25.3 C
Friday, October 30, 2020

Second-hand economy ‘may be worth $40b’

Must read

Retailer behind Katies, different iconic manufacturers to shut 250 shops

The retail group that owns Noni B, Katies, Millers and Rivers is closing an additional 250 shops by mid-2020, blaming purchasing centre landlords...

No inquest into Osmington household bloodbath, however parliamentary inquiry doable

There will probably be no inquest right into a household bloodbath that shocked the nation two years in the past, however a parliamentary...

The average Australian household has $5200 in clothing, books, DVDs, toys and other unwanted goods that could be sold in the second-hand market, a report suggests.

Research commissioned by classifieds website Gumtree estimates Australia’s second-hand economy is potentially worth $40 billion, if all those unwanted and unused goods are sold.

Dr Rebecca Valenzuela, from Monash University’s economics department, said the reported growth in participation and volume of exchanges indicates Australia’s second-hand goods market is a booming industry.

She said increased use of the internet and in particular the availability of information about the products has helped boost participation in the second-hand goods market.

“I think the exchange of information is just richer as we go on and on in time,” she said.

“More and more households are becoming aware that they have this untapped resource and that they can turn these unwanted things into extra dollars in their pockets.”

Online Source

The Indian Telegraph Sydney Australia

Latest article

Kyle Daniels trial: Mum will ‘always remember’ what daughter mentioned to her

A mom has defended her choice to solely elevate with swim faculty workers allegations that an teacher had inappropriately touched her daughter and...

Qld election 2020: The place to vote in each Qld voters

Thousands and thousands of Queenslanders will head to the polling cubicles on Saturday to solid their vote in what is predicted to be...

FIRST LOOK: Bluewater lagoon opens new play space

There have been screams of pleasure because the sprinklers turned on for the primary time on the new Bluewater Lagoon play space on...

HIV+ pedophile Jadd William Brooker enters early responsible pleas to safe sentencing low cost

A pedophile who allegedly needed to contaminate youngsters with HIV shall be eligible for a better sentencing low cost, after he entered early...

Married At First Sight star Stacey Hampton faces courtroom charged with breaching coronavirus restrictions

Married At First Sight star Stacey Hampton has appeared in an Adelaide courtroom accused of breaching coronavirus restrictions.Hampton, 27, was charged with three...