UK consumers generate 3.5 billion by selling used items
Wednesday, February 6, 2013 - 10:01:57
A study, conducted by ThinkMoney, has discovered that savvy British consumers who sold their old stuff over the course of 2012, helped to net a combined total of 3.5 billion last year.
Of the 67 per cent of the population who choose to sell items that they have used and no longer require, the average annual cash injection that this provides per person is just over 106.
In fact, four per cent of the biggest used item selling fans said that they had made over 500 last year.
A quarter of those questioned said that they had sold their old mobile phone to get back some of the cash that they had invested in it over the course of a contract.
Selling an old mobile phone is a good idea for many people, since some unwanted handsets can be worth hundreds of pounds and it is easy to find prices when you compare the various offers online.
Sixty one per cent of regular second hand item sellers said that they used online services in order to part with unwanted products.
This includes the use of sites like eBay, as well as the firms that are willing to pay handsomely for any old mobile phones that are no longer required.
As well as selling used items, British people are also happy to give away certain products that they do not need. The most popular items that fall into this category are books, clothing and unwanted gifts.
The majority of people who give their stuff away turn to charity shops, with only 13 per cent of respondents stating that they use online services like Freecycle, which allow anyone to collect used products from households that want to pass them on to someone else.
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