Transaction value of second-hand e-commerce in China 2015-2023

China's re-commerce is taking off. In 2023, the gross merchandise value of China's online second-hand trade reached 548.65 billion yuan, increasing by about 14.25 percent from the year before. 

Go used, go green

Young consumers in China are embracing a more environmentally friendly and economical lifestyle by buying second-hand goods. As of 2023, about 580 million Chinese have used second-hand e-commerce platforms, an increase from only 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.