While the report focuses mainly on Poshmark's users, it nevertheless provides better understanding of the overall resale market, where the latter is reported to reach $51 billion in five years. The report also discusses the growth of secondhand and resale market.
Of emphasis is that secondhand goods are more popular with younger audience, where 16.5% of secondhand items were bought by Gen Z, followed by Gen X at 14, millennials at 12.5%, and boomers at 9.5%. Inversely, older generations preferred buying items from department stores.
I sometimes buy items on Facebook Marketplace, particularly if they're unavailable elsewhere. What about you? Do you see social media as a new ecommerce platform? Chime in.