What: Vinted's research reveals a significant shift towards second-hand gifting, driven by unique item discovery and budget consciousness among UK consumers.

Why it is important: The trend signals a fundamental transformation in retail, as major retailers from Harvey Nichols to John Lewis expand their second-hand offerings to meet growing consumer demand for sustainable and unique gift options.

Second-hand purchases are set to represent a substantial portion of UK Christmas gift sales in 2024, with Vinted's Recommerce Report projecting £2bn in pre-loved gifting expenditure, accounting for 10% of the total £20.5bn holiday market. The research reveals an overwhelming acceptance of this trend, with 84% of shoppers likely to allocate part of their festive budget to second-hand items. This shift is particularly pronounced among younger consumers, as 79% of those aged 25 to 34 have previously purchased pre-loved Christmas gifts. The motivation behind this trend is multifaceted, with 73% of shoppers citing the appeal of finding unique items and 71% emphasising high-quality discoveries. Economic considerations play a significant role, as 54% of consumers view second-hand shopping as a money-saving strategy, while 29% are motivated by environmental concerns. This evolution in consumer behaviour reflects a broader acceptance of pre-loved gifting, with 63% of shoppers now comfortable receiving second-hand presents.

IADS Notes: The surge in second-hand Christmas gifting reflects significant developments observed throughout 2024. In March 2024, ThredUp's analysis projected the global secondhand market would reach $350 billion by 2028, demonstrating the sector's remarkable growth potential. This expansion has prompted major retailers to adapt, with Harvey Nichols, John Lewis, and Galeries Lafayette strategically expanding their second-hand offerings. The trend aligns with broader shifts in UK consumer behaviour, where shoppers increasingly seek value while remaining price-conscious. Selfridges' commitment to achieving 45% of transactions from circular products by 2030  further underscores the industry's transformation towards sustainable retail practices.

Vinted estimates £2bn will be spent on second-hand gifts this Christmas