The second-hand e-commerce market is rising. The stereotype from the last consumer era in China is over. The new generation of Chinese consumer is looking for variety, sustainability and affordability.
In the Chinese culture, buying second-hand is not well perceived. Consequently, it is engraved in our minds that the Chinese consumer has no interests in owing what’s already been used. Indeed, he is looking for brand-new, luxury goods. In addition, the object is a way to show the belonging to a social class. Then, we can ask ourselves how come the second-hand e-commerce market trend is rising lands in China.
The second-hand market began to draw attention in 2011 and it has been growing at a rapid pace ever since. As a matter of fact, the China Center of Internet Economy Research stated that the second-hand transactions in China are expected to exceed 1 trillion yuan (143 billion USD) at the end of 2020. With the emergence of an increasing number of second-hand apps in recent years, more and more customers have participated in the second-hand economy.
Major E-Commerce platforms
There are two major second-hand e-commerce platforms in China:
- Idle Fish
To sum up, the Chinese second-hand e-commerce market in China growing at a fast pace and opportunities are opening in this sector.
If you would like more informations on that topic, I invite you to read the fully detailed article on my LinkedIn.
Furthermore, if you want to extend your knowledge in the Chinese e-commerce marketplace, read this article: TOP 10 Chinese marketplace.