B.C. tops in second-hand economy, according to new report
Credit to Author: Cheryl Chan| Date: Mon, 04 Nov 2019 04:01:11 +0000
B.C. is the hotbed for Canada’s thriving second-hand economy, with 86 per cent of British Columbians getting in on the action, according to a new report to be released Monday.
B.C. nudged Alberta out of top spot in the latest annual Kijiji Second-hand Economy Index, leading a nationwide trend fuelling a $27.3-billion second hand economy in 2018.
“We’re seeing that the second-hand economy is at an all-time high,” said Kent Sikstrom, community relations manager for popular online classifieds site Kijiji. “When you go back to 2014, the rate of second-hand acquisitions has grown at about 14 per cent year-over-year both in B.C. and across Canada.”
The trend is spurred on in part by new technology and platforms that connect buyers and sellers, but also by changing attitudes toward used goods.
The report found that Canadians save an average of $744 last year buying second-hand instead of new. But while saving money remains a top motivator to go second-hand, other factors are also on the rise.
“We’re seeing more and more people who are being socially responsible and community-minded in their commerce decisions,” said Sikstrom. “There is a drive to be altruistic and mindful of the environment, and make choices that are more sustainable.”
Opting to buy second-hand isn’t just for people earning lower incomes. About 35 per cent of users have annual incomes of $80,000 or more, said the report.
Sikstrom noted there is also less of a stigma today with second-hand goods. Before, second-hand often meant ratty items in bad shape, he said.
“Now second-hand is a revitalization of items that are reusable and often almost brand new but for different reasons people are wanting to declutter, or have a sense of altruism where they don’t want to put an item in the landfill but think there might be someone who can legitimately use it,” he said.
About 82 per cent of Canadians took part in the second-hand economy in 2018 — buying, selling, donating, renting, or swapping about 2.4 billion items. The report pegged the value of all transactions at $27.3 billion, comprising 1.23 per cent of GDP.
At 86 per cent, B.C. leads the country in terms of participation in the second-hand economy, compared with 84 per cent in Alberta and 82 per cent nationwide.
B.C. also tops the survey’s intensity index, which tracks the average number of second-hand items acquired or disposed of in a year. B.C.’s intensity rate of 99 is the highest in the country — compared with the Canadian rate of 82 — and shows a near 50/50 split between acquiring and disposing.
In comparison, Alberta’s intensity index is 93. Quebec, at 59, has the lowest intensity rate.
Clothing, shoes and accessories make up 30 per cent of all items in the second-hand economy, followed by entertainment items (13 per cent), and baby clothing and accessories (eight per cent).
The report is based on a survey conducted online for the Observatoire de la Consommation Responsable (OCR) of the Université du Québec à Montréal (UQAM) in partnership with MBA Recherche between Sept. 18 and Oct. 12, 2018. using a sample of 5,625 adult respondents representative of the Canadian population.