OfferUp® Recommerce
Report 2024
OfferUp®
Recommerce Report 2024
Since we launched our first Recommerce Report five years ago, we’ve been thrilled to witness first-hand the incredible growth and transformation within the industry. Each year, more Americans are embracing resale, shedding any past hesitations and discovering the joy that finding the perfect item at a reasonable price can bring.
As OfferUp’s CEO, I’m genuinely inspired by our sixth annual Recommerce Report’s findings, which reveal a surge in enjoyment, satisfaction, and pride associated with secondhand shopping and selling. While the historical benefits of convenience, cost savings, and sustainability remain significant, it’s heartening to see a remarkable shift in positive perceptions surrounding recommerce.
This year’s report shows that 53% of shoppers now find reselling to be an enjoyable experience, with 58% even preferring secondhand purchases over new ones. Additionally, 63% enjoy meeting in person for secondhand transactions and 51% have formed new friendships or meaningful connections through these experiences. These findings highlight not only a growing affection for pre-loved items but also the vibrant local communities being built around them.
At OfferUp, these insights resonate deeply with our mission, which has always been to create the simplest and most trustworthy platform for local buying and selling. It’s gratifying to see people discovering the pleasure in secondhand shopping within their communities—a satisfaction we’ve always known and celebrated. With this newfound enthusiasm associated with resale, it’s no surprise that the recommerce market is expected to grow 55% by 2029, reaching $291.6 billion and outpacing the overall retail market.
As the leading mobile marketplace for local buyers and sellers in the U.S., we’re excited to see the recommerce landscape evolve into a widely embraced practice, fostering camaraderie and pride among shoppers. My optimism for the long-term health and growth of this industry has never been stronger, and I eagerly anticipate the exciting developments the coming year will bring.
Todd Dunlap
CEO, OfferUp
Key Findings
Key Findings
of shoppers tried resale for the first time over the past year, marking an 8% increase in new shoppers compared to the previous year.
of shoppers believe the stigma around secondhand shopping has decreased, with 63% admiring those who prioritize secondhand items over new ones.
of shoppers consider secondhand shopping a fun and enjoyable hobby, and 58% find shopping secondhand more enjoyable than buying new.
growth is projected for the recommerce market by 2029, reaching $291.6 billion, with resale expected to account for 8% of total retail by that time.
Satisfaction
Excitement
Joy
Emotional Rewards of Secondhand Shopping:
Satisfaction
Excitement
Joy
Secondhand Delights: Unearthing the Unexpected
Secondhand Delights: Unearthing the Unexpected
find shopping secondhand more enjoyable than buying new
consistently uncover unique items and unexpected gems
routinely acquire sought-after pieces they couldn’t find or afford new
What’s more, over three-quarters (76%) have received compliments and praise for their secondhand discoveries, adding an extra dash of satisfaction and pride to the already joyful experience of embracing pre‑loved treasures.
What’s more, over three-quarters (76%) have received compliments and praise for their secondhand discoveries, adding an extra dash of satisfaction and pride to the already joyful experience of embracing pre‑loved treasures.
72% Believe the Stigma Around Secondhand Shopping Has Lessened
As societal values evolve and perceptions change, the charm of secondhand shopping continues to grow. With this shift, we see:
The change in perception is fueled by societal shifts, as 61% of shoppers believe the reason the stigma around secondhand shopping has decreased is due to changing attitudes toward consumption and waste.
72% Believe the Stigma Around Secondhand Shopping Has Lessened
As societal values evolve and perceptions change, the charm of secondhand shopping continues to grow. With this shift, we see:
The change in perception is fueled by societal shifts, as 61% of shoppers believe the reason the stigma around secondhand shopping has decreased is due to changing attitudes toward consumption and waste.
The Heart of Resale: Embracing Local Connections
The Heart of Resale: Embracing Local Connections
There’s magic in discovering unique treasures and great deals, but resale offers something even more profound—it fosters genuine connections within our communities.
of shoppers enjoy meeting in person for transactions
have made new friends or formed meaningful connections through these experiences
view resale as a way to meet new people and feel connected to their community
1 in 3 Shoppers Tried Resale for the First Time in the Past Year
1 in 3 Shoppers Tried Resale for the First Time in the Past Year
As stigma declines, the popularity of resale continues to surge, with more shoppers embracing the adventure and practicality of secondhand shopping. Over the past year, 35% of shoppers embarked on their first resale journey—an 8% year-over-year increase in new participants.
