Although society is increasingly talking about the circular economy, promoting the reuse of things, the overwhelming majority, or 72% of people in Latvia still keep things in their households that have outlived their useful life. Moreover , only 15% of respondents tend to sell such items and 12% – donate them to charities, according to a survey* conducted by Latvian fintech company DelfinGroup.

Meanwhile, 13% of the respondents confidently answered that they do not keep such things at home, while 13% stated - rather not. A small part of the respondents or 1%, do not know whether they have working devices that are way past their time.

"The data of the survey show that the way our society handles pre-owned goods is still forming. People continue to keep things in their homes that are not used and could actually be put back into circulation, maximising the value of the goods and increasing their life cycle. Overall, society benefits from the re-circulation of goods in at least three ways. Firstly, if a thing collects dust in someone's home when it is no longer in use, it can be sold for financial gain, while freeing up space at home. Secondly, the goods sold to someone else may still be useful, for less money. And finally, the circulation of new goods is reduced, which leaves a smaller ecological footprint. As a whole the world is moving towards a sustainable and greener way of life, and engaging in activities related to circular economy can contribute to future generations,” explains Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup.

The data of the survey also show that at present people mostly dispose of unwanted items by giving them to family and friends, while 16% of respondents say they do not dispose of such goods and continue to store them at home. Only 15% give things a second life by selling them, but 12% of respondents throw things away and the same percentage donate them to charities. "Currently, as we are experiencing changes, new habits regarding the further handling of pre-owned things are still forming. In order for habits to strengthen, we recognize that it is important to create fitting and relevant infrastructure and system that would motivate the society to become an important part of the circular economy and get involved. For this reason DelfinGroup has developed another way - Banknote format offering both in person and remote opportunity to sell or buy useful things for secondary use, receiving a guarantee for them. Looking at the products offered by Banknote, we see that jewelry, smartphones, portable computers, work tools, audio and video equipment, sports equipment, watches, art and interior items and other products dominate most often," adds D. Ādmīdiņš.

*The survey was conducted in February 2023 by DelfinGroup in cooperation with the research agency Norstat Latvija. 1008 respondents from all over Latvia took part in the survey.

About AS DelfinGroup  

DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company 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. On average, 35 thousand loans are issued monthly and serviced by a professional team of more than 300 DelfinGroup employees. The company has a total of over 400,000 registered customers. 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's IPO in 2021 attracted almost 6000 new shareholders. The company regularly pays dividends to its shareholders. In 2022, the company's net loan portfolio grew to EUR 67.4 million, while its EBITDA reached EUR 13.1 million, with profit before taxes of EUR 7.3 million. The company's sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy. The company has been profitable every year since 2010.

For further information, please contact:

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