Video: B.C.’s 2nd hand economy worth big bucks

We live in one of the most beautiful places in world, but B.C.’s widening affordability gap is making it more difficult to make ends meet. A recent Vancity report, Thrift Score: An examination of the driving forces behind B.C.’s second-hand economyfound that 83% of British Columbians buy second-hand goods, spending an estimated total of $1.05 billion annually. And 65% who buy used goods, do it to save money or access high-quality goods at a lower cost.

The millennial affect: sell to make money

Thrift Score also highlights that while millennials are less active (93%) in the second-hand economy than the average British Columbian (97%), they’re more likely to sell used goods to make money.

More than half (52%) of B.C. millennials polled say they’re experiencing financial insecurity and/or employment uncertainty.

Watch this video to find out how affordability is driving us to second-hand.

Why do you buy or sell second-hand goods? Join the conversation on Twitter by using #GoodMoneyBlog.

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