The UK’s pre-loved economy is now worth an estimated £6.5bn, an increase of 48% since 2020, according to research carried out by Motorway and the Centre for Economics and Business Research (CEBR). The report predicts that the flourishing pre-loved economy is set to grow further to £12.6bn in 2027; roughly double its value today.
Spending on pre-loved items places £6.5bn additional income directly into the hands of UK households. This supports a further £6bn of consumer spending, leading to a £2.4bn contribution to UK GDP.
Two-thirds of Brits who bought pre-loved goods in the past year (66%) stated that saving money is a key reason behind their purchase of pre-loved goods, suggesting that cost-of-living concerns have prompted a shift in shoppers’ preferences. Four in 10 (42%) shoppers purchase pre-loved items to support a good cause, while a rise in environmentally conscious shoppers (36%) who believe in a more sustainable way to shop, has also contributed to the growing economy.
