The second-hand economy is booming: its online trade is worth more than 7 billion euros

vespa

Up by 300 million euros in a year: these are the figures registered in 2016 by the second-hand economy: the economy of used goods traded online in Italy – a market worth 7.1 billion euros. The second-hand economy is worth 19 billion euros in total, which accounts for 1.1% of GDP, up by a billion euros compared to 2015.

15% of Italians buy or sell on the internet, and over a third of these transactions take place via electronic devices, online platforms or apps. Some people are looking for a good deal on a used car, others are looking for vintage clothing. Some people are looking for furniture, some for a video game or sports equipment. It’s a lucrative system: according to data from the 2016 Second Hand Economy Observatory carried out by Doxa, people who sell an item on the internet earn 900 euros on average.

The driving force behind much of the online buying and selling is the motoring sector: the online market in used cars and motorbikes is worth 5 billion euros per year. Household and personal objects are in second place with 984 million euros worth of business, the electronics sector is third with 647 million, while sport and hobbies generate 465 million euros worth of ‘DIY’ commerce per year.