The 11 most important consumer trends for an excellent customer journey

research and evidence
Verfasst von Jürgen Rösger

Autor: Jürgen Rösger

 

1. Direct-to-consumer sales are on the rise

Just as e-commerce sales have surged in recent years, so have direct-to-consumer (DTC) sales. DTC selling removes wholesalers and retailers from the customer contact process, saving brands money and providing greater convenience to the customer. Today, many consumers turn directly to a brand store to make purchases, rather than going to a retailer. Consumer interest in DTC purchases is growing.

2. Augmented reality improves customer experience & can increase sales

Augmented reality and virtual "try-before-you-buy" features can solve a massive customer problem: 51% of consumers say the biggest drawback to shopping online is not being able to touch, feel and try products. 35% say they would shop more online if they could virtually try a product before buying it.

Virtual "try-before-you-buy" features can improve the customer experience in the purchase decision-making phase and increase sales. 

OTTO, one of the biggest German online shops, has been working with AR since 2018. With their yourhome app, furniture can be virtually brought home and viewed in its designated location. This works by placing the virtual objects to scale and in real time in the room via smartphone or tablet camera.

L'Oréal is using AR-powered try-on experiences in several very different scenarios - from optimizing the online-only shopping experience to enhancing the experience in its stores. Read more here. 

L'Oréal's first AR makeup experiences, launched in 2019, doubled dwell time on the site and tripled conversion, according to Deloitte.

3. Voice commerce becomes the starting point for purchases

Convenient shopping experiences are becoming increasingly important to consumers. Voice shopping can be particularly convenient. In fact, consumers are increasingly using their voice to shop: Devices such as the Amazon Echo and Google Assistant are already often the starting point for purchases. The voice commerce market is expected to be worth $ 40 billion in 2022. Major players such as Walmart and Apple are already cooperating to enable convenient voice shopping.

4. Purchasing decisions are increasingly based on reviews

Reviews are increasingly influencing purchase decisions: 89% of consumers worldwide read reviews before buying a product. More than half read at least 6 reviews before buying a product. People who interacted with online reviews in November 2020 had a 25% higher conversion rate than they did in 2019.

Average consumers need a rating of 3.6 to 5 stars to decide to make a purchase. They find, read and write reviews primarily via Google. This includes reviews about local businesses, which are often first discovered through ratings.

5. Consumers demand control over their data

Consumers want more control over their data. This has an impact on their purchasing behavior. More than half of the consumers trust a company more if it does not ask for information that is irrelevant to the product purchase. In addition, 87% of North Americans said they would not do business with a company if they had concerns about its data practices.

6. Digital wallets and biometric payments are on the rise

Contactless payments are becoming the norm. Yet many consumers prefer biometric authentication options because it's easy, convenient and secure. 65% of consumers already use biometric authentication on mobile devices. 56% of consumers would rather use a biometric sensor on their payment card than a PIN. 

In addition, digital wallets can help alleviate concerns about privacy and fraud during the payment process for online purchases: 2/3 of consumers feel more comfortable making online payments via digital wallets than traditional methods.

The increasing adoption of proximity mobile payments (PMP) could further boost the penetration of digital wallets. PMP also allows customers to pay in stores with their mobile device.

7. "Buy Now, Pay Later" is becoming more popular

The interest and demand for "Buy Now, Pay Later" (BNPL) options has grown dramatically around the globe in the recent years. BNPL allows consumers to make a purchase and pay for it in interest-free installments. 

Users are able to avoid a credit check as well as credit card interest and can make purchases they couldn’t otherwise. Millenials and Gen Z are particularly attracted to this. Merchants are responding to the demand with corresponding offers. Government agencies are trying to regulate the BNPL industry, as many people are falling behind on payments.

8. Hyperlocal deliveries flourish

Consumers are increasingly buying goods from their local area. Hyperlocal deliveries are in vogue. Providers are mostly physical retailers with delivery or omnichannel services. Speed is of essence here: 41% of consumers say they are prepared to pay more for same-day delivery.

