Preparing for the upcoming ‘golden quarter,’ sellers are discovering a shift in consumer preferences towards purchasing ‘pre-loved’ electronics, as revealed by new research from eBay Ads.
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The survey finds a strong interest among consumers in buying second-hand electronics, with two main factors driving this behavior.
Firstly, 31% of consumers express a higher likelihood of purchasing second-hand electronics this year to save money. Secondly, 28% of consumers plan to do so to align with sustainable shopping practices.
eBay Ads research finds this inclination is particularly pronounced among younger age groups.
Nearly half (47%) of 25-34 year olds and 38% of those aged 16-24 report an increased likelihood of buying second-hand or refurbished electronics as a means to save money.
Additionally, almost four in ten (38%) individuals between the ages of 16-34 express their intention to purchase second-hand electronics as part of their sustainable shopping efforts.
Data from eBay UK supports the growing demand for pre-loved tech, as searches for ‘refurbished’ within the electronics category witnessed a 130% surge in November 2022 compared to the previous month.
Black Friday Rules Purchases
Despite the expanding popularity of other shopping occasions, Black Friday still ranks high, with 23% of consumers indicating it is the ideal time to make technology purchases – particularly among younger shoppers.
For instance, 34% of 16-34 year olds designate Black Friday as their go-to moment for buying tech, with 27% already contemplating their purchases for this year’s sale.
For many consumers, Black Friday serves as a prime opportunity to fulfill their gadget shopping needs for the entire year. 36% of 16-34 year olds claim to conduct a significant portion of their electronics shopping during this event, as do 21% of all UK consumers.
Similarly, 37% of 25-34 year olds and 47% of 16-24 year olds respectively seek deals on Black Friday to secure discounts for their purchases.
This year, the electronics category is expected to witness a surge in demand. eBay Ads data found that last year on Black Friday, searches on eBay UK for ‘video games consoles’ and ‘desktop’ saw notable increases of over 115% and 80% respectively when compared to the corresponding day of the previous week.
“Black Friday garnered its reputation worldwide for being a time of year where consumers splash out on brand new tech for bargain prices,” said Upasana Gupta, GM, eBay Ads UK.
“Yet, as consumers seek value-based deals as well as the desire to shop sustainably, we’re seeing demand for refurbished and second-hand tech rising rapidly – particularly amongst younger consumers.
“This desire is only set to keep growing, and brands and sellers would do well to factor this growing shift into plans in the run-up to Black Friday, but also beyond.”
eBay Ads Research: Opportunity Beyond Black Friday
However, while Black Friday remains a significant shopping event on the retail calendar, eBay Ads research indicates that many shoppers extend their electronics purchases beyond this landmark day.
More than half (52%) of consumers state that they make their electronics purchases throughout the year, rather than solely relying on Black Friday.
Furthermore, the enduring impact of the cost of living crisis is evident. 31% of consumers reveal that the crisis has prompted them to buy more second-hand items throughout the year instead of waiting for sales events like Black Friday.
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