OfferUp’s 2021 Guide To Buying & Selling On Resale Apps Reveals Supply Chain Shortages Are Fueling A Surge In Resale Interest
– 2 in 5 Americans turned to resale marketplaces in 2021 to find items in short supply at retailers, and 56 percent plan to shop resale in 2022 due to product shortage forecasts
– 82 percent of shoppers on resale apps are looking for new items, and more than one-third of all items on OfferUp are listed as “new”
– 1 in 4 Americans plan to shop resale for holiday gifts, with Pokémon cards and Squishmallows topping the list for the most in-demand toys on OfferUp
OfferUp, the largest mobile marketplace in the U.S. for local buyers and sellers, released its 2021 Guide to Buying & Selling On Resale Apps. The guide uses survey, sales, and search data from the OfferUp community to reveal 2021’s most notable resale and holiday trends, tips for buying and selling on resale marketplaces, and resale projections for 2022. In addition, the collective data provides insights into how supply chain shortages are shaping American shopping habits and fueling the accelerated growth of resale marketplaces, including OfferUp.
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Resale Grows Stronger as Retail Shortages Make It Harder For Buyers
As the pandemic disrupted America’s supply chain, items such as electronics, furniture, and cars became increasingly more expensive and hard to find. As a result, many shoppers turned to resale marketplaces to find what they needed. According to OfferUp’s research, nearly 40 percent of shoppers turned to resale marketplaces this year to find items in short supply at retailers. OfferUp’s most-searched-for items of 2021 are a direct reflection of this trend, with popular items like the PlayStation® 5, Honda Civic, Chevrolet Silverado, couches and dressers topping the list of the most in-demand items on the marketplace this year.
Inventory issues and shipping delays also have shoppers bracing for a tough holiday season. OfferUp data shows searches for holiday gifts began to increase on the marketplace in August, as shoppers sought an earlier start this year. OfferUp’s survey also found that a quarter of shoppers plan to use resale marketplaces to purchase some of this year’s most sought-after holiday gifts, including Peloton, Pokemon cards, Yeezy shoes, Crocs, Squishmallows, and Funko Pop! figures.
“The pandemic-fueled resale boom shows that Americans embrace innovation, especially when it comes to finding value. Even in the face of a global supply chain crisis, Americans are determined to find the items they need, and the resale economy has proven to be their answer,” said Natalie Angelillo, Vice President of Community at OfferUp. “With resale, consumers are not forced to rely on retailers to find what they need. With local marketplaces, they are at the heart of the experience, and now that they have the reins, this boom is here to stay.”
Next year, resale will remain a solution for most shoppers who cannot find items at traditional retailers, with 56 percent of shoppers planning to shop resale in 2022 due to product shortage forecasts.
Value and Savings Remain Americans’ Number One Motivator To Shop Resale
While there are various reasons people choose to shop resale, OfferUp buyers consistently list access to value and savings as their primary motivators. In 2021, buyers on OfferUp self-reported savings between $101 – $300. Some shoppers reported even more significant savings, with nearly 20 percent saving between $301 – $500 and 1 in 10 saving over $1,000. On the flip side, the majority of sellers on OfferUp reported making between $101 – $300, and 20 percent made over $500 this year.
Beyond the allure of savings, buyers note the ability to bargain and negotiate as the second most motivating factor to shop on resale marketplace apps. Convenience and the ability to find unique, rare or limited edition items tied for third.
Contrary to popular belief, resale isn’t just for secondhand goods. OfferUp’s survey found that eighty-two percent of shoppers on resale apps are looking for new items, and 34 percent of all items on OfferUp are listed as “new.” In addition to new items, OfferUp’s 56 million yearly users frequently post free items on the marketplace. Half of secondhand shoppers actively search for free items on resale marketplaces, with 10 percent of secondhand shoppers stating they “always” search for free items.
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Items Bought and Sold Through Resale Will Continue To Increase In 2022
According to OfferUp’s 2021 Recommerce Report, the resale market is on track to outpace retail in the next five years. The marketplace’s latest research further supports this finding, with secondhand shoppers saying they plan to buy or sell on resale marketplaces more than they did last year. Forty percent of shoppers plan to sell on resale marketplaces more than they did in 2021, and 1 in 3 will shop resale more than they did in 2021.
Specifically, in 2022:
- 1 in 2 will use resale marketplaces to declutter for the new year
- 44 percent will use resale marketplaces to redecorate or refurnish their home
- 1 in 5 will buy a car on a resale marketplace
- 80 percent will sell items on a resale marketplace, with most planning to sell household items (37 percent) and furniture (33 percent)
- 90 percent will purchase from a resale marketplace, with most planning to purchase electronics (39 percent) and furniture (38 percent)
This is OfferUp’s first Guide to Buying & Selling On Resale Apps and includes internal marketplace data of more than 56 million yearly users, a survey of 1,612 OfferUp users, and insights from OfferUp’s 2021 Recommerce Report.
