ReCommerce marketplaces are growing 20 times faster than the overall retail market and are expected to reach 120 billion euros by 2025, representing a 60% increase. ReCommerce sells pre-owned goods through physical or online distribution channels to buyers who can reuse, refurbish, recycle or resell them. With ReCommerce becoming increasingly popular, several marketplaces, such as Zalando, made such services available on their platforms.
Last year, the European ReCommerce market was valued at 75 billion euros, and according to Cross-Border Commerce Europe, this is just the beginning. Over the next two years, the ReCommerce market is forecasted to grow its market share from 10 to 14 percent. The accelerated growth of ReCommerce is also a result of inflation and economic instability. In a recent study, Cross-Border Commerce Europe found out that 93% of consumers say inflation impacts their decision to buy and sell pre-owned goods.
Today, eBay is the largest ReCommerce marketplace worldwide. With a legacy in e-Commerce, eBay has been reinventing the e-Commerce landscape since 1995. The marketplace has pioneered ReCommerce, enabling people to buy and sell pre-owned goods for generations.
According to the study carried out by Cross-Border Commerce Europe, consumer electronics have a market share of 11 percent in the ReCommerce market. Furthermore, the study reveals that almost half of the online car trade is ReCommerce.
The second most popular industry across the ReCommerce landscape is fashion. Recording a value of 20 billion euros in 2021 is expected to double over the next two years nearly. Its market share is forecasted to grow from 14.5 to 21 percent by 2025. In Europe, Vinted is the most significant fashion ReCommerce business, with a community of over 65 million members. Rubylane and Vestiaire Collective follow it.
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