9. Brands try to win back the loyalty of consumers

Brand loyalty has plummeted as a result of the pandemic. Many people have changed their thinking, preferences and buying behavior. Fast and flexible delivery options as well as corporate values and other ESG (environmental, social, governance) issues also impact brand loyalty today.

With customer loyalty programs and their optimization, companies are trying to convince their customers and increase their loyalty.

10. Sustainability becomes a top priority

The demand for sustainable products is on the rise. More than 80% of the consumers confirm that they are going to buy more environmentally friendly products in the next five years. 2/3 of consumers are willing to pay more for sustainable products. For example, 25% of Generation Z and 22% of Millennials are willing to spend up to 20% more.

11. Demand for second-hand goods is increasing

The demand for second-hand clothing, technology, furnishings is increasing. For example, the market for second-hand clothing in the U.S. is expected to double to approximately $ 218 billion by 2026. More than 40% of retail executives say resale will become an important part of their business in the next five years. 

Saving money is the top reason for second-hand purchases, but so is sustainability and avoiding supply chain issues.

Facts, figures and sources

1. Direct-to-consumer

  • Consumers spent $76.68 billion on DTC goods in 2019. (Statista)

  • About 2% of total CPG (consumer packaged goods) sales were e-commerce sales in 2017, now 6.6%. DTC sales are responsible for 40% of that growth. (Shopify)

  • Nearly 6 in 10 consumers made a DTC purchase in 2021. (diffusjon)

  • 65% plan to do so again in 2022. (diffusjon)

  • In 2019, only 59% regularly purchased directly from a brand. In 2022, that number will rise to 64%. (Insider Intelligence)

Case: Bombas
Bombas is a DTC sock and underwear brand that does 97% of its business online. (Glossy) After its appearance on Shark Tank, the company went from 500 transactions per day to 4,000 per day. There were so many orders that the brand had problems with its DTC online platform and lost $ 15,000 in just a few minutes. The brand deployed a better tech solution and saw 300% year-over-year growth. (Shopify)

Case: Solo Stove
Solo Brands is betting on the DTC future of retail. Its brands include Solo Stove, Chubbies, Isle, and Oru Kayak. 82% of its business is conducted directly through its website (ModernRetail). Solo Brands went public on the New York Stock Exchange in 2021 and reported annual sales of $ 400 million. (Marketwatch)














Sources:
Statista > https://www.statista.com/statistics/1109833/usa-d2c-ecommerce-sales/
Shopify > https://www.shopify.com/plus/guides/direct-to-consumer-guide
diffusjon > https://diffusionpr.com/us/back-to-basics-diffusions-2022-direct-to-consumer-purchase-intent-index/
Insider Intelligence > https://www.insiderintelligence.com/content/sizing-up-global-d2c-opportunity
Bombas > Glossy > https://www.glossy.co/fashion/how-bombas-expanded-its-gifting-options-for-a-remote-holiday/
Bombas > shopify > https://www.shopify.com/plus/customers/bombas
Solo Brands > Modern Retail > https://www.modernretail.co/retailers/dtc-briefing-solo-stove-makes-an-opportunistic-pivot-after-a-year-of-explosive-growth/
Solo Brands > Marketwatch > https://www.marketwatch.com/story/solo-brands-expects-q4-and-full-year-sales-to-exceed-expectations-2022-01-10?mod=mw_quote_news

2. Augmented reality

  • 51% of consumers said that the biggest drawback of online shopping is not being able to touch, feel and try products. (BrizFeel, Survey 30,000 people)

  • 35% say they would shop online more if they could virtually try a product before buying. (BigCommerce)

  • Ulta's virtual try-on tool GLAMlab has seen a 7-fold increase in users since the pandemic began. (BigCommerce)


Case L’Oréal
L'Oréal's virtual makeup experience, launched in 2019, has doubled dwell time on the site and tripled conversion rates. (Deloitte)

