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 economy, found 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.