Pre-loved is much loved: SEA, HK millennials buy used for sustainability | WARC | The Feed

Pre-loved is much loved: SEA, HK millennials buy used for sustainability

The majority of millennials (95%) in Southeast Asia and Hong Kong feel that purchasing pre-owned items is more sustainable, with 50% saying that they felt very strongly about this, according to the Millennial Motivations and Buying Behaviours Online report by IAB SEA+India and Carousell Media Group.

Why it matters

The global trend of ‘recommerce’, or the buying and selling of pre-owned items, is accelerating in Southeast Asia and Hong Kong region as it feeds two key needs of consumers – the demand for sustainability and the hunt for a good deal – thus creating fertile ground for retail media.  

Four findings

• Millennials care more about social issues, such as sustainability, social responsibility and climate change compared to over-35s.
• Over-35s are more motivated by promotions and sales when buying a luxury item, while under-35s will save for a particular item.
• Bags and wallets is the most popular luxury category across the region, followed by shoes, jewellery and accessories.
• Gaming, mobile, gadgets or accessories is the top category in electronic items, followed by computer accessories and home and kitchen appliances – categories that facilitate entertainment, communication, virtual working and cooking as people spend more time at home due to COVID-19. 

Quote

“Recommerce has become synonymous with sustainability and this research demonstrates how important this has become to young people across the region. This presents a unique opportunity for brands to win the hearts and minds of this core consumer segment around issues they care deeply about” – JJ Eastwood, Managing Director, Carousell Media Group.

Background

The Millennial Motivations and Buying Behaviours Online across Southeast Asia and Hong Kong report by Carousell Media Group (CMG) and IAB Southeast Asia and India (IAB SEA+India) was conducted across five Carousell Group’s markets – Singapore, Hong Kong, the Philippines, Malaysia (for both Carousell and Mudah.my platforms) and Vietnam (Cho Tot) – with over 3,500 respondents.

Sourced from IAB SEA+India