Consumers are set to prioritise “pre-loved” electronics, with the younger generation leading the charge on the rising popularity of refurbished tech.
According to research conducted by eBay, almost half, 47 per cent, of 25–34-year-olds and 38 per cent of 16-24 year-olds report they are now more likely to buy second-hand or refurbished electronics. Having shown the value and environmental benefits of pre-loved fashion through its partnership with Love Island, eBay is asking Brits to consider refurbished items to extend the life cycle of tech already in circulation.
This follows eBay’s launch of its very own Refurbished Residency, showcasing its range of pre-loved products. The online retailer said this allows customers to learn how to extend the lifespan of everyday technology products.
The space occupies four floors of a central London townhouse with various products, including 4K TVs and state-of-the-art coffee machines.
Upasana Gupta, General Manager at eBay Ads, said: “Black Friday garnered its reputation worldwide for being a time of year where consumers splash out on brand new tech for bargain prices. Yet, as consumers seek value-based deals as well as the desire to shop sustainably, we are seeing demand for refurbished and second-hand tech rising rapidly particularly amongst younger consumers.”
Search data from ebay.co.uk highlights this growing demand for pre-loved tech, as searches for “refurbished” in the electronics category increased by around 130 per cent in November 2022 compared to the previous month.
The research also found that almost four in 10, 38 per cent, between the ages 16-34 are likely to buy second-hand electronics this year in an effort to try and shop sustainably. eBay also found that 23 per cent of consumers wait for Black Friday as the time to make their technology purchases, this percentage rises within the 16-34 year old demographic to 34 per cent.
“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,” said Gupta.
Head of Refurbished Technology at eBay UK, Mark Monte-Colombo, said that “when people think of refurbished items, they tend to think of just iPhones, laptops – however we want to show there is so much more available – from trending kitchen appliances to highly sought-after hair stylers and even drones.”
