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Aug 11

More people are selling unwanted items to make money

Reading Time: 2 mins

New research from mobile phone service provider Vodafone has found almost 10 million people in Britain have traded in or sold their unwanted items to make extra cash. At a time when inflation is at a 40-year high and the cost of living is causing a huge strain on our wallets, mobile phones, clothes and even vehicles are being sold for money.

The poll of 2,000 people showed a quarter of adults are selling unused items from their homes to get some extra cash in their pockets. 20% of respondents have sold laptops, 19% have sold CDs and 18% of those who were surveyed have sold old tablets. Games consoles were also an item being sold by 15% of those who responded.

Nearly one third of those who said they had sold something of theirs in the last 6 months (31%) said it was their first time selling something preloved in order to make money from it. The survey also found that people selling their unwanted goods for the first time had contributed to a 26% increase in the number of people trading in their second-hand items in the last six months. This also resulted in a 72% rise since 2021, with 9.7 million people trading in items compared to 5.6 million last year.

Almost one third of people (32%) suggested their motivation for selling their unwanted items was to declutter. Just over one third of respondents (36%) said it was due to wanting to help the environment. Over a half of those who responded (57%) said the biggest driver for them was financial gain.

On average, sellers reckon they have made £221.50 so far this year, with their current unused items estimated to cost almost £300.

 

Have you sold any of your unused or preloved items recently? We have a great eBook in collaboration with GiffGaff all about having a Clear Out For Cash! Check it out here.

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