Second-hand market thriving in Singapore

Majority of Singaporeans are comfortable with participating in the second-hand market in one way or another, according to the Heroes Don’t Wear Capes survey by mobile classifieds marketplace Carousell.

About 80% of respondents recirculate underused items by buying and selling them on the second-hand goods market, such as flea markets, social media and online marketplaces.

More than half (60%) of them would consider giving idle belongings a new lease of life rather than throwing them away and 96% of them do so because they want a less cluttered living space.

Marcus Tan, co-founder and president of Carousell, said: “In a bid to declutter and earn some extra cash, the activities of buying and selling second-hand goods have evolved to become significantly more entrenched in Singapore’s economy and Singaporeans’ lives.”

When asked about the motivation to buy and sell second-hand, a whopping 84% of Singaporeans expressed monetary benefits. They can get a better deal from buying pre-loved items and make extra cash by selling things they no longer need.

Amid concerns over the rising levels of e-waste in Singapore, the second-hand market is also becoming an alternative source for electronics, according to Carousell. Electronics and mobile devices emerged as the most popular underused items that Singaporeans are looking to revive in the second-hand market (78%). This is followed by women’s fashion (40.2%) and textbooks (38.6%).

Carousell’s Heroes Don’t Wear Capes survey polled 1,000 people in Singapore between the ages of 20 to 40.