Sustainable Biz #5 - Magazine - Page 9
Top
Five
Sectors
Percentage of
Recommerce
Economy
Value to
Recommerce
Economy
Cars and
vehicles
33.2%
£2.32 Bn
Clothing and
accessories
17.3%
£1.22 Bn
Entertainment and
Electronics
16.0%
£1.16 Bn
Home decor and
houseware
12.3%
£861 Mil
Baby care and the
children's market
7.8%
£544 Mil
The research also revealed emerging sectors
specifically within the rental sector, as one
in 10 (10 per cent) now choose to hire
items instead of buying brand new more
frequently than they did a year ago.
The research also shows that half of Brits
(50 per cent) are also turning to repairing
their broken possessions in response to the
rising cost of living. A further one in six
(16 per cent) would get something fixed
even if it would cost the same to buy it
again new, suggesting the decision to avoid
buying brand new is not only financial,
but also influenced by a desire to be more
sustainable.
cost-of-living and a shift towards more
sustainable habits are changing the way Brits
shop. Our data shows we’re increasingly
opting to shop second hand, or rent items
for a short period of time, rather than
buying outright. The trend is permeating a
range of sectors, from childcare to pet care
and from fashion to fitness.
Entertainment and electronics, which
includes laptops, books, headphones and
musical instruments, is the largest rental
growth category contributing £209 million
to the Recommerce Economy in the last 12
months. On average, consumers spent £50
on renting these items over the past year.
Home and garden items make up £190
million of the overall total, while pet care
– such as crates, beds and toys – contribute
£183 million, with Brits paying £52 on
average to rent items in this category during
the last a year. The sports and fitness sector,
which includes sports gear and at-home
gym equipment, contributes £170 million.
Those that do try to repair their items are
most likely to mend home and garden
furnishings (59 per cent) or clothes and
accessories (58 per cent).
A third would attempt to fix entertainment
items and electronics (34 per cent), while a
quarter would attempt to fix children’s items
(24 per cent) or sports equipment (24 per
cent). Linda Weston, Managing Director
at Barclaycard Payments, said: “The rising
Retailers looking to improve their payments
offering can do so by partnering with a
provider like Barclaycard Payments. The
payments provider, which processed over
8.7 billion card payments in 2022, offers
access to a wide range of digital services
from in-store mobile payment solutions to
secure payment experiences for customers.
More information is available at: https://
www.barclaycard.co.uk/business/acceptingpayments/corporate-payment-solutions/
industry-focus/retail-payment-solutions
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