在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

Global EditionASIA 中文雙語(yǔ)Fran?ais
Business
Home / Business / Industries

Secondhand luxury first in buyers' hearts

By FAN FEIFEI | China Daily | Updated: 2021-02-05 10:26
Share
Share - WeChat
Customers visit a secondhand luxury store on Nanjing West Road in Shanghai. [Provided to China Daily]

China's secondhand luxury market is booming as more young and internet-savvy consumers, who are also environmentally conscious, are looking for affordable high-end goods through secondhand luxury trading platforms.

Research firm Bain & Co said Chinese consumers will account for nearly 50 percent of the global luxury market by 2025 as the country has been leading the global recovery of the COVID-19-hit high-end products' market.

However, sales of secondhand luxury products in China only accounted for 5 percent of the nation's overall luxury market in 2019, compared with 28 percent in Japan and 31 percent in the United States, said a report jointly released by the luxury research center at the University of International Business and Economics and Youshe Yipai, a platform for secondhand luxury deals.

The report said the Chinese used luxury goods market is in its infancy, with the future scale expected to reach 1 trillion yuan ($154.6 billion),without providing a time frame. In 2019, more than half of secondhand luxury goods consumers in China were below 30 years of age.

It added that the most popular brands on the site were from Louis Vuitton, Gucci, Chanel, Hermes and Dior, with handbags, clothing, shoes and high-end watches gaining traction among consumers.

The secondhand luxury market is expected to witness rapid growth in China, which is giving related luxury e-commerce platforms such as Plum, Feiyu and Ponhu an opportunity to grow their user bases and increase brand influence.

Plum, a Chinese online platform for used luxury goods, raised tens of millions of US dollars in a B2 round of financing in December. Established in 2017, the company aims to connect individual owners of luxury goods with potential customers who want to buy such products at a relatively lower price and mainly targets white-collar elites in top-tier cities.

Xu Wei, founder and CEO of Plum, said the company's revenue recorded a surge last year during the pandemic as offline stores were mainly closed.

Xu said its core competitiveness lies in supply chains.

"The secondhand luxury market has a complex industrial chain, ranging from authentication, appraisal, price setting, presale and after-sales service."

Plum has introduced livestreaming sessions, which allow buyers to identify the features and quality of the products more clearly, and begun to establish its own multichannel network team and train celebrity hosts.

It now has its own professional appraisal team. In July, the company inked a strategic partnership with the luxury identification center affiliated with the China Certification & Inspection Group to ensure the authenticity and quality of luxury products offered on its platform.

In August 2019, Plum raised $20 million in its Series B+ financing. Prior to this, the company had secured four rounds of financing.

Started as a livestreaming store selling luxury products in 2016 on Taobao, an online marketplace owned by e-commerce giant Alibaba Group, Feiyu shifted its focus to the secondhand luxury live broadcasting market in 2018. The company completed millions of dollars of Series A financing last year. N5 Capital and Matrix Partners China jointly led the investment.

Feiyu has set up six warehouses across the country, and has more than 40 certified appraisers who are responsible for the identification of products covering handbags, watches and jewelry. Each product needs to undergo a triple appraisal and re-inspection process.

It has also set up dozens of live broadcast rooms in some 10 key cities across the country, with nearly 60 self-operated livestreaming anchors, of which more than half have monthly sales of 1 million yuan, the company said. The overall sales volume of Feiyu in 2019 was nearly 1 billion yuan.

The growth potential for the secondhand luxury market is huge, and livestreaming is playing a vital role in boosting sales of used luxury goods, said Huang Shichang, founder of Feiyu.

The platform has lifted the per-customer transaction numbers through livestreaming sessions. Now the average per-customer transaction at Feiyu is around 4,000 yuan, higher than other competitors, Huang added.

The millennial generation is still the main driving force for the development of China's luxury market, and China's luxury brands are increasing their online penetration rate, said Bruno Lannes, a partner at Bain & Co's Shanghai office.

Zhang Mengxia, director of the luxury research center at the University of International Business and Economics in Beijing, said Chinese millennials hope to buy high-quality and fashionable products at competitive prices, and are more willing to accept used items.

The demographic's surging demand for luxury goods has given a big boost to secondhand luxury goods' online platforms, Zhang said, adding that these platforms should possess the abilities and methods to identify the authenticity of goods for sale.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产乱码精品一区二区三 | 久热久 | 一区二区视频在线 | 国产又色又爽又黄又免费 | 久久精品一区二区国产 | 国产精品第二页 | 伊人久久网站 | 日本婷婷 | 欧美在线观看一区二区 | 欧美一级黄 | 日韩成人中文字幕 | 在线小视频 | 色激情网 | 三级视频网 | 在线一区二区三区 | 日韩欧美黄色片 | 亚洲第一网站 | 欧美成人免费视频 | 亚洲免费黄色 | 在线观看免费黄色 | 91在线免费视频 | 中文字字幕 | 四虎影音 | 国产精品一区二区三区不卡 | 在线网站免费观看18 | 日韩精品免费看 | 黄色日本视频 | 黄色免费片 | 91免费黄 | 一区二区小视频 | 久久艹av | 日韩免费成人 | 日日摸天天添天天添破 | 国产一区福利 | 99福利视频 | 性一交一乱一伧老太 | 天堂网在线资源 | 亚洲午夜视频在线观看 | 天堂资源av| 国产小视频在线播放 | 日韩中文字幕精品 |