MediaMarktSaturn discusses how they are using their marketplace to respond to consumer demand for more second-hand and refurbished products
MediaMarktSaturn discusses about circular economy and how they are using their marketplace to respond to consumer demand for more second-hand and refurbished products
According to Mirakl’s survey of 9,000 consumers around the world, 53% of consumers want the option to purchase from vendors with sustainable business practices. Leading online marketplace for second-hand fashion Vinted now has more than 75 million registered users in 18 countries, with revenues up 65% in 2021 and 37% in the first nine months of 2022.
This strong shift in the consumer perception of second-hand items has driven a $180bn boom in the buying and selling of used products. Whether motivated to reduce the environmental impact of their purchases, or looking for lower prices for high-end models, consumers want to be part of the circular economy. They are looking to the retailers they trust to help them be more conscious consumers. The shift is also being further driven by the cost-of-living crisis, with shoppers increasingly looking for cheaper alternatives.
Retailers looking for a solution that enables them to respond to this customer demand are turning to the marketplace model to grow their product assortment in a way that is mindful of sustainability practices and drives profitability.
Join this webinar to take part in an interactive discussion with MediaMarktSaturn, Foxintelligence and Mirakl to hear more about: