According to Chinese media outlet Xinyan Finance, the Chinese Tiktok, Douyin has tapped into the second-hand market with the launch of a new second-hand channel on its platform marketplace.
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Dubbed “Second-hand Goods” (Er shou hao wu), the new channel is dedicated to services including product resales and live streaming sessions to promote second-hand items such as bags, watches, apparels and jewellery.
The channel also features a collection and delivery service, powered by ByteDance’s subsidiary, Beijing Space Transformation Technology Co., Ltd and works with partners for authentication support.
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In October 2020, Douyin launched the ‘Pre-owned Luxury Festival’. Douyin is now expanding the product categories and is building up an independent market space for resale products.