Vinted marketplace CEO says secondhand shopping is a 'fundamental change' in consumer behavior as resale firm reaches $9 billion valuation
By
Elsa Ohlen
Hot, fresh, and worth queueing round the block for.
Summary
Vinted's marketplace boss told CNBC that the company is seeing a fundamental, structural shift in consumer behavior toward secondhand shopping, driven by rising costs of living. The consumer-to-consumer resale platform, which allows users to sell clothing, electronics, and furniture, saw the value of items sold on its platform grow nearly 50% last year as it expanded into more European markets. The company recently achieved a $9 billion valuation, reflecting the rapid growth of the resale economy as consumer habits increasingly form around secondhand purchasing.
Key quotes
· 1 pulledIt's a fundamental change in consumption towards second hand
You might also wanna read
Let's Barter: A Platform for Item Trading Without Money
Let's Barter is a platform that enables users to trade items they already own for things they want without using money. The service allows p
Product Hunt·1mo ago
From Fixed Pricing to Surveillance Pricing: How Personal Data Threatens Market Transparency
The article explores the historical shift from haggling to fixed pricing in retail, tracing this transformation to John Wanamaker's departme
lpeproject.org·1mo ago
Dezeen picks the eight most covetable products from IKEA's latest PS collection
Using Land Value Capture to Revitalize Urban Retail and Create Vibrant Shopping Streets
The article explores how land value capture could be used to revitalize retail and create vibrant shopping streets in cities. It discusses t
worksinprogress.co·3mo ago
Resell AI: AI-Powered Tool for Estimating Resale Value of Products
A developer introduces a web app called Resell AI that helps people resell items online more efficiently. The app uses AI to analyze product
Product Hunt·5mo ago
Personal Decision to Cancel Netflix and Switch to Physical Media Due to Price Increases
The author shares a personal decision to cancel Netflix due to yet another price increase, opting instead to purchase a DVD player and build
aywren.com·2mo ago