Jing Zhi is JD.com’s newest try to interrupt into China’s rising resale market. Jing Zhi
The Chinese language e-commerce big has launched Jing Zhi, a brand new resale platform app.
Sellers can use the platform to host second-hand merchandise and pay a 6 % fee to Jing Zhi, or promote their used items on to JD.com’s AiHuiShou second-hand division.
At the moment, merchandise on the brand new platform skew closely in the direction of electronics, however there’s a small vary of luxurious, trend and wonder merchandise out there.
Earlier this yr, Chinese language Funding Financial institution Shenwan Hongyuan launched a report estimating that China’s complete 2020 resale market exceeded 1 trillion yuan ($154.78 billion), with the e-commerce resale market reaching 374.55 billion yuan ($57.97 billion).
The latter market is at the moment dominated by Alibaba’s Xian Yu, together with Tencent and 58.com’s Zhuan Zhuan, these two JD.com rivals mixed at the moment have a 90.9 % share of the e-commerce resale market.
In response to Alibaba’s fourth quarter earnings report, launched in Might, Xian Yu’s gross merchandising quantity (GMV) exceeded 200 billion yuan ($30.95 billion) for the interval, up one hundred pc year-on-year, with 30 million each day energetic customers.
Be taught extra:
Chinese language customers are most obsessed with mega manufacturers corresponding to Louis Vuitton, Gucci, Chanel, Christian Dior and Hermès, based on client information insights launched by certainly one of China’s main luxurious resale platforms, Plum.
https://www.businessoffashion.com/news/china/jdcom-launches-new-resale-platform | JD.com Launches New Resale Platform