.S., U.K., Canada, Germany and France started selling pre-owned goods last year as an extra income stream; 14% said that they specifically did so because they lost their jobs.
In addition, a report by eBay Kleinanzeigen in Germany said more than half of the people who recently bought secondhand goods cited cost savings as a key factor — especially for under 30-year-olds, who’ve been disproportionately affected by the crisis in Europe.
Buyer listings searching for used cars in Germany, for example, shot up by 25% this October from September 2020, eBay Kleinanzeigen said. Offers on such vehicles, meanwhile, declined by 25%. Manufacturers such as Volkswagen AG say it will take years before a shortage of semiconductors stops disrupting the production of new autos.
Experts expect strong demand for secondhand goods to persist even after the supply logjams subside.
Source: Bloomberg.com , 9/11/2021
Last Updated on 09.11.2021 by iskova
