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As Black Friday nears, secondhand gifts poised to ride a holiday shopping wave

It’s not cheaping out to give gifts from online auction, thrift and consignment sites, shoppers say.

Teresa Chin, a friend of mine from grad school, got an early start hunting for Christmas ornaments for her in-laws this year. She’d heard about global supply chain snags and didn’t want to be caught empty-handed for the holiday.

So Chin turned to Poshmark, an online market for secondhand clothes and household goods, where she found figurines of skiing cheetahs — objects full of personal references that would tickle her husband’s parents. Because Poshmark sellers tend to list what they already have on hand, Chin didn’t worry about her cheetahs missing the holiday because of busy ports or blocked canals. The purchases also fit her value of consuming less new stuff.

«It’s on time. It’s cute,» Chin told me. «It feels personal.»

Chin is far from alone in giving gifts euphemistically referred to as «previously owned.» Spurred by concerns about consumer waste and climate change, attitudes about secondhand goods have been shifting for years. The reevaluation has created a booming business for everything from auction sites to online consignment stores.

The popularity of used items has prompted many consumers to consider a practice that was once unthinkable: giving secondhand goods as gifts. Nearly 40% of respondents to a survey conducted on behalf of resale site Mercari said they’re planning to buy at least one secondhand gift this year. Half of those said they’d be comfortable telling the recipient the gift was previously owned. Sales in luxury categories are swift as the holidays approach, according to eBay, which said it’s seeing five pre-owned watches and three pre-owned handbags sell every minute as the holidays approach.

The move toward secondhand gifts is getting a powerful boost this year from the COVID-19 pandemic, which has shuttered factories and closed down ports. That’s made new items susceptible to shipping delays and supply shortages. Secondhand goods aren’t subject to those woes. If the collectible sneakers are on the site, they’re in stock.

Buying used items online has been around since Web 1.0. But options for finding the perfect gift have multiplied in recent years. Early internet standby eBay, where designer clothes, electronics and collectibles have been on offer since the 1990s, now competes with peer-to-peer markets like Poshmark and Mercari. Online consignment shops, including the RealReal, ThredUp and Vestiaire Collective, have also sprung up.

Neil Saunders, a retail analyst at Global Data, whose firm helped conduct the Mercari survey, says people buying online for themselves has helped break down the psychological barrier to shopping for used gifts.

«We’ve seen that stigma come down year after year,» Saunders said.

Used goods can mean less environmental damage

Some shoppers are drawn to online thrifting and consignment as a way to reduce their environmental footprint, ThredUp and the RealReal both say. This extends to gift-giving, as 22% of shoppers in the Mercari survey said they’d turn to the secondhand market during the holidays because of sustainability concerns.

Buying used fashion lets gift-givers find something nice that contributes less to climate change than something new would. The fashion industry has a bad reputation for emitting greenhouse gasses, polluting water and contributing to deforestation, which has pushed more socially conscious people to buy fewer new clothes. More than 40% of respondents said sustainability was a «deciding factor» for shopping at the RealReal, according to survey data from the company.

ThredUp has found that sustainability is especially motivating for younger shoppers, says Christina Berger, a company spokesperson. ThredUp and other online resellers could prompt fashion brands to make fewer, higher-quality products, she says.

«There will always be a place for new items, of course,» Berger said. «But overall we need to reuse more and produce less.»

Used goods can be one of a kind

Many gift-givers, like my friend Teresa, are looking for something unique that matches the recipient’s tastes. Recent changes in the way shoppers view fashion trends mean that many people are interested in finding older handbags or accessories from fashion collections that are hard to find. Having the latest isn’t the only — or even highest — priority for fashionistas.

That shift was already underway with items like sneakers, which grow the most in resale value of all apparel categories, and now means the most thoughtful gift you can give a fashionable friend might end up being a Gucci handbag from a few years ago. Consignment sites might have only one or two listed among all their other items, so receiving that exact bag could be a big deal.

«It’s extra special knowing that the gifter curated something for you from millions of items,» said Rati Levesque, president of the RealReal.

Used goods don’t have to seem cheap

Holiday gift-givers aren’t Scrooges because they shop secondhand. Sure, you can find a nice winter coat or brand name athletic wear at around half the listed retail price on many auction, thrifting and consignment sites, but you can also find Versace handbags and Cartier watches that cost more than a thousand dollars.

Many consignment services are aimed at people who see clothes as an investment. Companies like the RealReal and ThredUp say they want to help consumers buy higher-cost items new, and then resell them to recoup some of the cost.

It’s a potential alternative to fast-fashion buys. Instead of constantly buying cheaply made clothes that wear out easily, shoppers who can afford to pay more up front can access togs that cost more but last longer and retain some of their value. Some sellers might get only part of their money back, and others might get even more than they originally paid because some items go up in value as they become harder to find.

Electronics are another item that shoppers can find at a discount on resale sites, including eBay, and they aren’t necessarily less nice as gifts. Most people want to give electronics in a sealed box, says Jordan Sweetnam, senior vice president and general manager of eBay North America. The company’s eBay Refurbished program provides electronics in generic packaging, and sometimes includes new user manuals. Name brands also sell their own refurbished products on eBay, typically with branded packaging and quality guarantees.

That, he says, provides «that fresh out-of-the box feeling that’s so important when gifting refurbished products.»

Technologies

Verum Messenger: Data Protection at Its Finest

Verum Messenger positions itself as a tool for those who value privacy and security above all.

