[2021 컨슈머]⑥ “Sell limited edition sneakers, used Chanel”… A neighborhood indulged in the fun of making small money

Input 2021.01.08 06:00

Used transactions in the corona recession… ‘Solsol’, the fun of making small money
Domestic second-hand market 20 trillion won… The number of monthly users of the carrot market has increased 13 times in 3 years
Popular as a financial means… Evolving into community plus commerce

Jang Hye-jin, 30, living in Gangnam-gu, Seoul, uses a used trading application (app) carrot market for 4 hours a day. The spread of coronavirus infection (Corona 19) has lengthened the time at home. As a result, objects rolling around in the room stood out. After selling one by one, Jang explained that it became a hobby. He said, “It is fun to buy snacks with money from selling clothes and bags you don’t wear, and dolls you used to play with as a child.”
Used trading is becoming a new consumption culture. Even in the economic downturn caused by the spread of corona, it is fun to make pennies. It is also an advantage to be able to communicate with people on the excuse of making a deal while doing’zipcock’ as social distancing. Mobile platforms for second-hand transactions, such as the carrot market and lightning market, also contributed to the growth of the market.

◇ Consumption to take care of the price Evolving into a taste sharing community

The used trading platform Carrot Market, Used Nara, and Lightning Market said that as of last year, there were more than 40 million subscribers. The transaction amount is 4 trillion won in the used country, 1 trillion won in the lightning market, and 1 trillion won in the carrot market. The recently emerged carrot market explained that the number of monthly users (MAU) reached 1 million in 2018, 3 million in 2019, and 13 million in 2020, an increase of 13 times in three years.

Consumers can save money by trading secondhand. Choi Han-soo, 30, who lives in Goyang-si, Gyeonggi-do, recently purchased a Dyson V6 Fluffy vacuum cleaner at a carrot market for 250,000 won for 100,000 won. Mr. Choi said, “I wanted to buy a new product, but I didn’t have money, so I bought a second-hand product.”

Used marketplaces are also popular as a community that shares tastes. At the carrot market that supports transactions with local people, there are people who show off their pets or draw pictures of pets for free. The goal market that trades golf equipment or the used instrument market Mule has already evolved into a community.

◇ Spotlight as a financial means… Department stores also jump into second-hand deals

An increasing number of people are jumping into second-hand trading for finance. A representative example is the resale market, where limited edition sneakers and luxury goods are sold for more money. It is emerging as a new financial means for the MZ generation (millennials + Z generation, born 1980-2004).

Popular products can recover more than twice the investment. The limited-edition collaboration sneakers released by Nike and Dior in June of last year had a normal price of 2.7 million to 3 million won, but the resale price soared to 15 to 20 million won. The U.S. investment bank Corwen & Company predicts that the sports shoes resale market will grow from $2 billion in 2019 to $6 billion in 2025 (approximately 65.2 trillion won).

French luxury Chanel is also popular with resellers. There is fierce competition to buy because you can make a difference even if you sell used items. Chanel raised prices twice in Korea last year. Each time, there was an open run event at department store stores with resellers trying to buy products before the price went up and then resell them.

Distribution companies are also jumping into used sales. Lotte Department Store’s Yeongdeungpo branch, which was renewed last year, attracted attention by opening a limited edition sneaker exchange Out of Stock store instead of a luxury store on the first floor. AK Plaza’s Bundang branch operates used luxury vending machines. It was planned in collaboration with the non-face-to-face used trading startup Parabara and the online used luxury appraisal startup XCloset. If you download the Parabara app and receive more than a certain number of recommendations, you can trade luxury goods at a vending machine in Bundang.
Naver also launched’Cream’, a limited edition sneaker resale platform in March last year. The transaction is made anonymously if the seller and buyer’s desired price match based on real-time fluctuation data after grasping the market price information such as bid price by size before the transaction.

◇ Second-hand market emerging as a’treasure search’ overseas

Overseas, the used trading market was established early. The real real and Poshmark, a luxury marketplace, are representative. The Real Real was listed on the NASDAQ in June 2019, and Poshmark is preparing to list on the NASDAQ under Morgan Stanley and Goldman Sachs.

Hwan-Young Jang, a researcher at Korea Investment & Securities, said, “Gen MZ recognizes second-hand transactions as a’treasure hunt’ where you can find high-quality products at low prices.” It will grow.”