Carousell Recommerce Index on The Growth of Secondhand Trading Market Towards Sustainable Consumption
Pragmatism and pandemic disruptions pave the way for greater acceptance across Fashion, Electronics and Autos categories
HO CHI MINH CITY, VIETNAM - Media OutReach - 1 December 2021 - Carousell Group , the leading classifieds group in Greater Southeast Asia, addresses the issue of overconsumption in its inaugural Carousell Recommerce Index 2021, a Carousell Green initiative to highlight the importance of sustainability and recommerce in the Greater Southeast Asia region. The report covers findings from four Carousell Group brands namely Carousell, Chợ Tốt, Mudah and OneKyat, across eight markets - Hong Kong, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Taiwan and Vietnam, involving over 3,000 buyers and sellers.
According to the survey on Chợ Tốt in the Vietnam market, secondhand shoppers tend to buy Electronics such as computers, mobile phones, tablets, cameras and TVs, accounting for more than 65% of the total number of respondents. Similarly, pre-owned electronics are also the item which have the most sellers, accounting for 69% of the total number of respondents. Buying, selling and using secondhand goods help bring income to sellers and cost-saving benefits for buyers.
As for motivations for buying second-hand, 83% of Vietnamese respondents who have purchased secondhand items cite "value for money" as the top reason. On the contrary, 17% of Vietnamese respondents who have yet had experience buying secondhand items mentioned authentication or warranty on products will motivate them to buy secondhand —which aligns with Chợ Tốt's recent efforts in launching the Escrow feature, giving users a secure method of authentication when depositing high-value items.
Overall in the region, Fashion remains the most in-demand category at 29%, with Women's Fashion dominating the top spot across the region, and Men's Fashion becoming increasingly popular. However, Vietnam witnessed a slightly different trend. In 2018-2019, Fashion ranks in the top 3 categories with the most active users for secondhand. By 2021, Fashion's top position has been replaced by Household Appliances, Furniture and Plants due to the upsurge of tables, chairs, drawers, and household plants' demand. This shows the promising future of Household Appliances, Furniture and Plants in the Vietnamese re-commerce market.
On the contrary, the Vehicles category has consecutively held the top position in terms of the most secondhand listings and the most demand for secondhand from 2018-2020. This category is expected to be the driving force for growth since more individuals look for ways to own private transport without the financial burden.
Since the outbreak of the Covid-19 pandemic, many social distancing directives have been implemented in Vietnam, causing some interesting changes in consumption trends. Laptops and desktops have become the two top most searched keywords on Chợ Tốt for both new and secondhand items. This was due to the fact that major lockdowns have increased the number of people working from home, leading to the surge of laptops and desktops to support remote working.
Social distancing makes many Vietnamese people adopt a healthier lifestyle. As people can only travel within short distances during lockdown, this has led to a rapid increase in demand for bicycles, which are not only affordable but also a safe way to commute to nearby areas. Besides, items for recreational purposes during lockdown, such as video games and books, grew significantly and entered the list of the most-searched keywords.
In the growing trend of buying-selling second-hand items, Carousell continues to make headway in fostering community while promoting secondhand. This includes Chợ Tốt's Sharing Market campaign, which was inspired by generous users who listed items for free using the hashtag #chosechia. This campaign is a new initiative of Chợ Tốt during the social lockdown period, calling for donations of unused items to people who are suffering from the pandemic to help spread love and build circular consumption behaviors. In Singapore, Hong Kong, Taiwan, Malaysia and the Philippines on Carousell, as well as OneKyat in Myanmar, similar campaigns have been devised to promote the Free Items category.
"In the past 8 years, Cho Tot has made the experience of buying and selling secondhand items more convenient. We are constantly striving to create a reliable and engaging re-commerce marketplace, where everybody can buy second-hand at the first choice and help to reduce the manufacturing waste and the impact on the environment , " Mr. Nguyen Trong Tan - CEO Cho Tot (Carousell in Vietnam) shared.
The Carousell Recommerce Index (2021 Report) is available for download here.
About Carousell Group
Carousell Group is the leading classifieds group in Greater Southeast Asia on a mission to inspire the world to start selling, and to make secondhand the first choice. Founded in August 2012 in Singapore, the group has a leading presence in eight markets under the brands Carousell, Mudah.my, Cho Tot and OneKyat, serving tens of millions of monthly active users. Carousell is backed by leading investors including Telenor Group, Rakuten Ventures, Naver, STIC Investments and Sequoia Capital India. Visit here for more information.
About Chợ Tốt
Cho Tot (www.chotot.com) is part of Carousell, one of the world's largest and fastest growing marketplace platforms in Southeast Asia. With more than 50 million visits/month, Cho Tot is the leading online classifieds site in Vietnam with a wide range of products: Property, Vehicle, Electronics, Blue Collar Jobs, Pets, Home Appliances, etc. Visit www.chotot.com for more information.
The issuer is solely responsible for the content of this announcement.