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Transaction value of second-hand e-commerce in China 2015-2020

China's “re-commerce” is taking off. In 2019, the gross merchandise value of China's online second-hand trade reached nearly 260 billion yuan, increasing by about 53 percent from the year before. The leading online second-hand trading platforms Idle Fish and Zhuanzhuan had annual transaction values of more than 20 billion yuan.

Go used, go green

Young consumers in China are embracing a more environmentally friendly and economical lifestyle by buying second-hand goods. As of 2019, about 144 million Chinese have used second-hand e-commerce platforms, an increase from nearly two million in 2014. The resale of used products on Idle Fish, China's largest re-commerce platform, helped to reduce more than 4,000 tons of carbon emission in a year.

One man's trash is another man's treasure

Apart from sustainability, the booming of second-hand e-commerce also makes high-end brands more accessible for ordinary workers. In 2019, China's second-hand luxury app Plum reported a monthly transaction value of more than ten million yuan. The most popular second-hand luxury goods among second-hand treasure hunters were handbags, small leather goods, and clothing.

Gross merchandise value of online second hand retail in China from 2015 to 2019 with an estimate for 2020

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Source

Release date

July 2020

Region

China

Survey time period

2015 to 2019

Supplementary notes

* Estimate.

Note: 1 yuan equals approximately 0.14 U.S. dollars and 0.12 euros (as of July 2020).

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