UNITED KINGDOM’S ECONOMIC & RESALE FACTS & STATS  

GDP real growth rate: 4.35% (2022)ii 

Ease of doing business: Very Easy with a score of 83.5 (2020)iii

Market Size of Used Goods Stores industry: £2.5 Billioniv 

Resale Stores: 4,018v

Consignment Stores: 358

In the United Kingdom, the secondhand market is thriving, with some of the best-selling products including vintage and designer clothing, rare and collectible books, and modern electronics like smartphones and laptops. Antique and modern furniture, stylish home décor, and children’s items such as clothing, toys, and strollers are also highly sought after. Additionally, sporting goods, musical instruments, vinyl records, DVDs, and both vintage and modern pre-owned jewelry are popular choices. These secondhand items are favored not only for their affordability but also for their sustainability, helping to reduce waste and promote a circular economy. 

Country resale stats –  

UK Sneakers Market Size: 4.11 Billion USD (2023)vi 

Revenue forecast: 6.48 Billion USD (2030) 

  • In 2020, online marketplaces are the most used channel for reselling trainers, raking up 50% of all transactions and a $3 billion revenue. 
  • The women’s sneaker resale segment experienced a 41.1% spike from 1.6% in 2014 to 42.7% in 2022.  
  • The majority of secondary sneaker shoppers belong to the millennial age group (27-42), taking up approximately 80% of sneaker resale purchases.

     

HISTORY OF RESALE IN THE UNITED KINGDOM

Secondhand clothing bazaars were common as far back as Elizabethan England. The first organization one might genuinely consider a “charity shop” was the Wolverhampton Society for the Blind in Staffordshire, England. Citizens donated used goods for sale, with the proceeds going to provide for the visually impaired. 

Consignment shops began to take hold in the 1950s as new synthetic fabrics created a demand for new fabrics and, simultaneously, created mountains of unwanted, used clothing. These stores gave consumers the ability to afford the latest fashion trends as second-hand goods at substantially reduced prices.vii 

In the UK, the attitude towards consignment is increasingly positive, driven by a desire for sustainability and environmental responsibility. Consumers appreciate the economic benefits of finding high-quality, affordable goods and the opportunity to sell items they no longer need.  

The allure of unique and vintage finds, coupled with the quality and durability of older items, adds to the appeal. Changing perceptions have made second-hand shopping trendy and responsible, while online marketplaces have made it more accessible. Additionally, many people enjoy supporting local businesses and charities through their consignment purchases. 

 

WHY THE UNITED KINGDOM IS A GREAT PLACE TO OPEN A CONSIGNMENT RESALE SHOP

The used and second-hand goods industry, which involves the transfer of pre-owned items to a secondary consumer, has likewise increased in popularity in recent years. Specifically, the global second-hand apparel market was valued at approximately 33 billion U.S. dollars, a figure that is projected to nearly double in the next few years. 

Advantages for consignment retailers: 

  • Low financial risk. Because retailers don’t pay for products until they’re sold, purchasing surplus stock and losing capital on inventory costs isn’t a concern. Consignment inventory allows retailers with tight margins to take on new products and to avoid assuming financial risk for products that don’t sell. 
  • Higher potential for sales. Consigned goods can help diversify retail inventory, which can increase sales and profits. 
  • Fewer storage needs. New stock can be brought in whenever there is customer demand for products. Retailers don’t need to make special storage arrangements for excess stock and can return any products that don’t sell. 

Consignment inventory advantages for suppliers: 

  • Visibility. Consignment inventory gives suppliers an opportunity to reach new audiences by selling their products through retail stores. This enables suppliers to generate revenue without renting or owning their own retail space or hiring employees to run a store. 
  • Testing. Consignment inventory enables suppliers to test new products in new markets, which can help them evaluate the product’s performance, based on the number of sales generated. 
  • Reduced inventory costs. If large amounts of the goods are stored in warehouses, consigning inventory can help reduce some of those carrying costs by placing the goods with retail partners until they sell. 

 

London

Country: UNITED KINGDOM 

Capital City: London

Currency: Pound Sterling, British Pound

Languages: English

Population size: 67,596,2811

Public Holidays: 8

Aravenda services available:  

  • Full-service consignment software – resale inventory management including consignor payouts 
  • Personalized onboarding with an assigned specialist to assist you 
  • Website development and creation (fully integrated with Shopify) 
  • Shopify website creation and updates 
  • Customized, White Label Enterprise product for larger enterprise customers
    Learn more

GROW YOUR CONSIGNMENT AND RESALE BUSINESS WITH ARAVENDA CONSIGNMENT SOFTWARE 

Propel your consignment business to new heights with Aravenda, the best consignment software solution. 

Free trial

View a demo

Quickstart guide 

 FREE CONSIGNMENT SOFTWARE 

Top services that Aravenda offers:

  • Remote item entry and sales fulfillment from up to 100 locations 
  • Multiple locations management up to 100 locations 
  • Fully integrated Shopify partner 
  • In house website and graphic design services 
  • Personalized set up and onboarding 
  • Multi-consignor website display (you can show 1 item coming from multiple consignors with different prices, sizes, colors, etc.) 

 

Fair pricing/rates 

MONTHLY SUBSCRIPTION 

1 location or website 

289 USD = £231 

2 locations or websites 

449 USD = £360 

Enterprise plan with 3 locations or websites 

559 USD = £447 

Our Pricing

*This pricing is based on the average currency exchange rate (2023) of 1 USD = £0.80 

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