Americans Are Growing More Thrifty and Willing to Co
Pre-owned Goods as Economy Remains Weak
U.S. Online Demand for Second-Hand Products Sees Triple-Digit Annual Growth as Downturn Takes a Bite in Paych
Environmental Consciousness Heightens, According to Trade Data from Alibaba.com
January 18, 2010 07:43 AM Eastern Time
HONG KONG--(EON: Enhanced Online News)--U.S. entrepreneurs, apparently motivated by financial circumstances and consu
improve the environment by reducing waste, have sparked a surge in interest in sourcing second-hand goods last year, according to
Alibaba.com, the world’s largest business-to-business (B2B) online marketplace.
As the continued economic weakness has caused many people to reduce or outright refrain from spending, more consumers are ap
second-hand products to enjoy cost savings while responding to the growing trend of recycling. Shrewd entrepreneurs have taken a
changing consumer appetite by sourcing used products from around the world and reselling them in the U.S. market.
Searches for second-hand products by American B2B buyers on Alibaba.com in November of 2009 were 113 percent higher than
with the surge starting in mid-2009 through the fall of last year, a period that roughly corresponded with the anniversary of the start
and the time that U.S. employment was hitting 28-year record highs. Examples of popular pre-owned goods include boats, cars, go
laptops and clothes.
“Clearly, the downturn has prompted those looking for certain goods to consider pre-owned products as a way to cut spending, an
a portion of the increase in interest in second-hand products is driven by environmental appeals to cut waste and to recycle,” said S
president of Alibaba.com. “The procurement and sale of used products could become a growing line of business in the U.S. for yea
According to The National Association of Resale and Thrift Shops (NARTS), there are more than 25,000 resale, consignment and
U.S. and the number of stores have been increasing at approximately 5 percent annually