‘Rising cost of living will test whether shoppers prioritise purpose-led purchasing over price’

The UK’s record-breaking heatwave is a harsh reminder of the impact of our behaviour on the planet.

Many industries, including our own, must stop and think. Nowadays, shoppers are more aware than ever that purchasing decisions have consequences, both good and bad. The impact of overconsumption is impossible to ignore.

This summer, eBay partnered with reality TV show Love Island to supply second-hand clothing for the contestants to wear for the eight-week run. For fans of the show, it signalled a complete change in direction, moving from-fast fashion brands to second-hand.

A move like this wouldn’t have been possible a few years ago, but it demonstrates the step change that has happened in our industry towards pre-loved goods and circular shopping habits.

The rise of second-hand fashion

The show concluded on August 1 and since we announced our partnership with Love Island, searches for pre-loved fashion have soared by 700% on eBay UK.

Love Island has demonstrated that the very idea of what’s fashionable is changing. Second-hand is no longer the second choice: it can be stylish, eco-conscious, aspirational and good value. Many retailers already know this, but it’s high time this new type of shopping became our norm. 

Our partnership with Love Island isn’t going to solve the problem, but we certainly hope it signals to shoppers what’s to come.

Last month we released our annual Shop for Change report, which found that 65% of people stop and think about sustainability before making a purchase. Four in 10 even said that some, or most, of their purchases are now from brands that give back to society or the planet.

It is a positive move in the right direction, but the rising cost of living will be the biggest test of whether shoppers prioritise purpose-led purchasing over price. Sustainability media organisation edie found in April that 36% of consumers said their choices were mainly driven by budget – up from 24% just six months ago.

It is a widely held view that consumers are more likely to abandon their ethics in pursuit of value for money in times of economic upheaval. According to global health and hygiene business Essity, 64% of people say the rising cost of living is making shopping sustainably impossible. 

While the cost of living is making it harder for people to shop with purpose, the intention to do so is still as strong as it ever was, if not stronger. 

Our report also found, for example, that 50% of people want to shop more regularly from brands that clearly prioritise ethics and sustainability.

Of course, it’s imperative that we offer shoppers value for money in the coming months. But it’s even more important that we as retailers do not assume that customers don’t care about sustainability, and actively enable them to shop with purpose without compromising on price.

All too often we conflate sustainable shopping with pricey, higher-end brands and ignore the myriad ways consumers can shop better without blowing the budget. As retailers, we need to make it easier for our customers to make choices that help the planet and their purse strings. It is all about making sustainable options the good value choice.

“It’s important that we as retailers do not assume customers don’t care about sustainability”

There are a number of ways to do it and many retailers are already paving the way. Retailers can make it easier for consumers to shop second-hand over new, which is always a better value option – think Levi’s resale platform, allowing customers to sell their old jeans back to the brand, offering value to buyers and Levi’s alike. 

Or Mulberry’s exchange programme, which gives buyers lifetime servicing and repairs on handbags, extending the lifespan of goods and giving shoppers longer-term value. 

Retailers should also be thinking seriously about working with platforms to sell end-of-season or dead stock at a discount – helping to solve a big cost issue for retailers, while offering better value products for consumers.

Options like these are a win-win for retailers and customers, offering cost savings to buyers and helping protect retailers’ bottom lines, while extending the lifecycle of many goods.

We must invest in price and purpose equally if we are to sustain this growing movement of purchasing with purpose. Some brands have managed to toe this line well – Ikea, for example, remains affordable but has demonstrated its commitment to sustainability.

There are lessons to be learned here for the rest of us. Those retailers that can show both value for money and purpose will be best placed to succeed now and in the long term.

It is the only way to protect our planet – and crucially our businesses – for the future.