Parents Turn to Resale to Save Money and Help Local Economies as Financial Stress Levels Spike During Coronavirus, According to OfferUp's 2020 Recommerce Report
SEATTLE, April 30, 2020 /PRNewswire/ -- Today, OfferUp, the largest mobile marketplace in the U.S. for local buyers and sellers, released the findings from its 2020 Recommerce Report: Parents & Kids. The report, published in partnership with data analytics and consulting firm GlobalData, includes new market research and the results of two nationwide surveys of parents. It reveals new insights into how today's parents are shopping for Baby & Kids products, from furniture and clothes to essentials. It also takes a closer look at how the Coronavirus pandemic has impacted families across the U.S. and uncovers how parents are coping with increased financial and family stress.
Coronavirus is Proving to Be the Ultimate Stress Test for Parents
Yet despite increased financial concerns, the unique challenges parents are facing have resulted in additional spending.
Parents are Turning to Local Online Resellers to Save Money, Help Others
As people adjust to spending more time at home, search and engagement activity on OfferUp has increased significantly for products that help parents and children pass the time, entertain loved ones, and maintain their daily routines. This includes an increase in searches for puzzles (+1,100 percent), swimming pools (+450 percent), water tables (+370 percent), swing sets (+200 percent), and playgrounds (+160 percent).
Nationally, parents who have purchased items on local online resellers in the past month, 42 percent noted sustainability as the main reason. Meanwhile, 39 percent indicated it was to help support local economies, and 38 percent chose to shop resale because it is less expensive.
However, the desire to help others extends beyond shoppers engaging in recommerce. Universally, parents and neighbors are deeply invested in their community and are finding new ways to support each other during this time of crisis. Since the start of the Coronavirus pandemic, 39 percent of parents have donated or given away baby and kids products to another parent or family.
The Rise of Recommerce is Part of a Broader Shift in Where Parents are Shopping
Survey data also reveals that the rise of recommerce is part of a broader shift in where parents are shopping for Baby & Kids products year-round and signals an increased interest from parents to seek out and purchase secondhand products for their children.
Parents Show Stronger Connection Than Non-Parents to Sustainable Products and Recycling
However, one in ten parents admits to throwing away brand new, never-used items. OfferUp found that parents discarded more than 2.3 million new and gently used baby & kids items in 2019. If parents resold these items instead of throwing them away, they could have collectively earned more than $84 million.
View the entire 2020 OfferUp Recommerce Report: Parents & Kids here.
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