Almost a quarter, 24%, of respondents in Latvia would choose pre-owned goods over new ones when planning to buy, for example, a mobile phone, computer, or tools for themselves or a family member. Meanwhile, 57% reported believing that buying pre-owned could help them save money, according to a survey by the Latvian fintech company DelfinGroup.

 

Overall, 6% of the respondents said they would choose pre-owned goods over new when planning a purchase, and 18% said they would rather do so. Meanwhile, 51% stated they would prefer to buy new goods rather than pre-owned, and 25% indicated they would not choose a pre-owned product.

 

Asked whether buying pre-owned goods could help save money, 16% of the answers were affirmative, and 41% of the respondents believed it likely to be true. 27% of respondents said "no", while the rest stated that they did not care and did not know if buying pre-owned could help them save money.

 

"With the growing popularity of sustainable lifestyles, people’s attitude towards pre-owned goods are gradually changing, and an increasing number are beginning to recognise the long-term benefits, because if you choose a pre-owned product, you may be able to afford a higher-quality one. Through one of its well-developed brands, the Banknote circular retail shop, DelfinGroup is also working consistently on changing people’s habits and fostering longer circulation of goods that cost less in the end. If you have a budget of 100 euros, you can buy a high-quality, slightly pre-owned product from a good manufacturer that is known for durability and long service life, or you can use that money to buy a new product, but from a manufacturer that offers lower quality," Didzis Ādmīdiņš, DelfinGroup Chairman of the Management Board, explained.

 

He added that in the context of the circular economy, the pre-owned market is growing worldwide, becoming a conscious and sustainable choice among consumers, with Latvia moving towards that trend. "The survey shows that a majority of people in Latvia know that buying pre-owned goods can also help save money, so it is only a matter of time before recycling becomes a widely accepted practice here," D. Ādmīdiņš said.

 

DelfinGruop operates the country’s largest circular online retail shop, as well as more than 90 Banknote branches in Latvia and Lithuania. Consumer habits show that people prefer to buy pre-owned computers, household appliances, home furnishings, mobile phones, watches, tools, construction products, game consoles, sports goods, photo and video gear, and other goods with a warranty of up to 24 months. Demand continues to grow, generating 3.7 million euros in the sale of pre-owned, slightly pre-owned, and new goods in the first quarter of this year.

 

The survey was conducted by DelfinGroup in April and May 2024 in conjunction with the research agency Norstat Latvija, covering 1006 economically active residents of Latvia.

 

About DelfinGroup

AS DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia and Lithuania. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.
 

For further information, please contact:

Linda Eltermane,
DelfinGroup Head of PR
Phone: +371 28700457
E-mail: [email protected]