In 2020, around 41 percent of China's second-hand sales were generated by electronics, amounting to approximately 435 billion yuan. Meanwhile, the sales value of used personal luxury goods was about 14.82 billion yuan that year.
Used smartphone market in China
In recent years, China has had the most massive smartphone market in the world, with an annual shipment volume of more than 300 million units. The large inventory and rapid technology updates have led to a huge number of smartphones being discarded in China each year. In a 2020 survey, nearly two out of three respondents said they replaced their smartphones within two years, while 80 percent of the discarded phones were still functioning. As a result, China's second-hand smartphone market has flourished.
Living in the world's largest apparel manufacturing country and second-largest apparel market, Chinese fashion consumers spend over 350 billion U.S. dollars on clothing and footwear a year. A 2019 survey suggested that one Chinese household could produce over 30 kilograms of wasted clothes each year. As environmental consciousness has grown, the second-hand fashion industry in China has experienced a significant upsurge. Nowadays, many fast-fashion retailers operating in China offer "buy-back" services to their customers, aiming to recycle pre-owned clothes and reduce waste. Meanwhile, in a report published by Xianyu, more than 500,000 pieces of used clothes find new owners each month via its "one-click resell" function.
Sales value of second-hand goods in China from 2015 to 2020, by product category
(in billion yuan)
Characteristic
Luxury goods
Electronics
Furniture, clothing, and fashion items
Daily necessities, books, and others
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chyxx.com. (July 31, 2021). Sales value of second-hand goods in China from 2015 to 2020, by product category (in billion yuan) [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/1304727/china-second-hand-sales-value-by-category/
chyxx.com. "Sales value of second-hand goods in China from 2015 to 2020, by product category (in billion yuan)." Chart. July 31, 2021. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/1304727/china-second-hand-sales-value-by-category/
chyxx.com. (2021). Sales value of second-hand goods in China from 2015 to 2020, by product category (in billion yuan). Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/1304727/china-second-hand-sales-value-by-category/
chyxx.com. "Sales Value of Second-hand Goods in China from 2015 to 2020, by Product Category (in Billion Yuan)." Statista, Statista Inc., 31 Jul 2021, https://www.statista.com/statistics/1304727/china-second-hand-sales-value-by-category/
chyxx.com, Sales value of second-hand goods in China from 2015 to 2020, by product category (in billion yuan) Statista, https://www.statista.com/statistics/1304727/china-second-hand-sales-value-by-category/ (last visited July 27, 2024)
Sales value of second-hand goods in China from 2015 to 2020, by product category (in billion yuan) [Graph], chyxx.com, July 31, 2021. [Online]. Available: https://www.statista.com/statistics/1304727/china-second-hand-sales-value-by-category/