Estimated at 7 billion euros in France, the second-hand market now encompasses all sectors - textiles, electronics, appliances, etc., and has become ingrained in the habits of French people of all generations. Over the past 12 months, more than 6 out of 10 French people have purchased at least one second-hand or refurbished item, marking a 3-point increase since July 2023 (the date of the last Sofinscope survey on the second-hand market), a trend expected to strengthen with the rise of second-hand sales platforms, the search for savings, and environmental awareness.
Second-hand now ingrained in the consumption habits of half of the french population
Over the past year, nearly one in two French people bought second-hand products (49%), and 39% purchased a refurbished product, a market experiencing strong growth (+10 points vs 2023). Despite slowing inflation, French people are keen to limit their spending. Second-hand goods represent a consumption alternative: 70% of French people state that they buy second-hand for economic reasons (+3 points), and the environmental argument is also highlighted by just over half of the respondents (56%).
French people sell an average of 13 products per year
In addition to the savings afforded by purchasing second-hand products, the second-hand market represents an interesting source of additional income for 52% of French people (+3 points vs 2023 and +22 points vs 2013). On average over the past 12 months, French people have sold 13 products, with nearly one in five French people (19%) stating that they sell more than 20 products per year. However, profits have decreased, with approximately 183 euros generated, a decrease of 39 euros compared to the previous year.
61% of french people compare new prices with second-hand when they wish to purchase a product
The appeal of second-hand goods strongly competes with the new market. Thus, 43% of French people consider only consuming second-hand products and forgoing new products. This figure is even more significant among those under 35, with 63% of them considering this option (compared to 37% among those over 35). Today, 65% of respondents prefer quality second-hand products over budget new items. At the same time, nearly 6 out of 10 French people state that they systematically check whether new products they are interested in are offered at a more advantageous price on the second-hand market. This even applies to three-quarters of young people under 35.
Majority of second-hand purchases are made online
The establishment of second-hand goods has led to the growth of multiple online platforms. Today, 68% of French people prefer digital solutions (+6 points), and 61% turn to flea markets, thrift stores, and other physical consignment shops, representing a decrease of 9 points compared to the previous Sofinscope. Websites and applications for selling second-hand products between individuals are mentioned by nearly 1 in 2 French people. This is certainly due to the diversity of products and brands they offer. Mono-brand second-hand platforms launched by brands remain largely marginal, with 13% of French people stating that they visit them. Finally, French people engage in bargain hunting, with half of them regularly consulting these applications without having a real need (48%).
More information:
Le Groupe Crédit Agricole Consumer Finance
www.ca-consumerfinance.com