|ReCommerce Marketplaces are growing 20 times faster than the broader retail market. eBay, TOP100 winner “Sustainable Marketplaces operating in Europe” is, in terms of ReCommerce, the largest seller of used, second-hand, refurbished and repurposed items.
|Brussels, 15 December 2022. Low price and sustainability appear to be two primary driving factors based on feedback from global companies in the flourishing ReCommerce sector. ReCommerce is the selling of previously owned items through online C2C marketplaces to buyers who reuse, refurbish, recycle or resell them. 93% consumers say 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 ReCommerce. The study was carried out by CBCommerce with support from Checkout.com, FedEx Express, Lengow, nShift and Payoneer.
In 2021, the EU ReCommerce market was valued at €75B. The market is expected to grow to €120B by 2025 (+60%). Over the next five years, the ReCommerce market share will grow from 10% to 14%.
The relatively new term ‘ReCommerce’ 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 secondhand goods, ReCommerce Marketplaces are sequestering unproductive business models and inventing the circular economy whereby unused or second-hand products are sold back, refurbished, or recycled. From fashion, home furniture, DIY, books, cars to consumer electronics, ReCommerce solutions, such as repair, remanufacture, rental services, reconditioning, refurbishing and resale, are rewriting the story in the traditional linear retail industry. Related ‘Ecological ReCommerce’ focuses on collecting used items for the sole purpose of repairing or recycling and reselling the reconditioned products.
#1 eBay and the Circular Economy – A continued look at advancing sustainability through ReCommerce. Selling second-hand, refurbished, and repurposed items is a vibrant and important part of the eBay seller ecosystem in the EU.
Best ReCommerce Consumer Electronics Top100 MarketplacesA consumer advocacy organisation projected that EU consumers waste €45B each year from not being able to repair electronic products: smartphones accounted for approximately 12% of global electronic waste in 2021. From the consumer electronics online trade is resale 6% and refurbished 5%, counting for a ReCommerce total market share of 11%Back Market’s mission is to make refurbished electronics the first choice for tech purchases and that renewed electronics are “more affordable and better for the environment than new”. ReBuy is the leader in providing a marketplace for recycled consumer electronics and media content.
Best ReCommerce Fashion, Shoes & Luxury Top100 MarketplacesFashion ReCommerce is valued at €20B in 2021, expected to reach €37B within four years for a ReCommerce Resale market share (vs eCommerce) of 14.5% in 2021, reaching up to 21% in 2025.
Vinted’s growing community of more than 65M members is on a mission to make second-hand your first choice. On Vestiaire Collective, consumers buy and sell preloved designer fashion.
Best ReCommerce ‘Classified’ Mass Merchants (including used Cars) Top100 MarketplacesNearly half of online car trade is ReCommerce (on C2C Marketplaces like Autoscout24, Lacentrale.fr and Mobile.de), with an emerging trend of reconditioning services. Gumtree baseline is in line with the ReCommerce paradigm: “Circularity is our business model. We have been doing this since day one”
“I would like to thank our market research partners Checkout.com, FedEx Express, Lengow, nShift and Payoneer who, with our research team, put all their energy behind this eagerly awaited study. It makes sustainable marketplaces operating in Europe more transparent and stimulates a sustainability journey for this entire sector”, concludes Carine Moitier, the founder of CBCommerce.eu.