The Used Goods Market is Growing – Second-Hand Market Flourishing

Time to jump on the bandwagon of the online classifieds and start to make some real cash and save some too! The last 5 years there have been a year back-to-back growth for the online classifieds.

Here are a few points why the market is growing and will continue to grow, and possibly some ideas for how to exploit the possibilities.

1. The product life cycles are getting shorter and shorter.

The big consumer companies present a new updated gadget every 6-12 months. The question is do you relay need the latest gadgets? Probably not! Conclusion: So you will get a few months old camera or mobile that is good enough – most likely you will not see the difference and it's lots cheaper.

2. Recession taken its toll on retailers – second-hand market flourishing – cash-strapped consumer seeks bargains.

(Headline from a market report). Lots of consumers are now looking for options to save cash – and discover the online classifieds for selling and buying. Conclusion: More users, gives better possibilities for closing deals.

3. Luxury brands in the second-hand market. Instead of going to the pawnshop – both sellers and buyers will get better prices – than involving the pawnshop middleman. In fashion the trends are fast and after a few weeks you could sell and get the ultra late again. Conclusion: Sell the almost new, get the newest or get on the new trends for less, just wait a week or two. Look for a Rolex for example, but then you need to be sure it's not a fake watch.

4. Environmentally friendly to buy used products. Get a feel good feeling, that you did something for the environment. Don't throw away, a fully functional product (or as spare part) use it and do not waste valuable resources.

Conclusion: Being environmental can save and get you some money. Example, when repairing a house get used planks and tiles or even a kitchen.

5. Retro old trends reoccur again and again. Check your attic most likely you have some old stuff that you inherited, like antiques – furniture or even 60s cloths and gadgets that are getting in to fashion again. Conclusion: Some things that you might find worthless – are not! (Visit yard sales – can find some great stuff).

6. Global used goods market is growing. Sell ​​used goods to Africa, South America and the Middle East or even Europe, for example selling car parts, mechanical products, cars, buses, boats, antiques and so on. Conclusion: You need to get licenses (import / export) and get local contacts, but the reward might get huge since – volume exports might be possible. Look for a market and a product that is needed in the country but they have difficulties getting their hands on (spare car part for cars in Cuba).

Some further suggestions:

1. Goal – get one and write it down
2. Research the possibilities
3. Start small (as a weekend job)
4. Budget – you should have one
5. Act locally – easier to sell / buy
6. Look on the national international level – for more complex or shipable products or if you want to get a higher turnover.

When choosing a classifieds think about the following, to increase sales:

– local zip code search, absolute easiest to sell locally
– possibility to search nationwide, good for high end products
– site with optimized search, to avoid spending hours and hours searching
– pictures showing the ads
– easy to post + auto adding to your preferred social media site ie Twitter, Facebook etc.

Feel free to suggest new approaches to make / save cash by using classifieds or websites that help to do so

Use for example: http://www.americanlisted.com/

References: marketingcharts.com

– The percentage of all internet users to use classified sites grew 27 percent points from 2005 to 2009, while most other demographic groups' growth ranged from 25 to 29 percent points.

– Online 18-29 year olds saw a 30 percent-point increase in their use of online classified ads, and 30-49 year old internet users marked a 32 point increase in online classifieds use.

– Internet users ages 50-64 saw a 21 point increase

– Online seniors (ages 65+) saw the smallest increase overall: 13 percent points


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