Resale Revolution: Sustainability and Style Drive Auction & Reselling Growth

As of October 2024, 25% of consumers deemed the auction and reselling category “very relevant”—up from 24% in August—highlighting steady growth across the year. Interestingly, the percentage of those who think these platforms are “very irrelevant” has stayed low, hovering at a consistent 10% for most of 2024. It’s clear: auctions and reselling are more than a trend. They’ve become the go-to for those looking to pick up something second-hand and sustainable.

Names like Vinted are leading the charge, riding high on the wave of affordable, sustainable fashion. Meanwhile, Depop is capturing the hearts of Gen Z with its ultra-niche, vintage vibe. Kleinanzeigen—the O.G. in the auction world—still holds its ground, tweaking its model to cater to both second-hand treasure hunters and those seeking brand-new gems. And the shift towards second-hand isn’t just a fleeting moment. Dive deeper into this movement with our take on second-hand gifting and see why reselling might just be the future of retail.

Brand Awareness in 2024: Leaders and Challengers in the Auction and Reselling Market

The big names in auction and reselling have shown varying levels of brand awareness throughout the year, and our data reveals who’s pulling ahead. Kleinanzeigen, still the heavyweight in the field, boasts an impressive 70-73% brand awareness across most of 2024. After a brief dip to 62% in October 2023, the platform bounced back and held its top spot, proving its dominance in the auction scene.

Close on its heels is Vinted—the reigning champion for fashion lovers. They saw its brand awareness fluctuate from 42% in October 2023 to a high of 59% by January 2024. This steady recognition cements Vinted as a beloved name for those looking to refresh their wardrobe with pre-loved pieces.

Meanwhile, Momox and ReBuy are steadily holding a spot in their niche, focusing primarily on electronics and media. Momox kept things consistent at around 49-59% brand awareness, while ReBuy fluctuated between 31-38% over 2024. They’re not at the top, but they’re respected players in the market.

And then there’s Depop, struggling to keep its brand awareness high. It dipped from 5% in August to 4% in October 2024, showing there’s work to be done if it wants to stay relevant among younger consumers. Similarly, Shpock and Quoka.de saw stable awareness levels, floating between 21-29% throughout the year.

New Contenders and Untapped Potential in the Auction & Reselling Space

On the other side, platforms like Backmarket and Grover are on the rise. Backmarket—capitalising on the growing demand for refurbished electronics—jumped from 7% in April 2023 to 14% in October 2024. Grover showed a similar steady stage, maintaining a 10-13% awareness level across the year.

Smaller players such as Sellpy and Catawiki are also finding their footing. Sellpy, with its focus on second-hand fashion, saw its awareness steady from up to 7% by the end of 2024. While Catawiki, an auction platform specialising in unique collectibles, grew up to 6% in December 2023, it remains 3% in October 2024. Still, 6% of consumers by October 2024 reported not recognising any of the major platforms—signalling there’s plenty of untapped market potential for these reselling giants.

Spending Habits: How Much Are Consumers Willing to Invest?

As consumer interest in auction and reselling platforms grows, so do their spending habits—though with some caution. By October 2024, 12% of respondents said they plan to spend less on auction and reselling platforms, an increase from 8% back in January 2024. At the same time, 38% expect to spend the same amount as before, reflecting a slight drop from 40% in January. This indicates some stability in spending patterns.

Interestingly, the percentage of consumers planning to spend more remained steady at 23% throughout the year. Furthermore this shows that a solid group is consistently committed to increasing their spending. A small group of consumers, roughly 19%, still sits on the fence, unsure of their future spending. While 9% claimed they don’t spend on this category at all—a slight decrease from the 11% seen in January. The data suggests that while enthusiasm for auction and reselling is growing, there’s a mix of cautious optimism and steady commitment among consumers.

Gen Z and Gen X: A Tale of Two Generations in the Second-Hand Revolution

Gen X grew up in an era where second-hand shopping was less a trend and more a necessity. A rite of passage driven by availability and the thrill of treasure hunting in thrift stores. They embraced the charm of vintage finds and budget-friendly bargains long before sustainability became a buzzword. In contrast, Gen Z dives into this world not out of necessity, but as part of a vibrant cultural movement. They are seeking individuality and eco-consciousness in every purchase. While Gen X approaches second-hand shopping with nostalgic ease, Gen Z sees it as a playground for self-expression. Also creating a fascinating dichotomy in the way these generations interact with the reselling landscape.

Generational Spending: Millennials, Gen Z, and Gen X Bring Their Own Twist to the Auction and Resale Scene

When it comes to spending in the auction and reselling market, age brings its own flavour to the mix. Millennials and Gen Z are the cheerleaders here, with each 27% planning to spend more. They are drawn to second-hand goods for their eco-cred and wallet-friendly appeal. For Gen X, however, there’s a different story—a story of nostalgia. They were raised in an era where second-hand shopping wasn’t a trendy choice but a necessity. Thrift stores, hand-me-downs, and garage sales were the norm, creating a generation that knows the thrill of a good find. Today, they’re returning to the scene, but with a more cautious eye. 42% are content keeping their spending steady, valuing quality and sustainability over novelty.

Gen Z’s Sustainable Playground: How Resale Platforms Are Becoming Cultural Hubs

As each generation continues to shape the second-hand market in its own image, the auction and reselling world stands poised to become more than just a trend. It’s the new, sustainable reality. This digitally native, sustainability-conscious cohort has embraced platforms like Depop and Vinted. They turn them into cultural hubs for unique, second-hand finds. Buying habits are often driven by the need for individuality and their deep-rooted values in sustainability. In fact, it’s Gen Z’s increasing influence that’s helping platforms like Depop carve out a space. Even though its brand awareness dropped slightly to 4% in October 2024. They gravitate towards niche items that help them express their identity, making reselling platforms the perfect playground for their style experiments.

Brand Usage: Who’s Leading the Auction & Reselling Market?

When it comes to usage, Kleinanzeigen leads the pack once again. By October 2024, 35% of respondents actively used the platform—up from 32% earlier in the year. Kleinanzeigen’s seamless user experience and long-standing market presence make it a favourite among buyers and sellers alike.

Vinted, known for its second-hand fashion focus, saw 18% of users engage with the platform in October 2024, holding steady from previous months. This speaks to its ability to maintain a loyal customer base, while continuously attracting new users.

Refurbished Electronics and Niche Players: Opportunities and Challenges in the Resale Market

Other platforms like ReBuy and Momox—focused on electronics and media—held steady, with 5% of users engaging with these platforms regularly. However, Depop and Shpock remain niche players, with around 3% of respondents actively using Shpock. This highlights the need for these platforms to broaden their appeal if they want to break through to a larger audience.

On the up-and-coming side, Backmarket is benefiting from the growing demand for refurbished electronics, showing just 1% usage by October 2024. While still modest, it’s clear the demand for refurbished goods is rising, and Backmarket is poised to capture more of this market in the future.

Ready to Track Your Brand?

In a world that’s constantly evolving, standing still is just not an option. If your brand lives in the auction or reselling space—or anywhere in between—you need to know where you stand. Understanding brand awareness, brand usage, and brand consideration isn’t just a marketing exercise. It’s the difference between thriving and being forgotten. Want to know how your brand is stacking up? Maybe it’s time to dive into your own brand tracker with DCMN and see what’s working—and what’s not. After all, knowing your place in the market is the first step to owning it.