Secondhand fashion is gaining momentum as consumers have more and more opportunities to access quality products easily. And new research from Vinted suggests that as many as 84% of UK consumers are set to spend a proportion of their shopping budgets on secondhand gifts this year.

Dubbing the season ‘Thrift-mas’, the peer-to-peer resale site said that percentage potentially adds up to £2.05 billion in spending.

The company has linked up with Retail Economics for a study called New Recommerce 2024 and said secondhand will account for over 10% of all gift spending as shoppers are set to spend £20.5 billion on gifts in total.

Younger generations are at the forefront here with those aged 18-45 driving demand and 53% of those under 45 already buying secondhand items once a month or more often.

It’s not a new phenomenon — 63% of secondhand shoppers have bought such items as Christmas gifts at some point in the past, rising to 79% of those aged 25 to 34. But it’s growing. Some 35% expect to buy more over the next five years with that number rising to 43% of those aged 25-34. 

Fortunately for their relationships with their nearest and dearest, a majority of shoppers are also comfortable receiving secondhand gifts, with 63% saying they’d be comfortable receiving a pre-owned item.

While the move towards sustainability is always cited as a motivation in such trends, it seems that what’s key as far as Vinted’s respondents are concerned is “the desire to save money and the ability to find rare or unique items… with shoppers appreciating the lower prices and uniqueness of pre-loved items”.

Not that eco concerns are unimportant. Some 29% shop secondhand to lower their environmental impact.

With saving money the priority, consumers are also selling their own items to fund this year’s festive gift shopping, with 43% selling items on resale platforms to fund their gift buying.

It’s not all about clothes, of course, with the categories where shoppers are most comfortable buying secondhand gifts including books and music items, but luxury items and designer brands are also near the top of the list.

And while consumers seem happy to get a secondhand gift, those buying them seem to be really enjoying the whole experience of buying secondhand. The research showed that “shoppers aged 18 to 35 are more likely to enjoy the experience of finding the right secondhand item and to value the reduced environmental impact of shopping secondhand. Shoppers over 35 are particularly interested in finding unique or rare items, and are particularly likely to shop secondhand for nostalgic or sentimental reasons”.