Thanks to @Verneri_Pulkkinen for the answer and thoughts. Something special is starting to happen in the Finnish consumer’s canvas. An interesting topic for consideration. Perhaps the used goods trade is one of the reasons behind it.
About the used goods trade: I quickly checked a couple of facts, and it seems that flea markets are still a small pastime. Let’s take JUST one relatively new player, Vinted, that over 15-year-old Lithuanian flea market start-up, as an example:
- turnover “only” slightly over €800M. But this is done with approximately a 5% commission.
- however, an estimated €10 - 12 billion in trade is already conducted through the platform Vinted’s winning formula: Fashion, logistics, payments, and the future of reCommerce - TyN Magazine and https://www.sharetribe.com/how-to-build/how-does-vinted-make-money
- how else does this €10-12 billion in consumer-to-consumer trade appear in official statistics for this marketplace?
- And if we assume a 50% value for Vinted products compared to a “new product”, then as a new goods marketplace, we would be in the €20 billion + category.
- that €20 billion is already quite significant when compared to, for example, H&M €20 billion, Zara €28 billion, and Lindex €0.6 billion.
My conclusion –\u003e a reasonably sized flea market startup, and with figures of a scale that are starting to somehow affect the volume/profitability of “new goods trade”. And for example, Vinted has had double-digit growth in recent years - a different league than new goods sellers.
A quick check of the Vinted example revealed that the most surprising thing for me was how many new products are sold there, complete with price tags. For example, well over 1000 new Lindex products were for sale - quickly observed at about half the Finnish retail prices.
Inspired by this quick investigation, I also conducted a small WhatsApp consumer survey. What was interesting in this sample of about twenty (20-50 year old) users was that IF you had tried Vinted, it had simultaneously become your primary clothing store. Not for everyone, but for its users, it was the 1st choice when acquiring clothes.
This topic even escalated to such an interesting point that I will have to consider/research the matter even more deeply in the Lindex Group (Stockmann Group) - Shares - Stock Investing-thread. Lindex’s current offering in this category is quite weak (with one store?!?) ( Used children’s clothes – buy and trade with us | Lindex VS Vinted –\u003e Catalog –\u003e Brand: Lindex –\u003e Condition: New, with price tag, over 1000 products available at quite good prices. @Rauli_Juva, has Stockmann’s management commented on the second-hand market as a new/significant competitor?
Will this become a consumer business change that first came gradually, until it suddenly arrived?