Beijing, China – The summer holiday has sparked a surge in secondary market transactions, with consumer demands taking on a diverse and interest-driven trend. As reported by the China News Service on September 2, the combination of holiday spending, the Olympic economy, and a boom in travel has injected vitality into the summer economy, with the secondary market experiencing a robust demand.
According to data obtained by China News Service from the second-hand e-commerce platform Zhuanzhuan, the secondary market has seen a significant increase in demand for a variety of items during the summer holidays. The platform’s data reveals a shift towards diversity and interest-based purchases, reflecting the changing consumer landscape.
Olympic Fever Drives Sports Economy
The summer Olympic Games have played a significant role in fueling the sports economy. The platform’s data shows that from July to August, the transaction orders for sports and outdoor products increased by nearly 60% compared to the previous month. Notably, orders for sports helmets surged by 124%, while tennis rackets and badminton rackets saw an 83% and 74% increase, respectively.
Music, Reading, and Gaming as Summer Pastimes
Many students have chosen to spend their summer holidays cultivating musical hobbies or relaxing through reading and gaming. This has led to a strong increase in interest for various types of goods. The platform reported a 140% and 55% month-on-month growth in musical instruments and books, respectively, during July and August.
A particular highlight was the release of the video game Black Myth: Wukong, which led to a significant increase in secondary market transactions for the PS5 console. On the game’s launch day, the platform saw a 128% daily increase in PS5 transactions and a 237% increase in search volume.
Cooling Appliances in High Demand
The persistent summer heatwave has also led to a surge in demand for cooling appliances. The platform’s data indicates that orders for air conditioners increased by over 20% during the summer, with cooling appliances like ice makers and portable fans becoming popular choices among consumers.
Diversification in Consumer Needs
Zhuanzhuan’s officials have noted that in recent years, there has been a growing trend towards diversification in consumer needs within the secondary market. The demand for second-hand musical instruments, sports products, and home appliances has been on the rise. In response, the platform has been expanding its official verified product categories, now offering over a hundred different categories for transactions.
The platform aims to meet the diverse needs of consumers while providing them with standard product inspections and after-sales services. This approach is intended to create a reliable and trustworthy environment for second-hand consumption.
Conclusion
The summer holiday spending spree has brought about a significant boost to the secondary market, showcasing a clear trend towards diversification and interest-driven consumer behavior. As the platform continues to evolve and meet these changing demands, it is evident that the secondary market is becoming an increasingly important part of the broader consumer economy.
The surge in sports-related items, interest in musical and reading materials, and the demand for cooling appliances highlight the dynamic nature of consumer preferences during the summer season. With platforms like Zhuanzhuan enriching their offerings and ensuring quality through verification and after-sales services, the secondary market is poised to continue its growth trajectory, catering to the evolving needs of modern consumers.
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