Second-hand is great for your pocket.

When an item that is no longer used is sold secondhand, it delays the generation of waste and, no less importantly, eliminates the need to manufacture a new one, thereby saving raw materials, energy, and greenhouse gas emissions. However, increased environmental awareness isn't the only motivation behind the growth of the secondhand market in Spain. There's another compelling reason: the income earned by the seller and the money saved by the buyer.

A study by the reused goods buying and selling platform Wallapop puts the numbers on the table. The report, prepared in collaboration with the digital business school Isdi, estimates that thanks to the purchase and sale of reused products, users of secondhand platforms generate an average additional amount of €1,112 per person annually, the equivalent of an extra paycheck for an average Spanish gross salary of €20,767. Further comparisons: according to Isdi's calculations, this extra income is equivalent to 15 months of electricity bills, a year and a half of telephone or internet bills, 10 months of gas or transportation expenses, or three months of shopping baskets.

Given these figures, Wallapop concludes that "reuse is presented as a facilitator that allows Spaniards to maintain the lifestyle they want, in addition to optimizing their household finances, covering additional expenses, and even generating savings." Specifically, 71% of people who receive savings or money from the sale of recycled products use it to cover additional expenses, such as leisure activities, travel, or buying treats or gifts. Furthermore, 31% allocate this income directly to savings, and 14% even say it is key to making ends meet.

Fact The main motivation is savings for 64% of respondents, followed by the intention to be more sustainable

The buying and selling of secondhand items has skyrocketed since the COVID pandemic. According to the secondhand goods buying and selling platform Milanuncios, half of the population claims to have turned to secondhand goods during the pandemic, and after COVID, this figure increased to 70% of Spaniards who say they have used this alternative at some point in these five years. Millennials (those born between the early 1980s and early 2000s) and Generation Z (born between the mid-to-late 1990s and early 2010s) are the generations that have used the secondhand market the most. And why do they turn to this market? According to a study by Milanuncios, the main motivation is savings (64%), followed by the desire to be more sustainable (46%) and the search for exclusive items that can only be found secondhand (25%).

Read also 2024 Income Tax Return: Do I have to declare sales on Wallapop, Vinted, or Milanuncios this year? Albert Aragonès​Barcelona

Thanks to the growth recorded since COVID-19, Milanuncios estimates that the secondhand market in Spain is worth €8.525 billion. Wallapop is more optimistic in its calculations. The latter platform estimates the business at €13 billion, equivalent to 0.86% of the national GDP. These figures make secondhand one of the main drivers of what is known as the circular economy and a key ally for the environment. And there is still room for improvement. Wallapop points out that "the market potential could be even greater if we consider that, on average, Spaniards say they have products at home that they don't use and could sell for a value of €404."