As soaring inflation is making it hard just to stay afloat, people are looking to spend less this holiday season.
According to a new survey of over 2,000 adults, it appears people are showing an increased willingness to buy and receive pre-owned holiday gifts this year amid soaring inflation, cost-of-living increases, and concerns around product retail availability.
Rising prices and economic uncertainty have made buying and selling pre-owned an appealing option.
There are so many apps for local buyers and sellers and people are turning to these new marketplaces for gift options.
The Stigma of Second-Hand Gifts Isn’t What It Used To Be!
According to the survey, the stigma associated with buying and selling pre-owned items is quickly dwindling as 3 in 4 people agree that it has become more socially acceptable to give pre-owned holiday gifts.
When compared to previous years:
- 82% of people are more open to receiving pre-owned holiday gifts
- 80% are purchasing fewer full-priced holiday gifts this holiday season
- 75% are more open to gifting pre-owned items
- 71% are purchasing more gifts on online resale platforms
Here are the main takeaways from this US-based survey:
- 78%, or 259 million Americans, are likely to buy pre-owned gifts this holiday season to avoid the rising cost of items at retail stores.
- 51% of Americans say inflation is a driving factor in their willingness to purchase pre-owned holiday gifts, followed by the need to find out-of-stock gifts (29%) and avoid shipping delays (27%).
- 86% of Americans are likely to price check a gift on online resale platforms before purchasing.
- Pre-owned gifts are losing their stigma overall, with 3 in 4 Americans agreeing it has become more socially acceptable to give pre-owned holiday gifts.