Case Kohl’s
Kohl's (clothing, shoes, furniture, etc.) announced a partnership with Snapchat that will allow the retailer to offer a virtual closet experience via app. Snapchat says its daily active users interact with AR content nearly 30 times per day. (Kohl's)

Shopify recently released data showing that products with interactive AR content have a 94% higher conversion rate than products without AR. In March 2021, the platform added integrated support for AR and 3D models. (Harvard Business)


Sources:
BigCommerce > https://www.bigcommerce.com/articles/ecommerce/ecommerce-trends/#14-ecommerce-trends-leading-the-way
BrizFeel > https://brizfeel.com/consumer-online-retail-shopping-behavior/
Deloitte > https://www2.deloitte.com/us/en/insights/topics/emerging-technologies/augmented-shopping-3d-technology-retail.html/#endnote-12
Kohl’s > https://corporate.kohls.com/news/archive-/2020/august/reimagining-the-digital-shopping-experience-with-snapchat
Harvard Business Review > https://hbr.org/2020/10/how-ar-is-redefining-retail-in-the-pandemic

3. Voice commerce

  • 83% of consumers place more value on convenience when shopping today than they did 5 years ago. (National Retail Federation)

  • Devices like the Amazon Echo and Google Assistant are often the starting point for modern retail transactions. Consumers are increasingly using their voice to shop.

  • The expectation is that the voice commerce market will be worth $ 40 billion in 2022. (invesp)

  • Increased by 106% in 5 years are searches for "Echo Auto" which allows to install Alexa in cars. 

  • 62% of regular voice-controlled speaker users said they are likely to buy something through their device in the next month. (Brandminds, 2019)

  • Expectation: 38.5% of the US population will have used a voice assistant at least 1x per month in 2020. This number is likely to increase in the future. (Insider Intelligence)

  • 43% of smart speaker owners will use the technology to shop in 2020. (Review 42)

  • Major retailers like Walmart have partnered with Apple to enable Siri-enabled voice shopping on any Apple device.

Sources:
National Retail Federation > https://nrf.com/research/consumer-view-winter-2020
invesp > https://www.invespcro.com/blog/voice-shopping/
Brandminds > https://brandminds.live/how-voice-is-changing-customer-behaviour-and-the-way-you-do-marketing/
Insider Intelligence > https://www.insiderintelligence.com/content/voice-assistant-and-smart-speaker-users-2020
Review 42 > https://review42.com/resources/voice-search-stats/

4. Reviews

  • Searches for the "Trustpilot" rating portal have increased by 233% in the last 5 years.

  • 89% of consumers worldwide read reviews before buying a product. (oberlo)

  • More than half of users read at least 6 reviews before buying a product. This trend has increased since the beginning of the pandemic. (oberlo)

  • Reviews increasingly influence purchasing decisions: people who interacted with online reviews in November 2020 had a 25% higher conversion rate than in 2019. (Power Reviews)

Local businesses

  • 87% of consumers read online reviews for local businesses in 2020 (up 81% from 2019) - so the trend is not limited to e-commerce. (Brightlocal)

  • 21% of users say reviews play a big role in discovering local businesses. (Brightlocal)

Google

  • Consumers find and write reviews primarily via Google. (Podium)

  • 2% of respondents said they are most likely to turn to Google to read reviews. (Podium)

  • 38% of users need at least a 4-star rating to even contact a business. (Podium)

  • The average consumer requires a 3.6 out of 5 star rating to part with their money. (Podium)

Sources:
oberlo > https://www.oberlo.com/blog/online-review-statistics
Power Reviews > https://www.powerreviews.com/insights/market-trends-november-2020/
Brightlocal > https://www.brightlocal.com/research/local-consumer-review-survey/
Podium > https://view.highspot.com/viewer/5fa9e849659e9341abf17968

5. Data control

  • By 488% Google searches for "data privacy" have increased in the last 10 years (2013-23).

