Also, the challenge second-hand suppliers may see this year comes from the nature of Christmas itself
According to GlobalData, logistic bottlenecks and a shortage of HGV drivers are set to disrupt toy supplies this Christmas, leading to potential price hikes and limited stock for consumers.
After a challenging period, wherein 37% of Brits reported that their budget has reduced in the last year, many may turn to second-hand toys in their Christmas stockings as a more affordable and sustainable option, says GlobalData, a leading data and analytics company.
Besides, GlobalData’s latest consumer survey revealed there has been a massive uptick in interest in second-hand or ‘used’ products over the last year, with key present categories, such as toys, beauty products and electrical items, finding favour in the second-hand market among young professionals and students.
The supply disruptions, first witnessed in the UK’s grocery sector, are also likely to feed into other fast-moving consumer goods industries. For example, cosmetics, which are another popular gifting item during the festive period, often need specialised storage facilities that are temperature controlled and as a result also benefit from short transportation times in order maintain the freshness of products.
We’ve reported that Millennials are the UK’s leading entrepreneurs.