Gear Up for the Next Big Wave: The Secondhand Market

Have you noticed how products are lasting longer these days?

It's not just your imagination.

Across various industries, companies are producing items with more durable materials, superior manufacturing processes, and cutting-edge technology that ensure longevity.

And no, I’m not talking about those low-quality items you might find on discount marketplaces—especially the knock-off stuff that has given countries, like China and India, a bad reputation for throwaway products. I'm talking about real, high-quality goods made to withstand the test of time.

Take athletic shoes, for instance. Years ago, your favorite sneakers might have worn out after a year or two of regular use. Now, brands like Nike and Adidas use innovative materials like thermoplastic polyurethane (TPU) and flyknit fabrics.

TPU is incredibly resistant to wear and tear, while flyknit technology creates a single-piece upper that eliminates weak spots from stitched seams. That kind of durability keeps shoes in circulation much longer.

In fact, this growing durability trend is one of the reasons the athletic footwear market is projected to grow at a healthy 4.5% annually over the next few years.

It’s not just shoes either. Smartphones have undergone a similar transformation. Thanks to advancements like Gorilla Glass, the screens of modern smartphones are tougher than ever.

Newer versions, such as Gorilla Glass Victus, are twice as resistant to scratches and can survive drops from up to 2 meters on hard surfaces. That’s a far cry from the days when one drop meant a shattered screen.

In fact, by 2023, over 8 billion devices globally were using some form of Gorilla Glass. So when you see that smartphone listed as "used" online, it's probably still in great shape, and buyers know it.

(Sadly, batteries are still dragging their feet on this whole durability trend. And hey, I’m not throwing shade at Apple... well, not entirely) 

Another good example is car tires. Modern synthetic rubbers and silica-reinforced compounds make tires much more durable than they were a couple of decades ago. Today, tires can last up to 60,000 miles, compared to the 30,000-mile lifespan of those made in the 1990s.

With wear-resistant nanotechnology embedded into the rubber, tires are lasting longer while maintaining flexibility, making them a strong candidate for resale.

So, what does this mean for you as an online seller?

All of this durability is feeding directly into the secondhand market. People aren’t just throwing away products as quickly because they know these items still have life left in them.

The secondhand market has seen massive growth, especially in the last few years. In the UK alone, 44% of consumers reported buying more secondhand items than they did a year ago.

With the rise of platforms like eBay, ThredUp, and Facebook Marketplace, more consumers are open to purchasing pre-owned goods. And this trend is just getting started.

Now, if you're considering exploring this secondhand niche, you're not just tapping into a market of budget-conscious buyers. You're also aligning yourself with consumers who care about sustainability.

In today’s world, many buyers want to minimize their environmental footprint by purchasing durable, long-lasting products instead of contributing to the cycle of fast fashion and cheap, throwaway goods.

This is where the concept of "deinfluencing" comes into play—a trend where influencers encourage followers to buy fewer, but higher-quality, longer-lasting items. People are now looking for value, not just in price but in how long their purchases will last.

Selling secondhand items means tapping into the consumer desire for durable goods while offering them at a fraction of the price of new products.

Moreover, durable items that remain in good condition for resale help you build trust with your buyers. After all, customers are far more likely to purchase used products when they believe those items will continue to perform well.

On top of that, advancements in technology make it easier than ever to verify and maintain product quality in the resale market. For instance, AI and nanotechnology are being used to identify wear and tear in secondhand items, providing transparency for buyers and reducing the risk of returns.

This creates a win-win situation where buyers know they’re getting durable, high-quality goods, and you can confidently list items as still in excellent condition.

Another major factor driving the secondhand market is, of course, economic pressure. With inflation and rising living costs, many consumers are looking for ways to cut costs, and buying secondhand is an appealing option.

It's no surprise that 57% of consumers have maintained or increased their re-commerce shopping behavior in the past year. And it's not just clothing and gadgets—everything from outdoor gear to automotive parts is seeing increased interest in resale.

And here's the kicker: governments and regulators are getting involved too. In the European Union, for instance, new regulations like the Right to Repair initiative are pushing companies to create more durable, repairable products.

 This is great news for the secondhand market, as it ensures that high-quality, long-lasting goods will be available for resale for years to come.

Ultimately, as products continue to get more durable, the secondhand marketplace is becoming an attractive option for buyers and a lucrative niche for sellers.

Whether it’s long-lasting shoes, tough-as-nails smartphone screens, or durable car tires, the combination of improved materials, technology, and consumer demand is fueling this growing trend.

If you’re looking for the next big opportunity, now’s the time to start thinking about secondhand goods. The market is growing, and durable products are at the heart of it.

As Guy Elliott, Executive Vice President at Publicis Sapient, said, “Retail media networks are the biggest e-commerce profitability play for retailers in 2024.” And that includes the secondhand market.

Stay tuned for the next email with more expert tips to boost your online business