Mercari's Second Annual Reuse Report Reveals: American Parents Projected to Spend $12.8 Billion on Secondhand Products for Kids and Babies by 2030
PALO ALTO, Calif., Aug. 24, 2022 /PRNewswire/ -- Mercari, the online marketplace that connects millions of people across the U.S. to shop and sell items that are no longer being used, today released its Reuse Report: Family Edition. As a follow-up to last year's inaugural Reuse Report, this report focuses on the resale ecosystem through the lens of American families and parents."Our study reveals that the resale market for kids' and baby products is expanding rapidly–especially digitally–with economic challenges being a driving factor of this trend," said John Lagerling, Mercari U.S. CEO. "Consumers are being mindful of their budgets and want to reduce waste, which are primary growth drivers in the secondhand market, and we expect this growth to accelerate through 2030."
- In 2021, the secondhand kids' and baby item market was valued at $7 billion, up 11.7% from the prior year.
- It is forecast to grow 83.5% by 2030 when it is projected to be valued at $12.8 billion.
- Other insights from Mercari's 2022 Reuse Report: Family Edition include:
More than half of kids' and baby item resale will be online. - In 2021, luxury resale for kids' and baby items was $948 million, and it's expected to grow to $1.45 billion by 2030.