India’s second-hand economy will grow fast

Significance

As the economic fallout of COVID-19 hits incomes and livelihoods, business-to-consumer (B2C) and consumer-to-consumer (C2C) transactions in the second-hand sector look set to rise. Many companies are coming under pressure to help ensure a ‘green recovery’ -- post-pandemic economic revival that is environmentally sustainable.

Impacts

• Greater private investment in firms following 'recommerce' models will help the second-hand sector to expand.
• Popularisation of second-hand purchases by leading brands will help increase consumer confidence in such transactions.
• Waste flows to landfill will not be significantly reduced without government legislation.