E-commerce turnover within the second-hand segment amounted to just over 750 million Swedish krona, which corresponds to an increase of 12 percent year-on-year. Sales in physical second-hand stores remained virtually unchanged compared to May of the previous year.
Uneven Recovery
Despite the overall increase, the development is divided depending on product group. The fashion category continues to act as a locomotive and generated just over 460 million Swedish krona in sales in May, an increase of almost 15 percent year-on-year.
The development for other investigated categories was weaker:
- Furniture and home furnishings: Sales decreased by over 40 percent year-on-year, landing at just over 113 million Swedish krona.
- Books and magazines: Turnover decreased by almost 19 percent compared to May last year, to just over 62 million Swedish krona.
Compared to the previous month, activity was dampened overall. Total sales fell by almost 13 percent compared to the stronger development in April. Online sales decreased by almost 15 percent from April levels, while sales in physical stores fell by just over 8 percent.
Need For Regulatory Changes
Maria Mikkonen, Chief Economist at Svensk Handel, notes that the market is on a more stable foundation than earlier in the year, but emphasizes the internal variations.
May shows that the second-hand market is standing somewhat more firmly than at the beginning of the year, but the recovery is still unevenly distributed between categories.
Svensk Handel highlights in connection with the statistics that an adjusted VAT system is central to the future of the industry. Mikkonen emphasizes that a reduced VAT on second-hand goods would stimulate more circular consumption, improve profitability for companies and provide more favorable conditions for sustainable retail.