‘Re-commerce’ on the rise in Asia Pacific as millenials turn to pre-owned items

What did the report find?

• Millennials cared more about social issues such as sustainability, social responsibility and climate change in comparison to over 35s.

• Sustainability considerations factored higher for sellers, too. In the majority of markets, both those under 35 and over 35 said they were motivated by environmental concerns to buy pre-owned products.

• Over 35s are significantly more motivated by promotions and sales when it comes to purchasing a luxury item, whereas under 35s were more likely to save for a particular item.

• JJ Eastwood, the managing director for CMG, said: “‘Recommerce‘ has become synonymous with sustainability and this research demonstrates how important this has become to young people across the region. This presents a unique opportunity for brands to win the hearts and minds of this core consumer segment around issues they care deeply about.

• “This research captures a highly-engaged millennial audience who are in the browsing and buying mindset, motivated by a great deal and their belief that purchasing pre-owned is more sustainable. In addition, when we took a closer look at the Luxury Category, we found that half of all respondents bought luxury items in the past 12 months.

• “72% of Vietnam respondents bought at least one luxury item and 33% bought more than three. Singapore, Carousell Malaysia and Hong Kong are above the purchasing average; despite being in the midst of a global economic slowdown. This signals the rise of an aspirational consumer class.”