'Second-hand economy' boosts GDP, study finds
Canadians spend nearly $30 billion every year on used goods, putting money into the economy that would otherwise go to imported goods, according to a new study.
Canadians spend nearly $30 billion every year on used goods, putting money into the economy that would otherwise go to imported goods, according to a new study.
The study — conducted for the classified ads site Kijiji by researchers from the University of Toronto and Montreal's Observatoire de la Consommation Responsable — says the "second-hand economy" contributes close to $34 billion to Canada's gross domestic product and saves the average family of four about $1,200.
"More people list things and so you have this virtual circle; a snowball effect of more and more people using it," said Peter Spiro, one of the report's co-authors.
Click the video for the full story.
From a report by Marivel Taruc