EU's re-commerce market projected to grow to €120 bn by 2025

15 Dec '22

2 min read

Pic: Shutterstock/ maicasaa

The European Union’s (EU) re-commerce market is expected to grow to €120 billion by 2025 (+60 per cent), as per a recent study. Over the next five years, the market share will grow from 10 per cent to 14 per cent. Re-commerce is the selling of previously owned items through online C2C marketplaces to buyers who reuse, refurbish, recycle, or resell them.

In 2021, the EU re-commerce market was valued at €75 billion. Low price and sustainability appear to be two primary driving factors based on feedback from global companies in the flourishing re-commerce sector, according to a study carried out by Cross-Border Commerce (CBCommerce) with support from Checkout.com, FedEx Express, Lengow, nShift and Payoneer.

Ninety-three per cent of consumers surveyed said that inflation impacts their decision to buy and sell pre-owned goods with an increasing emphasis on making and saving money, thus accelerating the growth of re-commerce.

The relatively new term ‘re-commerce’ broke in the preserving retail business where unrecycled goods and landfilled waste wreak havoc on the environment. Taking the concept of the monetary value in pre-owned or second-hand goods, re-commerce marketplaces are sequestering unproductive business models and inventing the circular economy whereby unused or second-hand products are sold back, refurbished, or recycled

Related ‘ecological re-commerce’ focuses on collecting used items for the sole purpose of repairing or recycling and reselling the reconditioned products.

Fibre2Fashion News Desk (NB)

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