D. Petruzzi
Research expert covering Cosmetics, Personal Care, Health & Hygiene industries.
Resale market in France - statistics & facts
Upcycling or the purchase of second-hand goods aims at limiting the impact of consumption on the planet. While the former is rather unknown to the French and remains marginal, the latter is gradually gaining in popularity, and in 2020, more than two thirds of French people said they intended to buy more products from the resale market in the future.
Finally, traditional retailers are now seeking to take advantage of this market by selling second-hand or refurbished products in their shops - as is the case for Decathlon outlets - via dedicated corners or on their websites.
Growth factors in the resale market
The French second-hand goods market is flourishing, and several factors are contributing. This development can firstly be explained by the economic situation: in a deteriorated and uncertain economic context, consumers sometimes have to make budgetary choices that benefit second-hand goods. The evolution of consumption patterns also has repercussions: increasingly aware of ecological issues, some consumers are aspiring more and more to consume responsibly by favoring second-hand products. Finally, the shortening of the product life cycle means that objects associated with new technologies are increasingly obsolete, and quickly find their way onto resale platforms.A crisis that benefits market development
The coronavirus (COVID-19) pandemic seems to have further strengthened the weight of the resale market. On the one hand, buying refurbished or second-hand products online was an alternative for consumers during lockdown, when most shops, deemed non-essential by the authorities, were closed. On the other hand, the pressure on household purchasing power has favored the shift towards this market, to the detriment of existing one. Between February 2020 and February 2021, the demand for refurbished connected watches had increased by over 200 percent.Multiplication of market players
The sector's growth potential is attracting many players. Generalist online advertising sites, such as Leboncoin, or specialized ones, like Vinted or Vestiaire Collective, which have been developing for several years, are increasing the proportion of transactions carried out between private individuals to the detriment of professionals in the sector. These professionals also have to face e-commerce marketplaces, which are positioning themselves on the second-hand market. According to 2020 figures, the turnover of marketplaces and e-commerce websites amounted to 112.2 billion euros, compared with 30 billion ten years earlier.Finally, traditional retailers are now seeking to take advantage of this market by selling second-hand or refurbished products in their shops - as is the case for Decathlon outlets - via dedicated corners or on their websites.
