According to a recent report from Kijiji, British Columbians contributed $4.1 billion to the second-hand economy last year, making up 1.55% of the annual GDP.
The 2018 Second-Hand Economy Index Report examines the second-hand practices of Canadians, the economic impact of the second-hand economy, and explores how Canadians buy, sell, donate, lend and swap second hand items countrywide.
In 2017, 99% of B.C. residents exchanged at least one item in the second-hand economy in some way and 50% of Vancouverites are disposing of items by selling them in the second-hand economy.
In 2017, Canadians gave second life to 2.3 billion items, an average of 80 second-hand items per person. Residents of B.C. spent, on average, $877.33 on items in the second-hand economy. The average amount B.C. residents earned through selling in the second-hand economy was $655.73.
Millennials and members of Generation X were the biggest users of the second-hand economy. The top reason for acquiring goods through the second-hand economy was to save money and the top reason for getting rid of items was to declutter.
The top items exchanged in the second-hand economy were clothing, shoes and fashion accessories with entertainment items and baby clothes following behind.
“Canadians love finding good value, and they recognize how the second-hand economy can deliver it on both sides of buy-and-sell transactions. We’re seeing that come to life in the way they shop, as Canadians exchanged more second-hand items than ever in 2017, Kijiji General Manager Matthew McKenzie said in a press release.
