People are buying and selling on resale marketplaces more than ever this year. At OfferUp, we’ve seen new trends surface in 2020 as people turned to resale to create functional home offices, outfit their home gym, or buy hard-to-find items to keep themselves entertained (cue puzzles!) Others embraced decluttering and selling items they didn’t need to supplement their income during this challenging year.
With the busiest shopping season upon us, we surveyed OfferUp buyers and sellers to see how they are approaching holiday shopping and gifting during this most unusual year. Our results showed that secondhand shopping from home continues to be popular, with the majority (66%) of shoppers planning to shop for holiday gifts this year on OfferUp or a similar resale marketplace.
Value, Convenience &Nostalgia Are Driving Holiday Secondhand Purchases
According to our survey responses, the desire to save money is a primary motivator for resale purchases. Sixty-five percent of secondhand shoppers plan to purchase a holiday gift on OfferUp or a similar resale marketplace this year to save money and buy the things they want without having to spend as much as retail. In fact, 38.7% expect to save up to $300 by doing their holiday shopping on OfferUp and resale marketplaces.
Secondhand shoppers also value the ability to browse and shop online quickly and find items at a great price point, with 43% reporting convenience as the main reason they’ll be purchasing holiday gifts on resale marketplaces this year. Equally important (43%) is the ability to find rare or discontinued items.
The five most-searched collectibles on OfferUp this holiday season are:
- Pokemon cards
- Funko Pop! figurines
- Baseball cards
- Disney items
- Beanie Babies
Hard-to-find gifts, such as the PlayStation 5 and Nintendo Switch, are the second and tenth-most popular search terms in the same period.
Shopping local is also important to today’s secondhand consumer, with 34% of survey respondents indicating they are more likely to purchase from a resale marketplace over a physical store because they would rather support local sellers than big retail. 18% would rather socially distance; 17% feel they are more financially savvy than prior years and 16% are more financially strapped. Of shoppers planning to purchase gifts on resale marketplaces this year, 35% of people plan to spend between $101-$300, and 11% plan to spend more than $701.
However, shoppers are turning to resale for more than just gifts this year. Thirty-two percent of secondhand shoppers are more likely to purchase holiday décor on OfferUp or a resale marketplace compared to last year with women much more likely than men (40% vs. 25%). And since Oct. 1, OfferUp has seen a 2600% increase in searches for holiday gifts and decorations.
Turning to Resale to Make Cash For The Holidays
Nearly 4 in 10 (38%) secondhand shoppers say their holiday shopping budget has been negatively affected by the ongoing pandemic.
With decreased budgets, people are turning to resale marketplaces to earn extra cash to use towards holiday shopping. Sixty-eight percent of respondents plan to sell items on OfferUp or a resale marketplace this year as a way to earn extra cash to use towards holiday shopping, with women more inclined to do so than men (73% vs. 64%). Across the board, the most popular items to sell this holiday season are clothing (43%), furniture (33%), and electronics (32%). When it comes to clothing and shoes, the most popular brands of Air Jordan, Louis Vuitton, and Gucci are the three most-searched-for on OfferUp since October.
Of those planning to sell something, 38% expect to make between $101- $300 to put towards their holiday shopping by selling items they no longer need, while 8% expect to save more than $701.
Reduce, Reuse, Re-Gift
Sustainability is also top-of-mind for secondhand shoppers this holiday season. Forty-six percent of people say that buying something reused and environmentally sustainable is more important to them this year than buying something new and trendy (53.97%). But, women and men have differing priorities: men are more likely than women to prefer to buy something new and trendy (58% vs. 50%) whereas women are more interested than men in buying reused/more environmentally sustainable (50% vs. 42%).
Despite shoppers’ best efforts, not all gifts will hit the mark this year. Thirty-nine percent of people surveyed said they are most likely to sell a gift they receive if they are not interested in it and are most likely to use that money towards monthly expenses like rent (40%) and daily essentials (30%) like groceries.
Meanwhile, 17 percent plan to regift something that they are not interested in, with 31% surveyed saying they are more likely to regift this year than last year. Compared to last year, women are more likely to regift than men (37% vs. 26%).
Holiday gifts aren’t just for others this year. Fifty-eight percent of shoppers plan to purchase a gift for themselves on OfferUp or a resale marketplace. Tis the season to be kind to yourself!
Methodology
OfferUp’s 2020 Holiday Resale Shopping Report contains internal customer data from more than 20 million monthly buyers and sellers collected between October 1, 2020 and December 1, 2020, and results from a survey of OfferUp 1,397 community members conducted and completed between November 21 and December 1, 2020.
