Second hand: 61% of French people bought at least one second-hand or refurbished property in 2023
Estimated at 7 billion euros in France*, the second-hand market today concerns all sectors – textiles, telephony, household appliances, etc. – and is anchored in the habits of French people of all generations. More than 6 out of 10 French people have bought at least one second-hand or refurbished property in the last 12 months. A trend that has increased by 3 points since July 2023 (date of the last Sofinscope on the second hand) and is expected to strengthen with the rise of second-hand sales platforms, the search for savings and environmental awareness.
KEY FIGURES
• 1 in 2 French people consider buying second-hand products as a habit.• 65% of respondents prefer to buy a quality second-hand product rather than a new first-price product.• Over the past 12 months, the French have sold an average of 13 second-hand products.
THE SECOND HAND IS NOW ROOTED IN THE CONSUMPTION HABITS OF HALF OF THE FRENCH
Over the past year, nearly one in two French people bought second-hand products (49%) and 39% bought a refurbished product, a market that is growing strongly (+10 pts vs. 2023). Although inflation is slowing, the French are careful to limit their spending. The second hand is a consumer alternative: 70% of French people say they buy second-hand for economic reasons (+3 pts) and the ecological argument is also put forward by a little more than half of respondents (56%).
THE FRENCH SELL AN AVERAGE OF 13 PRODUCTS PER YEAR
In addition to the savings made possible by the purchase of second-hand products, the second-hand market represents an attractive additional income for 52% of French people (+3 pts vs. 2023 and +22 pts vs. 2013). On average over the last 12 months, the French have sold 13 products and nearly one in five French people (19%) say they sell more than 20 products per year. However, profits decreased with around €183 generated, a decrease of €39 compared to the previous year.
61% OF THE FRENCH COMPARE THE PRICES OF THE NEW WITH THE OCCASION WHEN THEY WANT TO BUY A PRODUCT
The attractiveness for second-hand products is a strong competitor to the new market. Thus, 43% of the French consider to consume only second-hand products and give up new products. This figure is even more convincing among those under 35 years of age, since it concerns 63% of them (compared to 37% among those over 35 years of age). Today, 65% of respondents prefer quality second-hand products rather than first-price new products. At the same time, nearly 6 out of 10 French people say they systematically look to see if the new products they are interested in are offered at a more advantageous price on the second-hand market. This applies even to three quarters of young people under the age of 35.
SECOND-HAND SHOPPING IS MOSTLY ONLINE
The anchoring of the second hand has allowed the rise of multiple online platforms. Today, 68% of French people prefer digital solutions (+6 pts) and 61% are turning to flea markets, second-hand shops and other physical sales depots, which represents a decrease of 9 points compared to the previous Sofinscope. Websites and applications selling second-hand products between individuals are cited by nearly 1 in 2 French people. This is certainly due to the diversity of the products and brands they offer. Single-brand second-hand platforms launched by brands remain strongly on the margins. 13% of French people say they visit them. Finally, the French lend themselves to the game of finding the right deal since half of them have become accustomed to regularly consult these applications without having any real need (48%).
PAYMENT FACILITIES WOULD PROMOTE SECOND-HAND DEVELOPMENT
Today, 29% of respondents say they have given up buying a second-hand property because of the lack of payment facilities offered by the seller. Also, 2 out of 5 French people say they would buy second-hand more frequently if they had this option, a proportion that reaches 59% among those under 35. Finally, 58% of the French consider that payment facilities should always be available on the second-hand market and that this would allow it to be even more accessible, especially in the event of a high basket.
Although second-hand shopping has clearly become a part of consumer habits, there are still obstacles to purchasing, particularly the lack of access to payment facilities. The implementation of solutions such as split payment by specialized second-hand platforms will be a booster for the second-hand market.
Any total or partial publication must use the following statement: “Sofinscope – OpinionWay Barometer for Sofinco”.
*Study conducted by Tripartie, 2022
Sofinco Press Service
Claire Garcia – presse@ca-cf.fr / +33(0)6 80 41 17 77
About SofinscopeSofinscope is the barometer of Sofinco, a brand of Crédit Agricole Consumer Finance. Intended to survey the French on their consumption habits and to better understand them, this barometer which is part of the daily lives of the French is carried out by OpinionWay for Sofinco, with representative samples of the French population.This study was conducted on a sample of 1,029 people, representative of the French population aged 18 and over. The sample was selected according to the quota method, taking into account the criteria of sex, age, socio-occupational category, agglomeration category and region of residence. The interviews were conducted from 21 to 22 February 2024 by self-administered online questionnaire on a CAWI (Computer Assisted Web Interview) system. All the results are available online on the Sofinscope website: Sofinco’s Consumer and Daily Barometer
About SofincoIn France, Sofinco is the trademark of Crédit Agricole Consumer Finance, a consumer credit subsidiary of Crédit Agricole S.A. which distributes a wide range of loans to individuals and associated services across all distribution channels: direct sales, point-of-sale financing (automotive and home equipment) and partnerships. Sofinco offers flexible, responsible solutions adapted to the needs of its customers and partners (major retail, specialized and institutional retailers), which are part of its project “Sofinco for Good, the promise of shared progress”. The Google UX Finance 2023 Benchmark has awarded Sofinco.fr the title of “Best Customer Journey”. For more information: www.sofinco.fr