The second-hand product market is expected to grow by 127 percent in 2026
In parallel with the sustainable economy trend and the importance given to the correct use of resources, consumers’ interest in the second-hand sector has increased. This interest gained momentum as the Z generation became more involved in the economy.
It is possible to define a second-hand product as a product that has been used by someone else before and is offered to the market again. In particular, in parallel with the importance given to the sustainable economy trend and the correct use of resources, the interest of consumers in the second-hand sector has increased recently. This interest gained momentum, especially with the Z generation becoming more involved in the economy, and last year , 244 million consumers bought or sold second-hand products.
According to the researches, it is expected that the second hand market will grow by 127 percent until 2026 and reach 218 billion dollars . It is also estimated that 2022 will be the year of the fastest growth for the sector. The second hand sector is growing 11 times faster than traditional retail.