OLX: Value of unused household items in Kenya dips to Sh115 billion

The value of items gathering dust in homes across Kenya has reduced in the past one year. This is according to a recent consumer research survey that showed a 37 per cent drop in the value of unused household items from Sh158 billion in 2014 to Sh115 billion last year.

These unused household products include computers and laptops, home and office furniture, clothing and shoes, television, audio and video machines, phone accessories, books, CDs or DVDs, art collections, health and beauty products, pet accessories and musical instruments.

In the survey conducted by AC Nielsen researchers, Nairobi households reported the highest value of unused items, with products that would bring in Sh42 billion if sold. Nyanza had the lowest value at Sh7 billion.

“We are committed to helping people unlock the money hidden in unused items. This is through helping people waste less through collaborative consumption and extending the life cycle of products,” said Peter Ndiang’ui, OLX Kenya country manager.

The fastest-moving goods on the OLX online platform are electronics, phones and home appliances.

Several psychological reasons, such as emotional attachments and an “I’ll use it some day” attitude, have slowed down the sale of unused goods like watches, jewellery, accessories and musical instruments.

“Nearly 20 per cent of the things in your house are irrelevant to you. One can just sell them without thinking and make money to meet other financial needs, including starting a business or exploring other economic ventures,” said Mr Ndiang’ui.

The survey notes that selling off unused items puts more money in people’s pockets, sparking demand for goods and services.

“Kenyans have realised they are sitting on a gold mine and that the Internet is actually not complex to use. This has boosted sales of unused goods on our platform,” said Ndiang’ui.