Brits are battling rising Christmas costs by turning to more online marketplace selling than ever before, according to new research.
Almost half (45%) have taken up online selling to help pay increased winter living expenses, with more than a quarter (28%) saying they have sold more items in the previous 12 months than they had done in the past.
Gen Z and millennials (18-42 years) are the biggest online marketplace sellers (65%) – but there is a rise in ‘silver sellers’ (55 years+), with over a quarter (27%) selling an item online this year.
One in 12 (8%) admit they have sold an item online for the first time, with almost half (49%) saying online marketplace selling helps pay increased winter living expenses.
Others opt to put the extra income aside to cover unplanned expenses (22%), deposit into saving accounts (22%), going on holiday (19%) and pursuing passion projects (18%).
The survey, commissioned by Post Office, went on to find that hybrid working is a major catalyst behind the recent marketplace selling boom – with half (49%) saying that it has made it far easier.
Timi Merriman-Johnson, an award-winning financial content creator, podcaster, author and founder of UK-based financial education company Mr MoneyJar, said: “As prices continue to soar, embracing reseller platforms to earn extra cash or to become full-time resellers, can help you save for something special or cover additional Christmas expenses.
“My first piece of advice is to get started, experiment with selling different items and choose the right delivery partner.”
Sellers report greater flexibility to drop off items at delivery points when it suits (41%), using previous commuting time effectively (32%), having more time to respond to buyers (2%), feeling less tired (2%) and having the time to make items to then sell online (24%).
Despite hybrid working inspiring a boom in marketplace selling, 55% say they would not tell their boss if they were doing so – even when 45% say it is difficult to keep up online selling alongside their day job.
But bosses may be getting a good deal, with those who sell online acquiring a host of useful skills that can benefit the workplace.
The new study comes as Post Office enables customers to be able to choose other parcel carriers over the counter for the first time in its 360-year history, building on this year’s ‘Parcels Online’ initiative.
Post Office’s Neill O’Sullivan said: “We feel the move will be significant in streamlining the UK’s booming online marketplace selling sector.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here