The Power of Recommerce: The Second Hand Online Economy

Have you ever needed to find a specific item from your childhood?  A limited-edition novelty that you just missed out on? A one of a kind collector’s item? If you have ever found yourself in this position then you have probably frantically rushed to eBay to search listing upon listing for your treasured keepsake. 

This phenomenon has swept across America and has allowed this ecommerce giant to rename the game to recommerce and create a whole new market for items that were once relegated to flea markets and garage sales. eBay estimates that the average American household has at least 36 items in their household that are worth more than $3,500. This estimation has allowed them to create a niche market of untraditional sellers in 2020 alone. 

eBay provided a haven for furloughed workers during the pandemic to take control of their lives and earn extra income to help sustain themselves during months that they were uncertain of where their income was coming from. The ability to provide a space for ordinary people to become sellers offered a priceless experience and exponential growth for the platform. 

eBay also aids in the quest for sustainability. By fostering the spirit of second hand, the recommerce revolutionary contributes to the global effort to lessen our carbon footprint. This commitment to a greener future not only allows for consumers to do something positive, but it also makes purchases meaningful again. 

The continual commitment to accessibility and sustainability has allowed eBay to maintain positive growth even in a period of economic uncertainty. 81% of people in generation Z have said that buying pre-owned goods have become more and more common in past years. This means that society is normalizing the sale of second hand goods. 

All in all, 2020 has been a pivotal year for everyone, but eBay has made phenomenal gains and moves that have shown their commitment to not only their buyers but their sellers and the world that we all live in.  These three things have founded their positive gain, and will continue to be a driving force in their future.