Market
05
Sep
2024
3
min read

Walmart expands secondhand marketplace further to compete with Amazon and eBay

Walmart, largest retailer in the world, is making bold moves in the eCommerce space by expanding its secondhand product offerings. The retail giant is adding pre-owned watches, collectible trading cards, and luxury beauty products to its online marketplace. This strategy aims to meet the growing consumer demand for sustainable, budget-friendly shopping, while directly challenging industry giants Amazon and eBay, according to recent research of ECDB. Walmart already has a large product range of used and refurbished electronics on their marketplace.

Sustainability meets profitability

In response to rising demand for eco-conscious shopping options, Walmart's expansion into the secondhand market taps into the ongoing sustainability trend. Consumers are increasingly opting for pre-owned items, which offer both environmental benefits and cost savings. This focus on recommerce also positions Walmart to attract new customers who prioritize sustainability.

Walmart’s growing marketplace

Walmart’s online marketplace has been a key growth driver, with sales increasing over 30% for four consecutive quarters. Categories such as pet products and beauty have seen annual growth rates between 20% and 30%, according to the latest data. By expanding its product range, Walmart hopes to offer a variety of price points and brands, including luxury names like Michael Kors and Cartier.

Despite these advances, Walmart's eCommerce net sales are expected to shrink by 11% in 2024, according to data from ECDB. Still, the company reported a 22% increase in U.S. online sales in the last quarter, and with continued focus on profitability and expanded offerings, Walmart could turn its eCommerce fortunes around by year-end.

Conclusion

Walmart’s secondhand and used product push offers a glimpse into the future of online retail, where sustainability, variety, and competitive pricing dominate consumer preferences. With its robust marketplace, Walmart is well-positioned to compete in this evolving landscape.

Interested in the global market for used electronics?

From now on, you'll never miss a thing and can easily stay up to date with the latest developments in the secondary market. Sign up today for the newsletter from secondarymarket.news. It's filled with the latest news, trends, developments, and gossip. Stay informed and don't miss out on anything!

Daily (except on Sundays), you'll receive the latest news from the global secondary market straight to your inbox after registering. This way, you'll always stay up to date with the latest secondary market developments and trends.

Sign up for our newsletter

Thank you for registering for the newsletter

From now on, you'll always stay informed and won't miss out on the latest trends and developments in the global secondary market for used electronics.
Oops! Something went wrong while submitting the form.
© 2024 Secondary Market News. All rights reserved.
Privacy & Cookies