Used Goods Market 'Deuktem': Thrifty Homebodies Who Got Hooked Are Here

Growth of Secondhand Market in Contactless Culture... Significant Increase in Home Training and Kitchenware Transactions

#. Office worker Kim Myungho (alias) has become increasingly interested in home interior this year as the number of days working from home increased due to the spread of the novel coronavirus infection (COVID-19). However, purchasing new furniture and other items is also a burden. Instead, Kim has become deeply engrossed in finding necessary interior accessories on secondhand trading platforms.

#. Lee Misook (alias), who is preparing to open a new restaurant, decided to minimize startup costs amid the already heightened uncertainty caused by COVID-19. It required a considerable investment even to acquire essential kitchenware. Lee was able to reduce these costs by half by purchasing secondhand kitchen utensils.

The secondhand trading market has shown remarkable growth this year amid the intense spread of COVID-19. Startups operating platforms that connect secondhand trading online and via mobile are leading this trend. According to industry sources on the 12th, one of the representative domestic secondhand trading platforms, Bungaejangter, is expected to reach an annual transaction amount of 1.3 trillion won this year. Last year, Bungaejangter recorded an annual transaction amount of 1 trillion won. It is projected that the transaction amount will increase by about 30% this year. In fact, from January to August this year, the number of transactions on Bungaejangter increased by 25% compared to the same period last year. During the same period, the transaction amount also rose by 21%. Looking at the number of subscribers, it was found that it increased by 53% in August compared to the previous month.

Another secondhand trading platform, Danggeun Market, also surpassed 10 million monthly active users (MAU) last month, leading the revitalization of the secondhand trading market. Danggeun Market was launched in 2015 and recorded 1 million monthly users three years later in 2018, followed by 3 million in 2019. It has grown nearly threefold in one year as a community service based on local areas where various news and information, including secondhand trading, are exchanged, according to Danggeun Market. Analyzing users shows that it has established itself as a lifestyle-oriented service, with an average of 24 uses per month and 20 minutes per day.

The growth of these secondhand trading platforms is analyzed to be influenced by consumer trends due to the prolonged COVID-19 pandemic. Looking at Bungaejangter’s transaction status, it can be confirmed that the increase in 'homebodies' who spend long hours at home this year has raised interest in home training, home organization, and home decoration, leading to a significant increase in related product transactions. Based on the number of transactions, health and yoga-related products recently increased by more than 40% compared to the previous year. Furniture and interior accessory transactions also increased by more than 20%.

The tendency toward rational consumption during business closures and restarts due to COVID-19 and economic recession is also influencing the growth of secondhand trading. Looking at commercial kitchenware transactions on Bungaejangter, there was a 13% increase compared to the previous year as of the first half of this year. In particular, June showed a remarkable growth with a 28.4% increase in transaction volume compared to the previous year and a 43.9% increase compared to the previous month. Danggeun Market also reported that in the restaurant and kitchenware category this year, refrigerators, rice cookers, ovens, air fryers, blenders, and grills are actively searched in that order. An industry insider explained, "The activation of the secondhand trading market this year is interpreted as a result of many consumers seeking practicality due to the restrained consumer sentiment caused by COVID-19."

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