Four out of five Singapore residents recycle items in commercial marketplace: Carousell

SINGAPORE — A survey commissioned by Carousell, a mobile classifieds app, found that four out of five Singapore residents “recirculate” their belongings by buying and selling them on the second-hand goods market – including flea markets and online marketplaces.

Mr Marcus Tan, co-founder and president of Carousell highlighted the growth in the local second-hand market over the years, noting the “the activities of buying and selling second-hand goods have evolved to become significantly more entrenched in Singapore’s economy and Singaporean lives.”

More than half the people polled say they buy and sell second-hand items at least once in six months. The majority choose to conduct their transactions online, with three out of four respondents saying that they have used social media or online marketplaces for their transactions. The top reasons cited are to make extra cash or to declutter their personal space.

“Anyone with a smartphone can snap a picture to sell an item, or chat to buy,” said Mr Tan. “Over the last five years, Carousell has grown and so have our users.”

The survey interviewed 1,000 people in Singapore aged between 20 and 40 years.

More than half the users in Singapore are over 25 years old, and have “significantly more purchasing power”, he said. “With greater purchasing power, we have seen how their evolving needs have resulted in more listings and demand in higher value verticals, such as cars,” Mr Tan told TODAY.

In October last year, Carousell acquired Caarly, a mobile-first platform that makes it easier for used car dealerships to manage their inventory. The company subsequently launched Carousell Motors in February this year, a one-stop mobile classifieds marketplace for used cars.

Electronics and mobile devices are the most popular items that are bought and sold on Carousell’s marketplace, with 78 per cent of respondents indicating their interest in such items on the second-hand market. This is followed by women’s fashion (40.2 per cent) and textbooks (38.6 per cent). Overall, more than three out of four respondents say they have as many as 29 under-used items in their homes.

Based on Carousell’s data, the average amount that a person makes from using its online marketplace is S$4,000 – although this includes high-value items such as cars. On average, a “Carouseller” – someone who uses the online marketplace to buy or sell – puts up 30 listings. The data is based on all listings from 2012.

Interestingly, while the majority of respondents are motivated by cash, many Singaporeans also feel that recycling products through the second-hand marketplace makes them more “socially conscious”. The survey report shows that 84 per cent of respondents cite monetary benefits as their prime motivation for turning to the second-hand market, although over half say they would rather give away or donate their used items.

Mr Tan noted that Carousell is more than just a platform to buy and sell. Over the years, a growing desire for people to “be part of something bigger and more meaningful” has seen the online community get together in other ways. He cited Carousell Groups as an example of how users with common interests band together to organise community meet-ups for sellers to exchange information and experiences.

Launched in August 2012, Carousell is a homegrown company with its base in Singapore. It now has a presence in 19 cities, and boasts over 65 million listings. In Singapore, Carousell has a diverse range of products in 29 categories, including cars, lifestyle gadgets and fashion accessories.

The survey findings were released on Saturday, at the launch of the Carouselland exhibition held over the weekend at Suntec City. Bringing together 400 sellers from the Carousell community, the two-day event will feature booths with a range of new and “pre-loved” items, including retro-collectibles and games, lifestyle gadgets and homemade gifts.

From a Harry Potter Hogwarts-inspired town to a mini Japanese Akhihabara, there are four themed-zones. Visitors will also be treated to games, magic shows and activities for children, including colouring corners, glitter tattoo artwork and balloon sculpting.