Breaking Down Barriers: How Secondhand Trading Markets Revolutionize Consumer Experience with Peace of Mind, Convenience, and Rewards
Second-Hand Transaction Industry Strengthens Safe Transaction System
The second-hand transaction industry is bolstering its safe transaction system to lower the entry barrier for consumers who are anxious about trading second-hand goods.
According to the second-hand transaction industry, each company is establishing a safe transaction system and introducing more convenient transaction convenience functions and services to provide a second-hand transaction environment that consumers can trust and be satisfied with.
This industry movement is because consumers feel barriers to entry due to concerns about fraud and inconvenience in transactions when trading second-hand goods. According to a survey on ‘Usage Experience of Second-hand Transaction Platforms’ published by Consumer Insight, a consumer research organization, buyers cited anxiety about the quality of the transaction (47%), anxiety about fraudulent transactions (46%), contact with sellers, price adjustment (33%), and exposure of personal information (22%) as the inconveniences when purchasing on second-hand transaction platforms.
Escrow-Based Safe Payment and Genuine Product Inspection
The second-hand trading platform, Beonggaejangteo, is the first of the three major second-hand trading platforms in Korea to apply escrow-based safe payment to all transactions starting in August. Escrow is a system in which a third party deposits the consumer’s payment and then pays the seller after the product is delivered.
In addition to safe payment, Lightning Market has introduced simple payment services such as credit and check card payment, Naver Pay, Toss Pay, Kakao Pay, and Payco for second-hand transactions. It also allows mobile phone payment, convenience store payment, and even bank transfer (virtual account), making it safer and more convenient for users than cash account transfer transactions.
Beongae Market has established a 1,700㎡ ‘genuine product inspection center’ for the first time among second-hand trading platforms. It operates the ‘Beongae Care’ service, which provides genuine product inspection and polishing services.
Convenient Transaction Environment
Local living community Carrot recently launched the ‘One-time Transaction’ function to create a convenient transaction environment for users. The One-time Transaction function, which was introduced to increase the convenience of second-hand transactions and the efficiency of communication, is a function that supports purchasing multiple items from the same seller at once.
Unlike before, when buyers had to capture the screen of each item posting or open a chat room for each item to communicate with the seller in order to trade multiple items from one seller at once, now buyers can purchase multiple items they wish to purchase in one chat room and even write a review for the transaction at once.
Record-Breaking User Numbers
The number of users of second-hand trading apps has reached an all-time high as the industry moves to improve the second-hand trading environment. According to a sample survey of domestic smartphone users conducted by app and retail analysis service WiseApp·Retail·Goods, the number of installers of major second-hand transaction apps last month was 33.78 million, and the number of users was 22.64 million, the highest ever.
Last month, the most used secondhand trading app was Carrot, with 21.25 million users, followed by Beongaejangteo with 4.68 million users and Joonggonara with 1.68 million users. All three major secondhand trading apps achieved their highest number of users since their launch. In particular, Beongaejangteo showed the largest increase in users, with a 33% increase in app users compared to the same month last year.
