Vinted boss says cost of living crisis has 'boosted' secondhand industry The cost of living crisis has “boosted” the secondhand industry, Sky News has been told, as more than £2bn is spent on pre-loved gifts this Christmas.
"I'm sure the cost of living crisis has been a boost," he told Sky News, adding that it had supported "the secondhand industry and trading of secondhand".
"But I do think this trend was happening anyway because of people's consciousness around overconsumption, around sustainable buying and sustainable consumption.
Adam Jay, CEO of Vinted Marketplace, said the "trend" in buying pre-loved was "happening anyway" but described rising costs elsewhere as a possible "accelerator".
Vinted, an online marketplace for buying and selling pre-owned items, made its first annual net profit last year of €18m (£15m).