  • 56% of respondents want more control over their data, KPMG found in a survey of more than 1,000 consumers. (KPMG)

  • 87% of North Americans said they would not do business with a company if they had concerns about its data practices. (McKinsey)

  • More than half have more confidence in a company if it does not ask for information that is irrelevant to its product purchase. (McKinsey)

  • 82% of respondents felt there was an imbalance between security, convenience and fraud protection. (Paysafe)

  • 48% of U.S. consumers said they would be willing to accept tightening security protocols if it prevents fraud. (Paysafe)

  • Legislative action has increased: the General Data Protection Regulation (GDPR) has been in effect in the EU since 2018, proposed consumer data laws were introduced in 25 U.S. states and Puerto Rico in 2019 and California passed the California Consumer Privacy Act (CCPA) on January 1, 2020.

  • 90% of consumers believe governments and businesses have a responsibility to protect their data. 70% of consumers say they cannot trust companies to do so. (KPMG)

  • Companies respond: Apple announced that it will offer users a way to sign in to apps without sharing data with third parties. (Apple)

Sources:
McKinsey > https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/the-consumer-data-opportunity-and-the-privacy-imperative
KPMG > https://securityboulevard.com/2020/09/many-consumers-dont-trust-the-way-companies-are-using-their-data-and-businesses-need-to-change-that-perception/
Paysafe Survey > https://securityboulevard.com/2020/09/many-consumers-dont-trust-the-way-companies-are-using-their-data-and-businesses-need-to-change-that-perception/
Apple Privacy > https://techcrunch.com/2019/06/03/apple-sign-in-privacy/

6. Digital wallets & biometric payments

  • By 950% in 10 years, Google searches for "digital wallet" have increased.

  • 2/3 of consumers feel more comfortable making online payments via digital wallet than traditional payment methods. (RCE)

  • 56% would rather use a biometric sensor on their payment card than a PIN. (FintechFutures)

  • 65% already use biometric authentication methods on mobile devices. (FintechFutures)

Growth 

  • Already 44.5% of all e-commerce transactions in the U.S. are conducted via digital wallets. (Worldpay) 

  • 27% of all U.S. consumers said they would like to pay with their smartphone all the time. (Statista)

  • Nearly 50% of the world's population will use digital wallets by 2024. (Juniper Research)

  • Annual spending per digital wallet in the U.S. will increase from $ 3,350 in 2019 to $ 6,400 in 2024. (Juniper Research)

Proximity Mobile Payments

  • Apple Pay added 66 million new users globally between 10/2019 and 9/2020 for a total of over 500 million. By the end of 2020, 51% of all iPhone users had activated Apple Pay, up from just 48% in 2019. (nfcw)

  • 81% of Chinese cell phone owners made a proximity payment in 2019, compared to just 29% in the US. (Statista)

  • Payment service providers such as Venmo and Square's cash app are growing faster than the "Zelle" payment app developed by major banks. (Howarth)

Sources:
Fintechfutures > https://www.fintechfutures.com/2020/04/people-power-tracking-demand-for-biometrics-in-payments/
RCE > https://www.retailcustomerexperience.com/articles/frictionless-payments-should-customers-trade-security-for-convenience-2/
Worldpay > https://worldpay.globalpaymentsreport.com/en
Statista > https://www.statista.com/topics/982/mobile-payments/
Juniper Research > https://www.juniperresearch.com/press/half-worlds-population-to-use-digital-wallets-2024?ch=mobile%20wallets
nfcw > https://www.nfcw.com/2020/11/12/369134/more-than-500m-iphone-users-have-now-activated-apple-pay/
Statista > https://www.statista.com/topics/982/mobile-payments/#editorsPicks
Howarth > https://explodingtopics.com/blog/consumer-trends

7. Buy now, pay later

  • In 2021, BNPL accounted for 9% of e-commerce transactions, by 2026 data suggests it will account for 25%. (Juniper Research)

  • In China, BNPL could account for $58 billions of total e-commerce sales within just three years, according to experts. (Bloomberg)

