Vinted expands into electronics. Will it compete with Back Market and Refurbed?

Vinted, which originated in Lithuania in 2008, has steadily grown to become a leading platform in the secondhand market. The platform has an average of 5 million daily active users, a testament to its popularity and wide reach across Europe. This expansion into electronics comes as no surprise, following the success of a small selection of used electronics previously available on the app. However, the company assures its users that fashion will remain its core offering.

The new electronics category is expected to further boost Vinted's user engagement, as the platform continues to innovate and diversify its product offerings. This move aligns with the broader trend of consumers seeking sustainable shopping options, as Vinted continues to lead in the secondhand market space.

Comparison

In comparison, Back Market, along with Refurbed, stands as one of the largest refurbished electronics marketplaces in Europe, reporting approximately 186,000 daily sessions. Both platforms are part of a growing trend where consumers increasingly favor secondhand and refurbished items, driven by cost savings and environmental awareness. However, a key difference is that Back Market and Refurbed exclusively allows merchants on its site. In contrast, Vinted primarily prohibits commercial sellers, with the exception of a select number of Pro Sellers. To become a Pro Seller on Vinted, a member must meet specific eligibility criteria, such as being registered as a business (e.g., sole trader) and only selling items from designated categories.

Competition

Additionally, Back Market and Refurbed enforce stringent criteria for the products sold on their sites, including requirements for a minimum warranty period, battery capacity, and customer support. Vinted, being primarily a consumer-to-consumer (C2C) platform like eBay, is more relaxed about such standards. However, it's worth noting that if Vinted shifts its focus fully towards electronics, both Refurbed and Back Market could face a significant new competitor. What if Vinted begins offering new services, such as ‘certified’ products and trade-in options? This potential shift could reshape the competitive landscape of the refurbished electronics market.