The resale market is growing in popularity. A recent study by First Insight and the Baker Retailing Center at the Wharton School of the University of Pennsylvania found consumers are choosing sustainability over consumption, with Gen Z leading the way having an outsize impact on older generations, particularly their Gen X parents. 

Gen Z is one of the major drivers behind a resurgence in the second hand market. The market has also seen an increase in usage by Baby Boomers at 56 percent, Generation X increasing by 35 percent, Millennials increasing by 33 percent and Gen Z increasing 44 percent. 

After years of being pushed to buy the newest and most expensive items influencers can peddle, Gen Z has rejected rentals, subscription boxes, peer-to-peer marketplaces, and clothing swaps, choosing more sustainable retail models like third-party and brand-operated resale and recommerce, with 65 percent of total respondents preferring these options.

The most common resale items being purchased are footwear, jewelery and watches, handbags and accessories.

All generations are choosing the resale market over traditional shopping for several reasons, including for concern for the planet, a preference for sustainability and circular shopping and better price. Yet affordability is still very important to Gen Z, with nearly 30 percent preferring to shop recommerce based on price.

Consumers are also changing their preferred payment methods when selling their own goods on the resale market, choosing cash over rewards, loyalty points, or discounts on future purchases.

All generations are also expected to continue to use resale as their preferred method of shopping, with 83 percent of respondents across all generations saying that they will continue to purchase second hand products compared to just 17 percent in 2019— a 5x increase.