Introduction to South Korea's Secondhand Trading Platforms: A Start to Rational Consumption
With consecutive price increases and unpredictable economic situations, consumers have begun to prioritize what is known as “cost-effectiveness.” Instead of tirelessly searching for places selling the same items at lower prices, consumers now utilize price comparison platforms or secondhand trading platforms to make more rational purchases. Reflecting this market trend, the secondhand trading market in South Korea is rapidly growing, offering items such as new products never used before, items stored in clean condition after purchase but rarely used, and discontinued products that are difficult to purchase elsewhere, all at affordable prices.
Interest in South Korea's secondhand trading platforms is also increasing internationally, with the number of purchases made through Korean proxies providing purchasing and shipping services and secondhand trading platforms gradually rising.
For those interested in or looking to purchase items from South Korea's secondhand trading platforms, we introduce three representative platforms as follows:
Daangn market (당근마켓)
#Currently1stPlace #UsedDirectTransaction #TrustBased #LocalVerification #MannerTemperature
Daangn Market, founded by two entrepreneurs from Kakao, South Korea's leading social networking service provider, originally started as "Pangyo Market" in the Pangyo Techno Valley area. Gradually expanding its services to other regions, it rebranded itself as "Daangn Market" and has since grown into South Korea's number one secondhand trading platform, with an average of 15 million monthly users.
Starting with the emotive slogan "Warm used direct transaction app near you," Daangn Market is now aiming for the global market. It introduced the "Local Verification" feature, which uses GPS to confirm whether users actually live in the neighborhood, and the "Manner Temperature" feature, which shows how polite the conversation between buyers and sellers was as a reference for future transactions, completing a trust-based used direct transaction platform.
However, the limitation of purchasing used items only in specific regions due to local verification makes platform growth and global expansion challenging. Additionally, many Korean proxies do not offer services for Daangn Market, making it difficult to purchase items from overseas.
Bunjang (번개장터)
#MobileFocused #TasteBased #GenZ #BungaePay #BungaeTalk
Bunjang, which emerged in 2011, is a mobile-focused secondhand trading platform with approximately 3.4 million monthly users. Categorizing the items for sale and curating them according to user preferences, Bunjang is beloved by the taste-oriented Generation Z.
For BungaePay (the Escrow payment system), when a buyer makes a purchase, Bunjang holds the payment amount. After the buyer receives the item and confirms the purchase, Bunjang securely transfers the payment to the seller. Bunjang has been applied to ensure a safe secondhand trading experience for both parties without any concerns about fraud.
Operating global sites, Bunjang allows overseas users relatively easy access. Additionally, overseas users can easily purchase items sold on Bunjang, unlike platforms like Daangn Market or Joonggonara, using Korean proxies that provide purchasing and shipping services.
Joonggonara (중고나라)
#Leader #EveryoneMakesMoney #RealTimeSearchTerms #PriceCheck
Joonggonara formed its secondhand trading platform through Naver, South Korea's leading search engine and social networking service, via cafes in December 2003. As of 2021, it holds a cumulative membership of 24 million users and transactions worth more than 5 trillion won (KRW), making it the unique and unrivaled secondhand trading platform before the emergence of other platforms.
Joonggonara started with the slogan "Everyone Makes Money," emphasizing that items that are useless to one person can be essential to another. Through the "Real-Time Search Terms" at the top of the main page, users can check trending items within Joonggonara. Additionally, the "Price Check" feature on the detailed page allows users to ascertain the market price of a specific item within Joonggonara.
However, due to the lack of an escrow payment system, many Korean proxies refused to offer the services, making it challenging to purchase items from Joonggonara from overseas.
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The above posting was written based on the content of the following blog.
https://brunch.co.kr/@kellypoly/52