The reasons behind this surge in first-time resale shoppers include:
Quality Is a Big Draw for Secondhand Shoppers
Secondhand shopping isn’t just about saving money; quality is a big driver, too. About 35% of shoppers go for secondhand items to find well-made, long-lasting products, reflecting a shift away from disposable goods.
Quality Is a Big Draw for Secondhand Shoppers
Secondhand shopping isn’t just about saving money; quality is a big driver, too. About 35% of shoppers go for secondhand items to find well-made, long-lasting products, reflecting a shift away from disposable goods.
51% of shoppers think secondhand items are typically better quality than new items sold in stores today, especially in certain categories:
Shoppers see lots of perks when choosing pre-owned goods instead of new ones. They strongly agree that secondhand items:
Embracing Resale as a Path to Financial Empowerment
In uncertain times, resale emerges as a lifeline for people trying to stretch their budgets and earn extra money.
Resale’s impact on finances:
Embracing Resale as a Path to Financial Empowerment
In uncertain times, resale emerges as a lifeline for people trying to stretch their budgets and earn extra money.
Resale’s impact on finances:
1 in 4 shoppers used money earned for travel or vacation
1 in 4 shoppers put that money toward education or self‑improvement
1 in 3 shoppers used money earned to pay off debts
The Recommerce Market Is Projected to Grow 55% by 2029, Reaching $291.6 Billion
As resale solidifies its position within the retail landscape, more shoppers are actively participating in the secondhand market. Over the past year, a substantial majority of shoppers (84%) have made secondhand purchases, while two-thirds (67%) have engaged in selling pre-owned items.
In light of this, the recommerce market is expected to grow 55% by 2029, reaching an impressive $291.6 billion. This expansion is expected to outpace the overall retail market by 21%, with resale accounting for 8% of total retail by 2029.
76% of recommerce transactions involve non-clothing items like electronics, furniture, home goods, sports equipment, and car parts.*
*GlobalData 2024 Market Sizing and Growth Estimates
Shoppers turn to digital marketplaces
Further driving this growth is the flourishing digital landscape of resale, where online resale sites are rapidly becoming go-to destinations for shoppers in search of secondhand items.
of shoppers are active on three or more online resale sites
visit online resale sites at least once each week, with more than 1 in 4 (29%) visiting 5 times or more
of shoppers reported an increase in their time spent on resale sites in the past 12 months, and a significant portion (40%) are now spending at least an hour per day on them
The Recommerce Market Is Projected to Grow 55% by 2029, Reaching $291.6 Billion
As resale solidifies its position within the retail landscape, more shoppers are actively participating in the secondhand market. Over the past year, a substantial majority of shoppers (84%) have made secondhand purchases, while two-thirds (67%) have engaged in selling pre-owned items.
In light of this, the recommerce market is expected to grow 55% by 2029, reaching an impressive $291.6 billion. This expansion is expected to outpace the overall retail market by 21%, with resale accounting for 8% of total retail by 2029.
76% of recommerce transactions involve non-clothing items like electronics, furniture, home goods, sports equipment, and car parts.*
*GlobalData 2024 Market Sizing and Growth Estimates
Shoppers turn to digital marketplaces
Further driving this growth is the flourishing digital landscape of resale, where online resale sites are rapidly becoming go-to destinations for shoppers in search of secondhand items.
of shoppers are active on three or more online resale sites
visit online resale sites at least once each week, with more than 1 in 4 (29%) visiting 5 times or more
of shoppers reported an increase in their time spent on resale sites in the past 12 months, and a significant portion (40%) are now spending at least an hour per day on them
Methodology
Methodology
The OfferUp Recommerce Report includes research and data from retail analytics firm GlobalData. GlobalData uses consumer surveys, retailer tracking, official data, data sharing, store observation, and secondary sources to analyze, model, and calculate metrics, including market and channel size, and market share.
Online market research provider Pollfish conducted a July 2024 survey of 1,500 U.S. adults, asking specific questions about their recommerce buying and selling behaviors.
© OfferUp, Inc. 2024