Second Hand Economy Increases in Strength in the UAE
According to new data, in an endeavour to better mind their finances and diminish their effect on the environment, residents across the UAE are more and more looking to buy and sell second-hand items online.
The conclusion of a recent poll disclosed that from a thousand responders, 60% have been involved in the second-hand economy in the last six months, either through purchasing or selling, or both, a used item during the period.
The poll disclosed that used electronics at 32% were the most sold items in the second-hand market, succeeded by home and garden equipment at 25%, child and baby items at 9%, sport and outdoor items at 7%, fashion and beauty items at 7%, business and industrial supplies at 5%, and art, books, DVDs, toys and games at 4%.
When questioned about the primary reason behind selling used items, answerers stressed that a crucial motivator was the quick turnaround of cash, with 22% stating that they needed extra cash urgently, while 19% needed cash for upgrading their lifestyle. Other reasons for selling used items consisted of relocating at 17%, decluttering at 16%, and for wanting to extend the life of their items at 16%.
The poll disclosed that used electronics at 39% were the most acquired items in the second-hand market, and it was followed by home and garden equipment at 33%, sport and outdoor items at 6%, child and baby items at 5%, and fashion and beauty items at 3%. Around 53% of the answerer made these purchases to upgrade their lifestyle, while 17% intended to give the items a longer life, 14% bought the items to re-sell it at a profit, and 6% purchased it to treat their loved ones.
However, when all answerer were asked to evaluate how many unused items they have in their homes, 72% stated that they had 1 to 10 items, 13% mentioned 11 to 20, 4% stated 21 to 30, and 9% stated that they had over 30 items. Over 44% of poll responders bought a used item in the past six months.