Second-hand shopping a $1-billion-plus business for Amazon in Europe

Customers visit the Second Chance Store, a new shop selling returned and refurbished products from Amazon's Second Chance programmes in-person in central London, Britain November 28, 2023. John Nguyen/Handout via REUTERS.

LONDON (Reuters) - Consumer demand for refurbished and pre-owned goods in Britain and across Europe has created a billion pound ($1.3 billion) business for Amazon, its UK boss said.

Many retailers and manufacturers expect that trend to continue as shoppers, hit by rising prices and borrowing costs, look to save cash and buy more sustainably.