Greece’s Surging Second-Hand Market

A burgeoning second-hand – or pre-owned – retail sector in Greece now occupies a prominent place in the stats published by the country’s statistical authority, overturning decades of disdain for “used” goods among most Greek consumers.

Younger generations of consumers who are more adept at “thrift shopping”, plus almost a decade of economic downturn, explain the sector’s emergence, which has brought Greece into line with a multi-billion-euro trend that has been blossoming for years in western Europe and North America.

According to a recent market survey by Focus Bari/YouGov, roughly one in two consumers in Greece has already purchased an item from a retailer specializing in second-hand goods, mostly clothing.

As well as apparel, pre-owned electronic goods, especially smartphones, were purchased by one third of consumers in Greece this year. Based on another survey, 49% percent of consumers in the country are positively inclined towards such purchases.

According to EL.STAT, the Greek statistics service, the specific retail sector in Greece was up 49.7% in the second quarter of 2023 compared with the corresponding quarter in 2022, posting a modest 8.92 million euros in turnover but with forecasts pointing to a rapidly increasing volume in the years ahead.