Second hand is not just for students

It used to be the case that second-hand items were only good enough for those who couldn’t afford to buy new. The feeling of opening a crisp, shiny new book was something that many weren’t willing to trade for a cheaper price.

Jo Roberts

But Marketing Week’s latest trends analysis research shows that second hand is now acceptable for every demographic. Exclusive research by Lightspeed Research has highlighted that every single adult will now look at buying something second hand. This is in stark contrast to previous years. Almost one in five (16%) only started buying second hand goods in the last year.

It just shows that you need to keep a close eye on consumers, because habits and opinions change as swiftly as the season. People are also quick to do their own research. While people are amused by price-comparison website Compare The Market’s now infamous “Compare the Meerkat” advert it is not simply an entertaining skit being discussed across the land. It’s a valuable tool for consumers that they are using to make decisions about brands.

More than half (59%) of respondents to our Marketing Week web poll have used a price comparison website to help make a decision on switching a financial or utilities supplier this year.
Brands in this sector need to think carefully about this as they plan how to attract consumers to their products and services.

Similarly, supermarkets keen to know what consumers think of their price-cutting claims should take note the results of the latest study by the British Market Research Bureau and Associated Newspapers. Figures show that 37% of “middle Britons” simply don’t believe the cost claims.

To read more on these stories, and to read the latest good news about interim marketers’ pay rates, click on the links below.

And remember, the Marketing Week poll asks for your views every week, so log on to www.marketingweek.co.uk to register your vote. This week’s question is “Do you think that Channel 4’s decision to axe Big Brother is right from a commercial and creative point of view?”

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