Connect with us

Hi, what are you looking for?

News

PHL tops SEA market for secondhand goods; Zara, BMW are sought-after brands — Carousell

PIXABAY

The Philippines is the most receptive market for secondhand goods in Southeast Asia, according to a report released this December by Carousell, an online recommerce platform.

Recommerce refers to the selling and buying of previously owned products, both new and used.

According to the inaugural Carousell Recommerce Index, 92% of consumers in the Philippines have bought secondhand items from casual everyday sellers — the highest among all markets of the Carousell Group, a classifieds group in Southeast Asia.

Secondhand apparel is the category Filipinos are most comfortable with, whether in terms of buying (58%) or selling (75%).

Women’s fashion was the top category for secondhand items in Carousell Philippines, the report found, with Zara being the most searched for brand. Rounding the top three on the supply side were men’s fashion, followed by hobbies and toys.

Fashion ruled the demand side as well. However, over the pandemic, interest in buying secondhand cars increased by 37% — pushing used cars into third place, with BMW being the most popular search term.

“Recommerce offers the second-best sustainable option by extending the life cycle of each garment and material, keeping it out of landfills, replacing the need to produce new items, and limiting consumption,” said Ralph M. Garcia, country marketing head of Carousell Philippines, in a press statement.

The index, he added, was compiled to determine how the pandemic changed consumer behavior, as well as how consumers can be encouraged to buy secondhand as a sustainable lifestyle choice.

BUYER MOTIVATION

Seventy-two percent of Carousell Group users have made secondhand purchases before; 3 in 10 buy secondhand whenever possible. In this segment, the primary reason for buying secondhand was value for money (82% in Hong Kong; 78% in Malaysia; 74% in Singapore and the Philippines). The second top reason was environmental concern (45% in Hong Kong; 30% in Taiwan and Singapore).

An authentication and warranty on products will make the respondents who have never bought secondhand before consider doing so (72% in the Philippines; 56% in Singapore; 39% in Malaysia).

Carousell Group’s 2021 report surveyed 3,029 buyers and sellers in June across its eight markets: Hong Kong, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, and Vietnam. — Patricia B. Mirasol

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

THE PESO is expected to strengthen versus the dollar this week ahead of the release of the latest Philippine manufacturing data and expectations of...

News

BW FILE PHOTO LOCAL EQUITIES are expected to trade with a downward bias this week as investors are expected to pocket their profits as...

News

The National Government’s budget deficit ballooned to P99.1 billion in October, as state spending outpaced revenue collections, the Bureau of the Treasury (BTr) reported...

News

LIONEL MESSI (ARG), celebrates with team in Group C match between Argentina 2-0 Mexico at Lusail Stadium in Lusail, Qatar. — NAOKI MORITA/AFLO SPORT/REUTERS DOHA —...

News

THE BLUE Eagles on Saturday got payback on rival and reigning champion UP with a 75-67 win. — UAAP MEDIA CLINCHING a twice-to-beat bonus...

News

TAI BIERRIA unloaded a match-high 21 points while presiding over her team’s net defense with three blocks. — PHILIPPINE STAR/JUN MENDOZA Games Tomorrow(PhilSports Arena)2:30...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.