China's domestic market for used products has already surpassed a record 1 trillion yuan in 2020. In 2023, China's second-hand goods e-commerce market is estimated to jump 14.25 percent year-on-year to 548.65 billion yuan.
The younger generation has emerged as the driving force behind the industry's growth, contributing to the expansion of its user base and transaction volume. More than 90% of users who frequently engage in commercial activities on these platforms are aged 30 or younger.