PALO ALTO, Calif., Nov. 16, 2020 /PRNewswire/ -- In March, millions of Americans were asked to stay at home, leaving many to take stock of their belongings. As a result, the resale market has become more popular than ever and has served as a way to help bolster budgets in the wake of the pandemic. Today, Mercari, the no meetup marketplace, released the findings of a nationwide survey to better understand how the surge in resale will play into holiday shopping (and selling) trends.
The majority (68%) of Americans agree that 2020 has been tough and so will the holidays - but 38% are also hopeful about this time. As COVID-19 left people out of work, furloughed or uncertain of the future of their jobs, holiday spending budgets have been reduced. Two-thirds (66%) of consumers are more concerned about spending money this holiday season than last year, and 61% feel nervous about gift shopping because money is tight. Although their budgets are smaller, consumers agree that their loved ones deserve nice things. Many (46%) have supplemented their holiday budget by selling personal items (including clothes, furniture, electronics, etc.) on sites like Mercari.
"With so many of us spending time apart from loved ones this year, Americans are turning to gift-giving to show their love and gratitude from afar," said John Lagerling, Mercari U.S. CEO. "With more than 350,000 new listings daily, Mercari has unique, affordable, gently used and new items for everyone on your list."
Despite the difficulties of 2020, Americans are determined to give the perfect gift, which respondents describe as thoughtful (57%), meaningful (53%) special (44%) and/or unique (36%). Online resale provides consumers with the opportunity to find a unique gift without braving the indoor shopping experience. Resale is a way to continue traditions of stocking stuffing, packing presents under the tree or giving gifts for eight nights. Sixty two percent of parents say they want to shop more resale items this year because of COVID (higher than those without children 34% and the total 46%). In order to give loved ones the perfect gift this year, while still being mindful of budget constraints, here are five ways Americans will shop differently this season:
Feeling good by shopping resale: The overwhelming majority (82%) say they like shopping resale because it allows them to get a good deal. It also provides a cyclical way to shop with 73% saying they are not contributing to waste. Other feel good reasons for shopping resale include supporting small businesses (81%) and finding unique items (78%).
Digging for discounts & postponing purchases: Finding a deal is always a good feeling, but when budgets are tight, it is essential. This year, the majority (82%) of Americans plan to spend mostly on items that are a good deal. Getting the best price is so important that about half (48%) say they plan to wait on shopping until after the holidays to shop deals.
Swapping in-store crowds for online and apps: To avoid the usual holiday madness and in-store lines, consumers have opted for contactless shopping experiences. Americans say they are more likely than last year to consider shopping online (33%) or on an app (30%) for resale items.
Turning old looks into new trends: As we've settled into the quarantine lifestyle, Americans have learned new skills and created trends. This year, rather than shopping for clothes (38% vs. 45% pre-pandemic), consumers have something else on their minds. They like shopping for resale items because they're looking for older, vintage items that they can turn into new trends (64%).
Dealing with delivery delay distress: The majority of Americans (62%) don't plan to only gather in person with family/friends this holiday season, causing many (57%) to be more concerned this year that their loved ones won't receive gifts on time for the holidays. In partnership with Postmates, Mercari is making it possible for consumers to get their loved ones in New York, San Francisco and Houston their gifts on time with Mercari Now, a same-day, contact-free delivery service.
Mercari commissioned Ipsos to conduct a 10-minute online survey among n=1,000 Americans living in the United States. The survey is nationally representative as it relates to age, gender, household income, race/ethnicity and region. In addition, 20% of the sample consists of BIPOC men and women. The survey was conducted and completed between October 19 and October 27, 2020. The margin of error for the total sample at the 95% confidence interval is +/- 3.1 percentage points.
Mercari is the mobile-first marketplace whose goal is to make it fast, safe and easy to exchange items that are no longer being used. With Mercari's 'everything ships' model, millions of buyers and sellers across the U.S. can exchange goods while avoiding in-person meetups. Mercari is constantly innovating to make exchanges easier, from at-home authentication to improvements in online payments and shipping. To date, Mercari has more than 50 million downloads in the U.S. and 350,000 new listings every day. Mercari can be downloaded on app stores or accessed online through www.mercari.com.