Navigating the Ecommerce Landscape: A Tale of Second-Hand Surges and Temu’s Impact
The world of ecommerce is currently experiencing what can be termed as an “eco-divide.” On one side, there is a notable surge in second-hand marketplaces, aligning with a heightened focus on recycling and sustainability. Concurrently, there is a rise in the fast consumption model, exemplified by the Temu phenomenon. These divergent trends are outlined in the latest edition of the global marketplace map, a survey conducted by Yocabè, a platform that aids brands in selling on marketplaces.
Leading the second-hand sector are marketplaces such as Vinted, Wallapop, and Depop, contributing to the trend known as “recommerce,” which is synonymous with sustainability. Vinted, having entered Italy in 2020, has now amassed an impressive 5.8 million monthly visits. France stands out as the European stronghold for Vinted, with a staggering 25.8 million monthly visits.
In the European Union, Spain demonstrates robust participation in the second-hand market, with Wallapop.com amassing nearly 22 million monthly visits, while Vinted.es hovers around 4.6 million. Globally, the United States emerges as the epicenter of the second-hand product demand, with platforms like poshmark.com boasting 51 million monthly visits, thredup.com 14 million, and therealreal.com 13 million.
However, the landscape shifts with the rapid rise of Temu, a Chinese e-commerce platform that disrupted marketplace rankings upon its European debut in 2023. Having launched in the United States in 2022 with an average of 104 million monthly visits, Temu.com entered Italy with 14 million monthly visits, surpassing last year’s standout, Zalando, and Manomano.
While Vinted maintains its stronghold in France, Temu’s influence is evident with 16 million monthly visits for the new Chinese marketplace. In Germany and the United Kingdom, Temu outpaces Vinted with almost 30 million and 28.5 million monthly visits, respectively, compared to Vinted’s 9 million and 10.4 million.
The United States serves as a unique market where both Temu’s savings-driven model and the sustainability of second-hand products coexist. The Temu app, with a significant 27% download share, sees an average of 104.92 million monthly visits.
Beyond Temu and Vinted, the marketplace map reveals a global decline in user visits, attributed in part to the lingering impact of the war in Ukraine, leading to increased prices and diminished consumer confidence. Despite this, the first half of the year indicates a potential recovery, particularly evident in countries like Italy (projected 13% year-on-year digital commerce growth in 2023), France (3% online traffic increase), and Spain (11% growth).
In 2023, Europe solidified its position as the third-largest e-commerce market, generating revenues worth $631.9 billion. With a projected annual growth rate of 9.31%, revenue is anticipated to reach $902.3 billion by 2027.