Taobao's second-hand luxury sales surpass $1.5bn
Local media have reported that the value of Taobao (an Alibaba-operated e-commerce platform, the name of which literally means ‘search for treasure’ in Chinese)’s vintage market exceeded over $1.5 billion over the past year.
Between April 2020 and March 2021, the number of new sellers offering second-hand luxury goods via Taobao reportedly rose to the highest level in five years.
Vintage specialists Yinyue told Dao Insights that, according to their analysis, the trend for selling pre-owned luxury on the platform may be attributed to the following three factors: young people’s desire for a “high-quality” life, the pervasiveness of the livestreamed shopping industry and covid-19’s impact on shopping tourism.
China’s luxury resale market has surged in recent years.
Image: The Vintage Bar.
