Rapid Growth of Secondhand Transactions Related to Hobbies Among MZ Generation

Bungaejangter Announces MZ Generation Search and Transaction Trends for the First Half of 2020

[Asia Economy Reporter Kim Cheol-hyun] The perception of secondhand trading is shifting to 'reasonable consumption reflecting personal tastes and values.' Especially among the MZ generation (a collective term for Millennials born in the early 1980s to early 2000s and Generation Z born in the mid-1990s to early 2000s), secondhand trading is becoming a way to more directly express their individuality and values, leading to growth in the secondhand market.

Secondhand trading platform Bungaejangter (CEO Lee Jae-hoo) announced on the 30th the 'MZ Generation Search and Trading Trends' based on search and transaction data from January to June this year. The analysis showed that over 84% of users were from the MZ generation, and their transactions accounted for 51% of the total number and transaction amount. As the MZ generation emerges as the core players in secondhand trading, this reflects the tendencies of a generation that enjoys peer-to-peer trading culture. Compared to the same period last year, the transaction amount by the MZ generation in the first half of this year increased by 78%, and the number of transactions rose by 44%.

The categories with rapid growth in transaction amounts in the first half were all related to hobby activities. The category with the largest increase in transaction amount among the MZ generation was 'Motorcycles & Scooters,' recording 5.3 billion KRW in transactions, more than five times that of the same period last year. This was followed by 'Games & Titles,' 'Electric Kickboards & Electric Wheels,' 'Bicycles & MTB,' and 'Laptops & Netbooks.' In particular, bicycles and electric kickboards serve both as hobby items and personal transportation, which seems to have been influenced by social distancing measures due to the COVID-19 pandemic.

Among the top 10 search terms on Bungaejangter in the first half, the top five were all digital devices. Apple products such as iPhone, AirPods, and iPad ranked 1st, 3rd, and 4th, clearly showing the MZ generation's love for Apple products. The 2nd place was taken by the Nintendo Switch, which experienced a shortage due to the craze in the first half. Searches for Nintendo Switch increased more than fourfold compared to the previous year, and transaction amounts increased elevenfold. IZ*ONE was the only idol group to rank 7th in the overall comprehensive search rankings, demonstrating strong interest in 'star goods.'

In the star goods category, IZ*ONE ranked first, followed by BTS, MAMAMOO, Oh My Girl, and Red Velvet. BTS ranked second in search volume, but their transaction count and amount were approximately 52,000 and 1.2 billion KRW respectively, showing overwhelming dominance in the star goods category. Star goods accounted for about 7.3% of the MZ generation's transaction volume on Bungaejangter in the first half of the year.

This content was produced with the assistance of AI translation services.