One way to save money on holiday spending is to buy secondhand gifts instead of new ones — and a lot of Americans will do just that this holiday season. More than two-thirds (68%) of U.S. shoppers plan to set aside part of their holiday budgets for pre-owned items, according to a new survey from mobile marketplace OfferUp.
Gen Z shoppers are especially apt to embrace secondhand gift giving, with 83% saying they’ll do so this holiday season.
While secondhand gifts might have been frowned upon in the past, that’s no longer the case. The survey of 1,500 U.S. adults found that more than 80% of respondents are open to receiving holiday gifts. About three-quarters of shoppers believe giving secondhand gifts has become more accepted over the past year — a 7% increase from 2023.
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Unique Gifts Are ‘In’
Nearly half of shoppers actually prefer secondhand items over traditional retail gifts because of their better value. Meanwhile, 40% appreciate the “unique gift options” that resale platforms provide.
“The stigma around secondhand gifting is rapidly diminishing,” said OfferUp CEO Todd Dunlap in a Nov. 20, 2024 press release. “Consumers are recognizing the unique value, quality and affordability that secondhand gifts provide, especially in light of rising living costs. Pre-owned items are no longer just a practical choice — they’re now a preferred option for many, offering a way to give memorable gifts while being mindful of budget constraints.”
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This is particularly true of Gen Zers. While 31% of shoppers overall “enjoy the thrill” of searching for a perfect secondhand gift find, that thrill applies to 37% of Gen Z shoppers.
The OfferUp survey includes research and data from retail analytics firm GlobalData and online market researcher Pollfish.
Here are some of the other highlights:
- Popular secondhand gift choices this holiday season include electronics (55% of respondents), sporting goods (47%) and furniture (42%).
- 63% of shoppers say rising living costs have made them more inclined toward secondhand holiday gifts.
- 52% choose secondhand gifts to find unique items that “truly reflect” the recipient’s interests.
- 52% opt for secondhand options to get great deals and stay within budget.
- 43% select secondhand gifts to give vintage, rare or collectible items unavailable in traditional retail stores.
Overall Spending Will Still Be High
One thing most Americans plan to do this holiday season is spend more money than in years past. Consumer spending is expected to reach a record $902 per person on average across gifts, food, decorations and other seasonal items, according to the National Retail Federation‘s latest consumer survey, which was conducted by Prosper Insights & Analytics. That amount is up about $25 per person from last year and $16 higher than the previous record set in 2019.
This year’s increase is mainly due to gifts for family members, the NRF noted. Of the $902 shoppers plan to spend, about 71% ($641) is on gifts for family, friends, co-workers and others. That compares with $620 last year. The remaining $261 will be spent on food or candy, decorations, greeting cards and other holiday items.
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This article originally appeared on GOBankingRates.com: Two-Thirds of Shoppers Will Buy Secondhand Holiday Gifts — Gen Z Leads the Way
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