A study carried out by Cross-Border Commerce Europe has found that Vinted is now the number one second-hand marketplace in the EU and the UK, overtaking Ebay.
Results for the ‘Top 100 Cross-Border Sustainable Marketplaces operating in Europe’ are based on sustainability data from the best performing marketplaces across all platform types, with individual rankings, out of 100, based on ten key performance indicators (KPIs). These include sustainability objectives and business models, product assortment, brand partners and carbon footprint measurement.
According to the organisation’s report, the second-hand resale market is projected to double by 2025, reaching a total of 34 billion euros. It further stated that the market is growing 11 times faster than that of traditional retail, putting it on route to becoming twice as big as the fast fashion sector by 2030.
The top 10 resale marketplaces of 2021
Vinted, a Lithuanian platform, tops the list for this year, achieving a score of 70 out of 100. Overtaking US-based Ebay, which topped the list’s first edition last year, it boasts a 2,75B gross merchandise volume (GMV) giving it a resale market share of nearly 40 percent in Europe. Its growth is partially driven by its acquisition of United Wardrobe, which saw the two resale platforms join together to expand its footprint.
Etsy Inc. now owns two of the top ten marketplaces, following its purchase of Depop in June this year, which has rose up the ranks to number five on the list, outrunning both Etsy and Amazon.
- Vestiaire Collective (FR)
Other popular marketplaces that found themselves lower on the list included the UK’s Asos Marketplace, coming in at 17, Zalando at 19 and Dutch platform, Bol.com, which sits at number 20.
Cross-Border further noted the developments marketplaces have implemented to create more sustainable solutions over the past years. These included operational moves such as broadening sustainable product assortments, adjusting product packaging and adhering to sustainable certifications. On a customer level, companies also started introducing augmented reality (AR) and virtual reality (VR) services, such as virtual fitting rooms to reduce online returns, a solution to online e-commerce’s “trillion-euro problem”.
Additionally, Cross-Border reported that 30 percent of its top 10 have worked or are working on reducing their carbon emissions from their own operations through direct shipping within the EU. Furthermore, these marketplaces offset carbon emissions with adherence to carbon-neutral energy standards.
“I would like to thank our market research partners FedEx Express and Worldline who, along with our research team, put all their energy behind the second edition of this eagerly awaited study,” commented founder of CBCommerce Carine Moitier. “It makes sustainable marketplaces operating in Europe more transparent and stimulates a sustainability journey for the entire sector.”