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Second-hand shopping on the rise among Chinese consumers
Last Updated: 2024-04-10 09:49 | Xinhua
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TIANJIN, April 9 (Xinhua) -- From old clothes and books to furniture and bags, young people in China are embracing the trend of trading second-hand goods, allowing the once-discarded items to be circulated and shared.

A Beijing resident surnamed Zhang, who lives in Haidian District, decided to move as her rental contract neared its end. She recently put up large appliances such as refrigerators and washing machines for sale on second-hand e-commerce platforms, as she couldn't take them to her next destination.

"Buying and selling second-hand products is a thrifty, environmentally friendly lifestyle," Zhang said. "These products are of good quality, relatively inexpensive, and better suit my needs."

Zhang represents a growing number of young people in China who view eco-friendly consumption as a favorable choice.

According to a report on China's e-commerce green development, people born in the 1990s and 2000s exhibit a notably higher understanding of "green consumption" compared to other age groups, with rates reaching 70 percent and 79 percent, respectively.

On Xianyu, one of China's largest second-hand goods trading platforms, its daily transaction volume has exceeded 1 billion yuan (140.9 million U.S. dollars), with over 100 million users listing their idle items on the platform last year.

According to the company, post-95s account for 43 percent of its users, while post-00s account for 22 percent, and post-95 users on Xianyu earned an average of 2,700 yuan each in 2023.

In an e-commerce industrial park specializing in second-hand goods in north China's Tianjin Municipality, whenever events are held, the park is always crowded with people coming to "treasure hunt."

"Since its opening, the place has attracted 213 companies, and last year, the park's revenue reached about 420 million yuan," said Chen Wenlong, the person in charge of the park.

According to a 2021 report on China's second-hand trading carbon reduction released by Tsinghua University's Institute of Energy, Environment and Economy, second-hand trading covers almost all consumer goods categories, with a trading volume exceeding 1 trillion yuan in 2020 and is expected to exceed 3 trillion yuan by 2025.

"However, the biggest challenge for many second-hand goods trading companies is the issue of transaction compliance," said Chen.

Experts said that the emerging idle economy is still in its early stages and requires practical measures such as filling policy gaps, improving recycling systems, and exploring new trade routes to expand the market for idle consumption.

(Editor:Fu Bo)

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Second-hand shopping on the rise among Chinese consumers
Source:Xinhua | 2024-04-10 09:49