6 Ways Second-Hand Shopping Can Be Life Changing

When the online mobile marketplace OfferUp released its 2022 Recommerce Report, it contained a few surprising statistics. The first was that 82% of Americans buy and/or sell pre-owned goods. That's approximately the same number who own a smartphone. Sure, 93% say inflation helps influence their decision to buy second-hand, but more people have realized the real benefits of buying gently used rather than new. Here are six of them.

1. You'll save money

Depending on what you purchase, you can save between 25% and 50% off the item's original price. And it's not just on clothes. The OfferUp report found that 76% of items bought and sold pre-owned aren't clothing, but fall into one of these categories:

• Electronics
• Furniture
• Home goods
• Home improvement
• Sporting goods
• Outdoor equipment
• Auto parts

Let's say you're in the habit of shopping second-hand before hitting retail stores. When you need a new sofa for the family room, you check out your online neighborhood marketplace. You shop for dishware at a local thrift store and home improvement items at a nearby Habitat for Humanity resale store. And when you need auto parts, there's an auto part recycling shop near your home. If the items purchased annually have a retail value of $4,000 and you save between 25% and 50%, you're saving $1,000 to $2,000 annually.

That's money you can use to build an emergency savings account, pay down debt, or invest for retirement.

2. You'll waste less

Think of all the times you've paid full price for children's clothing, only to watch the child outgrow the item in months, or purchased a new Halloween costume online that is only worn once. Buying quality second-hand clothes allows you to keep up with growth spurts without breaking the bank.

If you're quickly bored by your home decor, shopping second-hand shops and online marketplaces for pre-owned picture frames, lamps, throw pillows, and artwork means paying less. What's more, selling the items you're tired of could easily bring in enough cash to cover your new purchases.

3. You'll have options not otherwise available

You may not typically have enough money in your bank account to spring for designer or name-brand products. But second-hand shopping offers you the opportunity to pick up high-end brands at a bargain price.

4. You'll gain knowledge

It takes little time for most bargain shoppers to learn to recognize quality brands. Whether it's blue jeans or vintage flatware, second-hand shopping will familiarize you with what's valuable and what's not. Not only will you learn to look for the deepest discounts, but you'll know when a bargain is too good to pass up.

5. You'll support small businesses

Small business owners own and operate most small thrift stores, second-hand shops, and online marketplaces. By checking with those shops before heading to a department store, you'll help small businesses become established and grow.

6. You'll help the environment

An article called "The Benefits of Buying and Reusing Secondhand Clothes" by Dr. Glenn Agung Hole, recently published on LinkedIn, lays out three great reasons for shopping or pre-owned clothing.

1. Reduces carbon footprint: The fashion industry is responsible for significant carbon emissions, water usage, and waste generation. Buying second-hand clothes means reducing the demand for new clothes and reducing the carbon footprint associated with clothing production.
2. Minimizes resource usage: Each time you make a second-hand purchase, you help conserve natural resources like water, energy, and land. Here's why: To produce cotton -- one of the most commonly used materials in the fashion industry -- large amounts of water, fertilizers, and pesticides are used.
3. Reduces waste generation: The fashion industry generates approximately 92 million tons of textile waste annually. Buying second-hand means helping to reduce the environmental impact of waste disposal.

As most of us actively seek ways to reduce spending and save money, second-hand shopping is a clear choice. After all, what's not to love about saving money and saving the planet at the same time?