  • In Australia, AUD 900 million are already flowing through BNPL options, representing 55% growth between 2019 and 2020. (S&P Global)

  • In Europe, the BNPL industry is growing at an annual rate of 54.7%. It is particularly popular in the United Kingdom. (GlobeNewswire)

  • More than 40% of BNPL customers in 2020 were Millennials, and this generation is expected to continue to make up the largest share of users through 2025. (Insider Intelligence)

  • 44% of Generation Z will use BNPL by the end of 2022, according to the forecast. (Insider Intelligence)

  • 65% of merchants plan to offer BNPL options in 2022. (Global Payments).

  • More than 1/3 of users have defaulted on one or more payments, leading to a decline in credit scores for many. (Credit Karma)

  • 43% of Generation Z have missed a payment in the past year. (Piplsay)

Sources:
Juniper Research > https://www.juniperresearch.com/researchstore/fintech-payments/buy-now-pay-later-research-report?utm_source=juniper_pr&utm_campaign=pr1_buynowpaylater_financial_fintech_jun21&utm_medium=email
Bloomberg > https://www.bloomberg.com/professional/blog/buy-now-pay-later-11-3-trillion-opportunity-in-china-u-s-just-beginning/
S&P Global > https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/next-in-australia-s-buy-now-pay-later-frenzy-consolidation-69369711
GlobeNewswire > https://www.globenewswire.com/news-release/2022/02/21/2388448/0/en/Europe-Buy-Now-Pay-Later-Market-Report-2022-Fintech-Startups-are-Entering-the-BNPL-Market-with-Niche-Product-Offerings.html
Insider Intelligence > https://www.insiderintelligence.com/content/almost-75-of-bnpl-users-us-gen-z-millennials
Commerce and Payments Trend Report 2022 von Global Payments > https://docs.globalpaymentsinc.com/v/2022-commerce-and-payment-trends-report-en
Credit Karma > https://www.creditkarma.com/about/commentary/buy-now-pay-later-surges-throughout-pandemic-consumers-credit-takes-a-hit
Piplsay > https://piplsay.com/buy-now-pay-later-programs-how-interested-are-us-shoppers/?utm_source=email&utm_medium=mediamailer_organic&utm_campaign=quant_piplsayresearch&utm_term=buynowpaylater&utm_content=text_body

8. Hyperlocal deliveries

  • 41% of consumers say they are willing to pay more for same-day delivery. (Conveyco)

  • US$ 57.6 billion was the annual spend by consumers on on-demand shipping in 2020. (appinventive)

  • US$ 90.95 billion is expected to be reached by the grocery delivery market alone this year. (globenewswire)

Case goPuff
In addition to typical food delivery companies like Grubhub and Uber Eats, other startups are capitalizing on this consumer trend in their niches.

Philadelphia-based online convenience store goPuff delivers products such as over-the-counter medications, wellness products, baby food and alcohol. It picks them up at a local drugstore or grocery store and delivers them to customers within 30 minutes. The service is available in 500 cities across the U.S. (Techcrunch)

Sources:
Conveyco > https://www.conveyco.com/blog/delivery-statistics/
appinventiv > https://appinventiv.com/blog/on-demand-mobile-app-economy-statistics/
globenewswire > https://www.globenewswire.com/news-release/2019/04/16/1804428/0/en/Online-Food-Delivery-Market-to-Hit-161-74-Billion-by-2023-Global-and-Regional-US-UK-China-India-etc-Industry-Strategy-and-Statistic-Analysis-Adroit-Market-Research.html
Techcrunch > https://techcrunch.com/2020/10/08/gopuff-funding/

9. Brand loyalty 

  • 3/4 of consumers tried new shopping options during the pandemic. (McKinsey)

  • Nearly 40% abandoned brands they said they trusted in favor of new brands. (McKinsey)

  • 45% said their brand preferences had changed. (Ketchum)

  • 50% globally have completely redefined their personal goals and what is important to them in life. This is impacting their thoughts about brands and their shopping habits. (Accenture)

