First-hand vs Pre-loved (second-hand)
The “pre-loved” – sometimes known as the second-hand market – is on the rise. The stigma associated with buying used items is decreasing as consumers are increasingly environmentally conscious. Customers are conscious of value for money and happy to purchase certain items second-hand. The attraction of great products at affordable prices is part of an emerging upcycling and recycling trend.
Inside retail Asia mentioned in an article that buyers are searching for pieces that are either out of stock, from previous season collections, or from limited-edition releases, and are drawn to the wide selection of products and brands which may no longer be available in the first-hand market.
As the perception of pre-loved items changes, people are more receptive to exchanging second-hand gifts. A survey conducted by Accenture revealed that almost half of their respondents would consider gifting friends and family second-hand items.
But that’s not all. Younger consumers who love sustainability and are aware of the environmental issues prefer to go the pre-loved good route. Instead of throwing an item away or letting it collect dust, they would rather sell it to a second-hand retail store such as Cash Converters. “It’s about doing something good for the environment,” penned Tom Meyvis, a marketing professor at New York University’s Stern School of Business.
Whether you’re looking to sell or buy pre-loved items or looking for a loan – Cash Converters is your go-to destination.