ACADEMY HIRING AND BUYING USED
SAVING CASH
THE RISE OF RECOMMERCE
E ven if business is booming and cash is flowing nicely, it makes shrewd financial sense to keep a close eye on costs. Even if you can afford it, buying the very latest cameras, lenses and all the other kit is vastly expensive, will lose its value rapidly – and it’s money you could invest elsewhere to drive more growth or save for a rainy day. And it just doesn’t feel very ‘now’ to be splashing the cash – or worse, flexing the plastic – on new gear and squirreling your old kit in a cupboard just in case. It’s far better for you and the planet to recycle your old kit to let someone else use it and invest the money in nearly new but still used equipment that will reliably do the job you need. If you are like most indie production companies, who aren’t swimming on spare cash, being more frugal in running the business is a key skill that too many gearheads fail to understand. Even if times are good and you need to staf up or splurge on more kit, buying brand new can cripple the cash flow. And that means you could be out of business quickly. Buying second-hand is a booming market – and a sure-fire way to save on high-end camera gear
TESTING TIMES Buying pre-loved gear from a specialist dealer means all the kit is fully checked out and guaranteed
Second-hand, first choice A recently conducted survey of 6000 households across the UK, US, France and Germany – commissioned by used camera specialist MPB and carried out by Retail Economics – reveals that more than 70% of consumers bought or sold used in the past year, with the market set to grow almost 80% by 2028. Everything from part-exchanging your old iPhone for a
newer model to chopping in a laptop, tablet, designer watch or mirrorless camera is now more common than ever and growing. This market for used goods has been christened ‘recommerce’ as consumers choose to shop more sustainably and respond to the rising living costs. Surprisingly, it’s not lower-income families driving the trend. Higher-income households are having the biggest impact on these fundamental consumer choices. Those with an annual income of £80,000 or more are twice as likely as low-income households to have bought and sold used items over the last 12 months. Millennials are at the forefront for used goods with 84% of those aged 30 to 44 saving money by purchasing this way. And it’s the obvious cost savings which are a primary motivating factor, with sustainability concerns ranking second. Although fashion remains the single most popular category for recommerce, homeware and technology make up around a third of all used buys. In the technology
Cameras and lenses are often advertised by companies in the Far East that promise super-low prices and speedy delivery. If you’re based in the UK or Europe, it often looks much cheaper to buy from these online firms which often sell non-official ‘grey’ imports. Apart from communication and time The kit also might not be UK spec, so you could have warranty issues if anything goes wrong, although many importers claim they offer their own warranty. Also, key items like batteries and chargers, lens hoods and tripod collars are sometimes removed from the packaging and sold as an extra. And, of course, you are not supporting the UK importers or dealers who you might rely on in case of any problems. NEW KIT FROM OVERSEAS CAN BE RISKY difference issues between continents, you will find that you need to pay import duty and VAT, which can significantly add to the cost.
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