Studies revealed a flourishing circular economy in Australia, indicating that 43% of the population had purchased second-hand items in the past year, while 35% had engaged in selling second-hand goods during the same period.
Positive attitudes toward acquiring pre-owned items were evident, with 40% expressing the belief that buying second-hand has become mainstream and is nothing to be ashamed of. Additionally, 37% expressed pride in buying second-hand items, citing environmental benefits as a key factor.
The primary motivation for purchasing second-hand items was cost savings, as reported by 3 out of 5 respondents, followed by the desire to give products a second life (43%) and a commitment to sustainable shopping practices aimed at reducing waste and landfill.
The 2023 PayPal Garage Sale Trail Research Report survey of over 1000 Australian consumers found that 24% of Australians are increasingly turning to second-hand purchases due to rising prices, and 31% expressed the intention to further embrace second-hand shopping if economic conditions worsen.
Fortunately, financial relief isn’t limited to buying second-hand items alone. Half of all Australians (49%) claim to have unused or unwanted items at home that they could sell, estimating a potential average earnings of $1,681.
Cashless app on the rise
When considering Australians’ preferences for second-hand transactions, it appears that the future of the circular economy may lean towards a cashless system. A significant majority, three-in-five Australians (57%), claim to be virtually cashless, using physical currency for only 10% of their transactions, with 14% having entirely abandoned the use of cash.
Concerning garage sales specifically, approximately one-in-five (16%) express a higher likelihood of making a purchase if cashless payment options were available, and this figure increases to over a quarter (26%) among the Gen Z demographic.
In terms of payment methods, two-in-five (40%) find QR codes, such as those utilized for PayPal’s cashless in-person payments, easy to use, and a quarter (26%) indicate feeling safer buying second-hand when PayPal is offered as a payment option.
Garage Sale Trail participants who have a PayPal account can facilitate and receive touch-free QR code payments. No specialized equipment or additional payment methods are required; only a smartphone with the PayPal app is necessary.
The Garage Sale Trail is set to take place nationwide on November 11 & 12 and 18 & 19, marking their third consecutive year collaborating with PayPal Australia.
The 2023 PayPal Garage Sale Trail Research Report sheds light on Australians’ sentiments regarding second-hand shopping, particularly in the context of the ongoing cost-of-living challenges.
Garage Sale Trail Co-Founder and Director Andrew Valder said “This is a challenging time for most Australians, but I’m thrilled that buying and selling pre-loved stuff is helping so many manage their budgets, while helping the environment,”
“Last year more than 300,000 Australians shopped and sold at more than 15,000 garage sales across the country, diverting more than 3 million kgs of goods from landfill and maximising the energy and resources used in their production.”
Garage Sale Trail, a not-for-profit social enterprise, was established by friends Darryl Nichols and Andrew Valder in Sydney. Its mission is to educate Australians about the significance of reuse and the necessity for individuals to take responsibility for the environmental impact of their consumption habits. Simultaneously, the initiative aims to foster stronger, more connected, and resilient communities.
Garage Sale Trail has evolved from a grassroots concept initiated in Bondi Beach in 2010 to a nationwide movement, with support from over 80 councils. It is backed by key partners such as PayPal, the NSW Environment Protection Authority, the Queensland Government, and Sustainability Victoria.
Circular economy – Further reading
A Circular Economy Handbook: How to Build a More Resilient, Competitive and Sustainable Business by Catherine Weetman
The Circular Economy: A User’s Guide by Walter R Stahel
Buy And Sell Second-Hand Goods: How To Turn Secondhand Items Into Fast Cash & Long-Term Investments: Methods To Make You Money, 2021 by Zoila Monger
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