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- The first-ever
Carousell Recommerce Index (2021 Report) published by the classifieds
marketplace across eight Greater Southeast Asia markets, including Hong Kong,
as part of its green initiative - Nearly half of
Hongkongers buy secondhand for environmental reasons, demonstrating a higher
environmental consciousness than neighbouring markets - On average,
Hong Kong consumers own 43 unwanted items
HONG KONG SAR – Media OutReach – 30 November 2021 – To further cultivate a recommerce
mindset and raise awareness around sustainable
shopping, Carousell Group, one of the world’s largest
and fastest growing classifieds marketplaces, has launched its first Carousell
Recommerce Index (2021 Report), highlighting consumer buying trends across
eight markets in the Greater Southeast Asia region (Hong Kong, Singapore,
Taiwan, Malaysia, Myanmar, Philippines, Indonesia, Vietnam). The report relies
on data from Carousell Group’s brands and the Carousell Sustainability Survey,
which surveyed over 3,000 of the brand’s users, both buyers and sellers, in June 2021 By analysing the data and responses, the Group
hopes to drive behavioural change for sustainability and a circular economy.
A disruptive
form of e-commerce, recommerce addresses the problem of overconsumption
directly through encouraging the buying and selling of preowned goods. Over
recent years, the trend has seen a sharp rise across the Greater Southeast Asia
region, as households become more aware of the need to shop responsibly.
Top 4 unexpected Hong Kong market facts from the report
Hong Kong is a key market for
Carousell with one in five
Hongkongers being Carousellers and 85% of users having made at least one
secondhand purchase on the platform in the past. While secondhand has become a
choice welcomed by local consumers, data that emerges from the report provides
more insight into their consumption patterns.
1.
Almost half of Hongkongers, who have bought secondhand before, do so
for environmental reasons, which is significantly higher than neighbouring
markets
In terms of
sustainability, Hong Kong demonstrates positive results. With 45% choosing to
buy secondhand for environmental reasons, the city ranked first, ahead of
Singapore and Taiwan at 30%, demonstrating a higher level of eco-consciousness
among Hong Kong shoppers. 16% of
respondents who have bought secondhand items before also stated that they only
buy secondhand where possible.
2.
Value for money comes out on top as a reason
Hongkongers buy secondhand items
When it comes to
the main reasons for choosing secondhand, the report results highlight that
pragmatism comes out on top. The most popular reason across the region was
value for money, with Hong Kong ranking highest at 85%, followed by Malaysia at
78% and Singapore and Philippines at 74%.
3.
Local consumers estimate owning 43 unwanted
items that could be sold
On average, each
Hong Kong user has an estimated 43 unwanted items they store in their homes
that could be sold, ranking the city third after Indonesia and Taiwan with an
average of 57 and 52 unwanted items respectively. The highest among age groups
in the Hong Kong market, Generation X has an average of 49 unwanted items, implying that
middle-aged consumers have the highest potential of shifting their
overconsumption behaviour towards recommerce.
4.
The pandemic increases the demand for secondhand
toys and games
The COVID-19
pandemic has shaped consumer patterns and Carousell has been a key witness of
these changes. Overtaking Woman’s Fashion, Toys and Games ranked as the top
category with the most demand for secondhand in 2020 as social distancing
regulations led to more people spending time at home. As the pandemic
continues, 44% of respondents selected Toys and Games as the most comfortable
secondhand item to buy and sell in 2021.
“Free Item” tops searches amongst Hongkongers
Looking
at keyword search trends for both new and secondhand items as a whole, 2020 saw
many shifts in demand. The report highlighted that bargain hunters in Hong Kong
consistently searched for “free” items on the platform, with the total search
number of free items reaching two million in three top categories: Furniture,
Footwear and Books, which amount to more than 10% of the total searches.
Eager to make
use of Hong Kong’s circular economy model as a potential second source of
income, more Hongkongers are using secondhand platforms to increase their
monthly income and Carousellers have demonstrated some encouraging optimism.
Out of the respondents from Hong Kong, 18.5% estimate that the platform can
help them to earn over HKD 10,000 through selling the unwanted items at home at
one time.
Kevin Huang, Managing Director of Carousell Hong Kong said, “At Carousell, we regard ourselves as a disruptor that has
transformed the secondhand buy-sell process into a reliable mobile experience.
We are delighted to see that local consumers do not only buy secondhand items
for their value, but also out of environmental concern. This is a testament of
Carousell’s success in nurturing an environmentally-conscious community and we
will continue to leverage our brand’s position as a sustainable shopping
platform.”
Lucas Ngoo, Co-founder of Carousell Group said, “As a
pioneer for mobile classifieds in the region, Carousell Group has been
constantly working to remove friction and enable secure, seamless transactions.
With the use of AI and data, we have been focused on accelerating our
recommerce leadership in the region to make buying secondhand trusted and
convenient. This, in turn, will help to solve the meaningful problem of
overconsumption with recommerce and thus make secondhand the first choice for
consumers.”
The
Carousell Recommerce Index (2021 Report) is available for download here.
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