According to a recent report from Kijiji, British Columbians contributed $4.1 billion to the second-hand economy last year, making up 1.55 per cent 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 per cent of B.C. residents exchanged at least one item in the second-hand economy in some way and 50 per cent 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.