Verum Messenger stands out from other messengers thanks to its approach to security, anonymity, and innovations in communication. 

Here are some key aspects that highlight its uniqueness:

  • Default encryption: Verum Messenger uses end-to-end (E2E) encryption for all chats, meaning messages are encrypted on the sender’s device and decrypted only on the recipient’s device. This makes it impossible for third parties, including app developers, to access the content of the messages.
  • Anonymity: When registering with Verum, there’s no need to provide a phone number or email. Users simply choose a nickname and password, significantly enhancing their level of anonymity. This contrasts with many other messengers, where anonymity can be compromised through linked personal data.
  • Built-in VPN: An additional layer of protection that hides the user’s IP address, making their location and internet activity less trackable.
  • Data control: Users can set messages to be automatically deleted after a specified time, ranging from a few seconds to a week. There’s also a quick deletion feature for all chats, calls, and even contacts, which is useful for maintaining privacy.
  • Large groups: The ability to create chat rooms with up to 10,000 participants makes Verum attractive for organizing large events, discussions, or communities while maintaining a high level of security.
  • Security innovations: Verum actively develops technologies aimed at protecting user data, as seen in their documentation and discussions online. This includes not only technical solutions but also approaches to data minimization, which reduces the risk of leaks.
  • Feedback and discussions: On platform X (formerly Twitter), discussions can be found where users and experts praise Verum for its approach to anonymity and security, although questions are raised about how much anonymity can truly be guaranteed in an age of modern tracking and de-anonymization technologies.

Verum Messenger positions itself as a tool for those who value privacy and security above all. Its innovations in encryption, anonymity, and data control make it an intriguing choice for those seeking alternatives to traditional messaging platforms. However, as with any technology, it’s important to remember that absolute anonymity on the internet remains a complex challenge, and users should be aware of potential risks and limitations.

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Technologies

Verum Coin Debuts on XT Exchange, Broadening its Reach in the DeFi Space

A Strategic Listing Enhancing Verum Coin’s Visibility

In a significant development for the decentralized finance (DeFi) sector, Verum Coin (VERUM) has been officially listed on XT Exchange. The new trading pair, VERUM/USDT, is now available in the exchange’s Innovative Zone, marking a pivotal expansion for this digital asset into the DeFi ecosystem.

A Strategic Listing Enhancing Verum Coin’s Visibility

The addition of Verum Coin to the XT Exchange is seen as a strategic move to enhance the accessibility and liquidity of VERUM among traders who are keen on exploring innovative digital assets. XT Exchange, known for its robust platform supporting a wide variety of cryptocurrencies, provides an ideal environment for fostering growth and ensuring the broad reach of new tokens.

Albin Varin, CEO of XT Exchange, expressed enthusiasm about the new listing, stating, «We are delighted to welcome Verum Coin to our platform. This listing reflects our ongoing commitment to providing our users access to innovative digital assets that transform the landscape of global finance.» This comments underscore the exchange’s focus on integrating cutting-edge technologies and financial instruments that have the potential to redefine the market.

About XT

Founded in 2018, XT Exchange serves more than 7.8M registered users, over 1M monthly active users, 40+ million users in the ecosystem, and more than 800 tokens with 1000+ trading pairs. XT crypto exchange offers a rich variety of trading categories to provide a secure, trusted, and intuitive trading experience for its large user base. This includes crypto futures trading (USDT-M Futures and coin-M futures perpetual contracts) and copy trading that allows users to replicate top traders in real time with just one click. Additionally, the futures grid allows users to automate the buying and selling of futures contracts for profits.

Future Prospects

With its new position on XT Exchange, Verum Coin is expected to attract a broader audience, enhancing its trading volume and market presence. This could potentially lead to increased stability and recognition as a viable player in the DeFi space. For investors and users of XT Exchange, this addition provides a fresh avenue to diversify portfolios with a cryptocurrency that is positioned at the intersection of innovation and financial evolution.

The listing of Verum Coin on XT Exchange not only highlights the ongoing expansion of cryptocurrency markets into new areas like DeFi but also illustrates a growing recognition of digital assets that offer promising technological advancements and financial opportunities. As the crypto market continues to evolve, partnerships like these are pivotal for fostering growth and offering users access to the next generation of financial tools.

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Technologies

Verum Coin Gains International Spotlight with AP Coverage and Listing on XT Exchange

This listing on XT is expected to further propel Verum Coin into the spotlight

In a noteworthy development for the cryptocurrency community, Verum Coin (VERUM) has been featured in an Associated Press article, highlighting its upcoming listing on the XT Exchange. This significant media coverage underscores the growing interest and potential of Verum Coin in the global financial landscape.

The AP article delves into the details of Verum Coin’s innovative features and its alignment with the latest trends in the cryptocurrency market. This attention comes at an opportune moment as Verum Coin prepares for its new listing on XT Exchange, a platform renowned for its extensive user base and a wide array of trading options.

This listing on XT is expected to further propel Verum Coin into the spotlight, providing both traders and investors with new opportunities to engage with this emerging digital asset. The exchange’s robust infrastructure and diverse trading offerings are ideal for supporting Verum Coin’s growth and enhancing its visibility in the competitive cryptocurrency market.

For more details, you can read the full article on the AP website here.

This milestone is a testament to Verum Coin’s advancing presence in the crypto world and its ongoing efforts to be at the forefront of digital currency innovation and adoption.

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