No second thoughts

• Consumers want to make a difference in the world too. One way to do this is by supporting a circular economy by purchasing secondhand items, also known as ‘recommerce’.
• Driving this change is 500-backed recommerce company Carousell Group, and they are tapping into an estimated market revenue of at least US$1B in Southeast Asia.
• Founded in Singapore in 2012, the team has since expanded their presence from Southeast Asia to Hong Kong and Taiwan, with nine brands across five categories: goods, luxury, mobile devices, automobiles, as well as property, jobs, and services (the last three being a single category).
• CFO JJ Ang explained that these brands come together in an ecosystem that allows Carousell Group to provide customers with greater levels of assurance when making secondhand purchases.
• Carousell also provides secure ways to pay directly on their platforms and some brands have logistics partners for in-app delivery arrangements. The team strives to address two pain points for consumers when it comes to buying secondhand: trust and convenience.
• JJ shared, “These improvements all come down to enhancing the user’s basic transactional experience, making recommerce as seamless as ecommerce.”
• Read the full story on Tech in Asia.