As the recession toiled on in 2009, many Americans’ financial situations required that they become more frugal in their ways. However, a new survey has found one way in which financial cuts were made was by purchasing used items instead of splurging on new ones.
According to global business-to-business e-commerce company Alibaba.com, the economic downturn in 2009 resulted in a 113 percent increase in the number of searches for used items on the marketplace in November 2009 compared to one year earlier.
Among the most popular per-owned items searched on the website, primarily by entrepreneurs and small businesses, were cars, boats, golf carts, auto parts, and laptops.
"Second-hand products used to be just about worn-out items offered in yard sales. However, the concept is changing and we have found through our platform that the resale sector is escalating at the B2B level," said Sabrina Peng, vice president of Alibaba.com. "Second-hand products are also increasingly significant in online B2B trade as dealers have realized the benefits of sourcing those items online, such as time-efficiency and the broad variety of merchandise."
The company also referenced recent data found by the National Association of Resale and Thrift Shops that found the number of thrift shops and stores that specialize in reselling items has grown by approximately 5 percent annually every year since 2005. There are over 25,000 shops currently open across the country.