The second-hand item buying and selling company Cash Converters has opened its first second-hand store in Lanzarote. Specifically, at Calle Domingo Ramírez Ferrera, number 3 in the city of Arrecife.
So far in 2024, Canary consumers increased their second-hand purchases by 6.8%, that is, the number of products they purchased in the Cash Converters stores on the Islands increased by this percentage. On the other hand, they also went to sell items they did not need to give them a second life; according to internal company data in 2024 they did so 16% more compared to the same period of 2023.
With this, there are already eight stores where Canarians buy and sell second-hand items. In this way, the company currently has 72 establishments open to the public in Spain and five in Portugal, including its own stores and a franchise network. With the opening of the new store in Lanzarote, eight jobs have been created.
The store has been launched by the entrepreneurs and siblings Juan and Yessica Hernandez, who already own five stores in the Canary Islands and have almost 20 years of experience in the second-hand market. The new establishment occupies a 150m2 premises and was inaugurated last Friday, May 17.
“It is undoubtedly the moment for second-hand items and the momentum we are experiencing in the Canary Islands is extraordinary. Until now, Lanzarote did not have any store where the most responsible consumers could promote the circular economy with a verification of the product's operation prior to purchase and a two-year guarantee compared to the platforms between which the transaction is carried out between individuals, where the seller must provide the buyer with the guarantee of origin”, commented Yessica Hernández.
In addition to the purchase and sale of second-hand products, Cash Converters will offer a solution in Lanzarote that allows its customers to sell what they no longer need in exchange for an economic amount that they receive at the moment and with the possibility of recovering it after a while.
On the other hand, the microcredit division of Cash Converters, Dineo, will be available, with which the company helps customers who cannot access traditional bank financing, offering them a responsible, transparent, immediate and safe financing alternative.
Las Palmas de Gran Canaria, the second city in which technology is most bought and sold
Consumer electronics have gained prominence in the circular economy of the Canary Islands in recent years, according to internal Cash Converters data. Las Palmas de Gran Canaria is the second Spanish city where the highest volume of buying and selling of second-hand electronics items has been recorded, only behind Málaga, which leads this ranking.
The second-hand consumer electronics that are most bought and sold nationwide are: video games, smartphones, consoles, smart TVs, laptops, tablets, smartwatches, monitors, mice and desktop computers.
About Cash Converters
- Cash Converters is a company specialized in the purchase and sale of second-hand products. The company, through its activity, values the circular economy as an engine for a change in consumption habits that help create a more sustainable world.
- It was born in Australia in 1984 and arrived in Spain in 1995, opening its first store in Barcelona. It currently has 77 stores (72 in Spain and 5 in Portugal) between its own stores and a franchise network. In addition, it has closed agreements with Carrefour in Spain and Auchan in Portugal, to implement spaces for buying and selling second-hand items in their surfaces. For now, they have a presence inside Carrefour (in the Las Rosas shopping center in San Blas, Madrid) and in Auchan (in Maia, Portugal). They also offer the option of buying and selling items through their website.
Cash Converters launched “The Converters Movement” in June 2021. A movement that seeks to give greater diffusion and dissemination to the importance of caring for the environment with day-to-day habits, based on conscious and intelligent consumption. Within the movement, the company launches various campaigns throughout the year to raise awareness among its community.
