When second-hand comes first
Consumer behavior is changing as people are careful how they spend their money and are even finding takers for their used things that they would earlier just dump
A mature consumption concept
According to a 2021 report released by international consulting firm Frost & Sullivan and the Institute of Energy, Environment and Economy at Tsinghua University, the market for second-hand trading in China has grown from one worth around 300 billion yuan ($41.39 billion) in 2015 to over 1 trillion yuan in 2020. The market is growing to include almost all consumer product categories and is expected to reach close to 3 trillion yuan by 2025, the report said.
Both Feng and Yang have noticed that many of their classmates and friends are buying and selling second-hand goods such as cameras, phones, and even merchandise related to celebrities.
In their view, this trend is driven by various factors.
"The main reason is that second-hand goods are definitely cheaper, and nowadays young people often prioritize practicality," Feng said.
"If the quality is as good as that of a new one, but the price is lower, then why not choose the second-hand item?" he said.
At the same time, he believes that secondhand transactions are a win-win situation for both buyer and seller.
"From the seller's perspective, if I have something that is lying unused, I'll probably just throw it away. But if I sell it, the item doesn't go waste, and I can also earn some money in the process. So why not do that?" said the youth.
