Consumers turned to cheaper and used products amid budget constraints.
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Second-hand shopping has shown a 34 percent increase in recent times. At the same time, demand for cheap food products has surged. Data reveals that household purchasing power has weakened. Consumers have begun meeting their basic needs within budget constraints. In the economic downturn, households are making price-sensitive choices in spending preferences. The commercial and retail sector is closely monitoring this trend.
Second-hand shopping increased by 34 percent compared to the previous year; consumers turned to used products and budget brands due to tightening budgets. As household purchasing power weakened, the preference shifted from new product purchases across a wide range from clothing to electronics toward second-hand markets.
If your spending habits are changing under budget pressure—shifting toward smaller packages, budget brands, second-hand products—this is a sign that the entire economy is weakening, and you should adjust your expectations regarding income growth and employment prospects accordingly. While retail brands and e-commerce platforms are preparing for this trend, the weakening consumer power reflects the economic contraction taking place.