26% of French people intend to buy at least one second-hand or reconditioned product for their end-of-year purchases

Published on 03/12/20

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Croix, December 4th 2020 – Oney, an expert in payment and consumer credit solutions and a partner of more than 500 (e)merchants in Europe, has published a study conducted with Harris Interactive [1] which confirms the desire of the French to adopt a more circular consumption pattern. 26% of them declare that they intend to turn to second-hand or reconditioned products for some of their year-end purchases – a trend that Oney, a major player in accompanying circular retailing for several years now, also observes on a daily basis.

[1] Survey Harris Interactive, Oney “Holiday season and second-hand shopping”, conducted online from 24 to 26 November 2020, sample of 1,006 people representative of the French population aged 18 and over.

Circular consumption: a fundamental trend in the run-up to the holidays

More than one in four French people (26%) intend to buy, at least, one refurbished or second-hand products for the end-of-year festivities. This is a trend which is increasing as 65% of them will buy this type of product for the first time this year. More generally, 57% of French people declare they have bought second-hand or reconditioned products in 2020, and for 16% this will be the first time this year.

French people who bought second-hand or reconditioned products in 2020 (50%) estimate that they will have spent an average of 255 euros over the year (excluding vehicles). Price is the primary motivation for 86% of them. In second place, 78% of French people make this type of purchase out of conviction and for environmental reasons. This shift had already been perceived by a study carried out by Oney in February 2020

This circular consumption also generates an increase in their purchasing power since the French people who sold second-hand products in 2020 (43%) estimate that they will have received an average of €206 this year.

 

Oney, a privileged partner for circular economy retailers

The surge in purchases of refurbished and second-hand products is also a phenomenon in Oney’s activities. Indeed, Oney, the French leader in fractional payment in France, points out that the volume of purchases made using its split payment solution (3x4x Oney) in the circular economy sector has almost doubled in one year (+94%) in France.

For many years, Oney Bank has been committed to give everyone the ability to improve their consumption by supporting circular merchants. To this end, throughout Europe, Oney Bank is deploying its solutions to a growing number of retailers in the circular economy. A few examples of partnerships with companies whose activity is wholly or partly dedicated to circular consumption: in France: BackMarket Electro Dépot, Selency, Vestiaire Collective, Happy Cash and Kiabi, in Italy: Trendevice, Joojea,…; in Spain: BackMarket… Moreover, for several years, Oney has been supporting Showroomprive.com (France, Spain, Belgium, Italy) and Veepee, two major companies which give a second chance to unsold goods, thus limiting waste, and offer reconditioned product sales.

For Jean-Pierre Viboud, Oney’s Chief Executive Officer, “We are proud to pursue an ambitious social policy to help everyone consume better. Our commitment is reflected in our partnerships with merchants in the second-hand economy, whether they are (e)retailers or marketplaces, in France and in Europe. The movement that Oney is encouraging with its (e)retailers will be continued and amplified in the coming months with the announcement of new partnerships”.

 

A social policy for a fairer, more humane and sustainable world

Oney works for many years to have a positive impact on the world and has deployed a social policy integrated into its business model to meet environmental and social challenges. This policy revolves around 4 major commitments: developing the employability of Oney’s 2,600 Talents, placing people at the heart of the digital transformation, encouraging better consumption and respecting the Paris Climate Agreements.

On this last commitment, Oney has set itself the objective of decreasing its carbon footprint and has set up a path to reduce its emissions in compliance with the Paris Climate Agreements. In this context, one of the first actions: 100% of the electricity consumption of Oney’s subsidiaries will be covered by renewable energy guarantees as of January 2021.

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Contact Presse – Oney

Camille Gerardi

03 28 38 72 05 / cgerardi@oney.com

 

Contacts Presse – Agence OmnicomPR Group

Rama Sall

06 74 10 93 70 / rama.sall@omnicomprgroup.com