  • More than 70% expect brands to understand how their needs and goals are changing. (Accenture)

  • Nearly 60% say they will switch retailers if they don't get the fast and flexible delivery options they want. (Accenture)

  • 60% would switch brands to get a more sustainable product. (Accenture)

  • More than 80% would switch brands if the brand acted in a way against their values. (Businesswire)

  • In 2021, the average U.S. consumer was a member of nearly 17 loyalty programs and actively used seven of them. (Statista)

  • 80% of loyalty program managers in North America said they are likely or very likely to overhaul their programs in the next three years. (antavo)

Industry: Travel 
In the travel industry, brands have revamped their loyalty programs in response to the impact of the pandemic. (Howarth)
Airlines made it easier for their customers to achieve "elite" status in their programs. They also made it easier to earn points and extended the time limit for points to expire. United Airlines offers consumers 100,000 bonus points for enrolling in its loyalty program.
Marriott's Bonvoy program offers six tiers, each with coveted benefits. Members can use their points to bid on private concerts, VIP tickets to sports games and luxury tastings. The program is rated the second-best loyalty program for hotels.

Sources:
McKinsey > https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/emerging-consumer-trends-in-a-post-covid-19-world
Ketchum > https://www.ketchum.com/news/companies-face-brand-reckoning-as-covid-19-drives-shift-in-brand-preferences-for-nearly-1-in-2-americans/
Accenture > https://www.accenture.com/us-en/insights/strategy/reimagined-consumer-expectations
Businesswire > https://www.businesswire.com/news/home/20190318005174/en/Survey-Finds-B2B-Brands-are-Not-Prepared-for-Todays-High-Stakes-Issues
antavo > https://antavo.com/reports/north-america-customer-loyalty-report-2022/?utm_source=WiseMarketer&utm_medium=Article&utm_campaign=North%20America%20Customer%20Loyalty%20Report%202022&utm_term=&utm_content=
Statista > https://www.statista.com/statistics/1238880/membership-loyalty-programs-us-by-sector/
Howarth > https://explodingtopics.com/blog/consumer-trends

10. Sustainability

  • Search volume for "sustainable goods" has increased by 209% compared to 5 years ago.

  • Google searches for sustainable products have increased by more than 70% since 2016.

  • 85% of consumers worldwide have changed their purchasing behavior towards sustainability in the last five years. (Simon-Kucher & Partners)

  • More than 80% confirm that they will buy more environmentally friendly products in the next five years. (Accenture)

  • 2/3 are willing to pay more for sustainable products. (First Insights)

  • 25% of Generation Z and 22% of Millennials are willing to pay up to 20% more. (Statista)

  • In the UK, the market for ethical and sustainable products has grown fourfold in the last 20 years, reaching $43 billion. (The Guardian)

Packaging

  • Search volume for "sustainable packaging" has increased 309% in 5 years and continues to grow.

  • 55% of US consumers are very or extremely concerned about the environmental impact of product packaging. (McKinsey)

  • 77% said plastic was the worst type of packaging. (Business News Daily)

  • 66% think paper and cardboard is the best material for the environment. (Two Sides North America)


Case Allbirds
The search volume for "Allbirds" has increased more than 75% in the last 5 years. The fashion company clearly states its commitment to sustainability and focuses on using natural materials to make shoes – such as wool, sugar cane, and eucalyptus trees. 
In 2019 the brand went carbon neutral and in 2020 Allbirds began labeling each of its products with a carbon footprint. Their commitment to sustainability includes stating the carbon footprint of each product on its packaging.


