Home Business NewsBusiness The £6.5bn potential Brits are missing out on

The £6.5bn potential Brits are missing out on

by LLB Reporter
24th Jul 18 8:14 am

The current rapid growth of the resale economy shows how Brits are starting to see the value in purchasing pre-loved items. However, according to new research from Gumtree, the UK’s number one classifieds site, we’re missing out on a massive £6.5 billion in potential savings each year because we don’t feel comfortable negotiating when buying via online marketplaces – that’s a potential loss of £496.20 per person.

The research indicates it’s our general awkwardness that’s potentially putting people off making the most of the incredible range of items and re/upcycling opportunities on offer. Almost two thirds (61%) admit they would rarely or never try to negotiate when meeting a seller, of which 41% said it was because it would feel rude and 35% because it would feel ‘inappropriate’.

Moreover, a whopping 67% of people who prefer phoning when contacting the buyer/seller for the first time said they find the initial call to discuss the item awkward, more than a third (34%) feel anxiouswhen meeting, almost half (49%) worry about the buyer/seller not turning up, 37% dread the buyer trying to haggle on price and more than one in ten (12%) even worry about whether the other person is going to be too chatty. What’s more, more than a quarter (27%) of those who wouldn’t complain if they got home and found the item was faulty said it was because it would just be too awkward. All of which might explain why the most common form of feeling after the transaction is complete is relief (51%).

In fact, almost a fifth of people (18%) have never used an online marketplace, of whom 29% admitted it’s because they prefer to use websites they’ve used before, a quarter (25%) worry about fraud, 18% don’t trust an item will be as described and one in 10 are nervous about meeting people to pick up the item.

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