More than half of adults resell their unwanted items – as a side hustle to earn more money
The average adult has an estimated £341 worth of unwanted items gathering dust around the home - that could be sold for profit.
The study of 2000 UK adults found 85 per cent sell some of their preloved goods, making an average of £126.24, at £20.17 per sale.
Clothes, phones and tablets or gaming gear are the most lucrative items to resell online.
And 53 per cent of those surveyed see this reselling side hustle as a way to supplement their primary income.
But while 19 per cent resell often, 36 per cent of those still considering it admitted they are unsure of how to go about it.
And 23 per cent have no idea that their unwanted possessions could earn them money, potentially missing out by not joining the emerging trend, according to PayPal’s Resale Renaissance Report.
Letting go of preloved items
Vincent Belloc, general manager, PayPal UK, said: "It's no surprise we’ve seen a boom in the second-hand economy with high inflation.
“You may have items that you could supplement your income by selling stored in your attic without realising.”
The research also found that as well as selling items, 25 per cent regularly purchase pre-owned goods - spending an average of £71 per year.
Pre-loved fashion (38 per cent), books (31 per cent) and furniture (13 per cent) topped their shopping lists.
Of those who do buy second-hand items, 67 per cent named saving money as a key reason.
Others want to be more sustainable and help reduce waste (35 per cent) or want to purchase one-of-a-kind items (23 per cent).
Keep your payment information safe
It also emerged the most popular destinations to buy second-hand clothing and items are still charity or thrift shops (52 per cent).
Reselling platforms such as Depop (44 per cent) and social media (18 per cent) are rapidly becoming more popular.
Car boot sales (20 per cent), market stalls (14 per cent) and direct from friends and family (17 per cent) are still popular ways to shop for second-hand bargains, according to the stats by OnePoll.
However, exactly half sometimes worry about the quality of pre-owned items they might find when they’re buying online.
Vincent Belloc, for PayPal UK, added: “While the second-hand economy is booming, our research shows that people are still concerned about the quality of second-hand items they buy.
"When buying or selling peer-to-peer, via online marketplaces, or at car boot sales or on the high street, it’s important to ensure your payment information is safe and your purchase or sale is protected in case it’s not as advertised.”
Top pre-loved items that make the most money
- Phones and Internet-enabled tablets
- Games consoles, games, and gaming equipment
- Computers or laptops
- Sports and exercise gear