I was having trouble figuring this out, but would thrift shops be included in the GDP, especially since they could be considered secondary goods? Most of the products sold in thrift shops have already been counted in previous GDP's because it was likely purchased from a store before going to a thrift store. In addition, would stores like depop add to the GDP because in a sense it is a private buyer?
To determine whether thrift shops and platforms like Depop are included in GDP, we need to consider how GDP is calculated and the nature of these businesses.
Gross Domestic Product (GDP) is a measure of economic activity within a country. It is calculated by summing up the total value of all final goods and services produced within a specific time period.
Thrift shops and other second-hand stores are typically involved in the buying and selling of used goods. These goods have usually been counted in previous GDP calculations when they were originally sold as new. Since GDP only includes the value of final goods and services, these used goods would not be included in GDP when they are resold in thrift shops.
So, in terms of thrift shops, their contribution to GDP would mainly come from any value added services they might provide, such as repairs or alterations. For example, if a thrift shop purchases used clothing and then repairs or modifies it before selling, the value of those services would be included in GDP.
As for platforms like Depop, they operate as online marketplaces where individuals can buy and sell second-hand products directly from each other. Since these platforms act as intermediaries and facilitate transactions, they earn revenue in the form of fees or commissions. The value of these fees or commissions would be included in the GDP as part of the value added by the platform itself.
However, it's important to note that the actual sale of goods between private buyers and sellers on platforms like Depop does not directly contribute to GDP, as they involve the exchange of pre-existing goods. It is primarily the economic activity surrounding these transactions (i.e., the revenue earned by the platform) that would be reflected in the GDP.
In summary, the contribution of thrift shops to GDP would generally come from value-added services, while platforms like Depop would contribute through the revenue they earn from facilitating second-hand transactions.