Understanding the Determinants of Secondhand Goods Buying Decisions: A Young Adult Consumers’ Perspective

Abstract

This paper delves into the influence of consumers’ perceptions of secondhand goods, encompassing factors such as perceived image, popularity, love, and loyalty on purchasing decisions within the retail market ecosystem, particularly in secondhand outlets. Drawing data from university students in Ghana, a demographic highly susceptible to secondhand goods in retail markets, we employ structural equation modeling techniques. The findings reveal that, within the context of retail markets, young adults’ perceptions significantly impact the decision-making process when it comes to secondhand goods. Four key antecedents emerged: perceived popularity, perceived image, perceived love, and perceived loyalty. Notably, perceived love exhibits a substantial effect on customers’ purchasing decisions, mediated by perceived loyalty. Furthermore, the study demonstrates that 72% of the variations in the outcome variable (buying decision) can be attributed to the identified perceptions associated with secondhand goods. This suggests that these perceptions effectively predict the consumer purchase decisions. Consequently, in secondhand retailing markets, marketing practitioners should prioritize understanding and appealing to consumers’ perceptions associated with the goods. The implications for both theory and practice are thoroughly discussed.