Sources:
Simon-Kucher & Partners > https://www.businesswire.com/news/home/20211014005090/en/Recent-Study-Reveals-More-Than-a-Third-of-Global-Consumers-Are-Willing-to-Pay-More-for-Sustainability-as-Demand-Grows-for-Environmentally-Friendly-Alternatives
Accenture > https://newsroom.accenture.com/news/more-than-half-of-consumers-would-pay-more-for-sustainable-products-designed-to-be-reused-or-recycled-accenture-survey-finds.htm
First Insights > https://www.firstinsight.com/white-papers-posts/the-sustainability-disconnect-between-consumers-and-retail-executives
Statista > https://www.statista.com/statistics/936491/shoppers-who-would-pay-more-for-sustainable-products-by-generation-us/
The Guardian > https://www.theguardian.com/environment/2019/dec/30/uk-ethical-consumer-spending-hits-record-high-report-shows
McKinsey > https://www.mckinsey.com/industries/paper-forest-products-and-packaging/our-insights/sustainability-in-packaging-inside-the-minds-of-us-consumers
Business News Daily > https://www.businessnewsdaily.com/15087-consumers-want-sustainable-products.html
Two Sides North America >  https://twosidesna.org/documents/research/2020/packaging/US-Packaging-Preferences-2020.pdf

11. Second-hand demand

  • More than 40% of retail executives believe resale (recommerce) will become an important part of their business within the next five years. (Newsweek)

  • By 2021, half of consumers will be buying or selling second-hand products. (FreshPlaza)

  • 77% even said during the holiday season that they were likely to buy at least one second-hand item. (Mercari)

  • Saving money is the top reason for second-hand purchases, but also sustainability and avoiding supply chain issues. (eCommerce Bytes)

  • The secondhand apparel market is estimated to be worth $141 billion in 2023. By 2026, it will more than double to $218 billion, according to experts. (Statista)

  • 74% of consumers have bought or are open to buy secondhand clothing. (ThredUp)

  • 53% have bought second-hand clothing in the last 12 months. (ThredUp)

  • 41% look for second-hand clothing first when shopping. If we consider the shopping behavior of Generation Z and Millennials, this number even rises to 62%. (ThredUp)

  • 42% of sellers on Ebay offer used tech products, 28% used books and 28% used toys. (Ebay's 2021 Recommerce Report)

  • By 54%, the market for resale of home furnishings will grow in the next five years. That would mean the segment will grow 3.5x faster than retail. (Chairish 2021)

Case URBN
Retail group URBN, which owns Urban Outfitters, Free People, Anthropologie and other brands, responded to the trend toward second-hand goods by launching its own resale platform, Nuuly Thrift, in late 2021. It has more than 18,000 listings.

Case Chairish

Chairish is a vintage furniture website and offers resale furnishings from 10,000 sellers. The company has experienced "exponential growth" over the past two years, due to supply chain issues from manufacturers bringing new furniture to market. The brand saw its sales growth of 39% in 2020 and 54% in 2021. (Modern Retail)












Sources:
Newsweek > https://www.newsweek.com/2022/05/27/big-name-retailers-ramp-sales-secondhand-goods-demand-soars-1701477.html
FreshPlaza > https://www.freshplaza.com/asia/article/9422534/top-10-consumer-trends-for-2022/
Mercari > https://uploads-ssl.webflow.com/61ee41ad88001d7eae3b2752/624652127dc0e5b4a065d163_2021%20Mercari%20Secondhand%20Holiday%20Report.pdf
eCommerce Bytes > https://www.ecommercebytes.com/2022/04/06/why-consumers-buy-and-sell-used-goods-on-ebay/
Statista > https://www.statista.com/statistics/826162/apparel-resale-market-value-worldwide/
Thredup > https://www.thredup.com/resale/#size-and-impact
Ebay's 2021 Recommerce Report > https://www.ebayinc.com/impact/sustainable-commerce/recommerce-report/
Chairish > https://www.chairish.com/resale-report
Modern Retail > https://www.modernretail.co/retailers/we-only-take-the-best-items-chairish-co-founder-gregg-brockway-on-curating-an-international-luxury-furniture-resale-marketplace/


Titelbild: Conny Schneider via Unsplash

Jürgen Rösger https://www.linkedin.com/in/juergen-roesger-696868a/
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