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In 2020, around ** percent of China's second-hand sales were generated by electronics, amounting to approximately *** billion yuan. Meanwhile, the sales value of used personal luxury goods was about billion yuan that year.

Used smartphone market in China

In recent years, China has had the most massive smartphone market in the world, with an annual shipment volume of more than *** million units. The large inventory and rapid technology updates have led to a huge number of smartphones being discarded in China each year. In a 2020 survey, nearly *** out of three respondents said they replaced their smartphones within two years, while ** percent of the discarded phones were still functioning. As a result, China's second-hand smartphone market has flourished.

In 2020, around *** million smartphones were recycled in China, and the number is expected to triple by 2025. More than ** percent of those who bought used smartphones purchased them online, while Xianyu, JD.com, and Zhuanzhuan were three of the leading re-commerce platforms consumers used for buying pre-owned phones.

Second-hand apparel market in China

Living in the world's largest apparel manufacturing country and second-largest apparel market, Chinese fashion consumers spend over *** billion U.S. dollars on clothing and footwear a year. A 2019 survey suggested that one Chinese household could produce over ** kilograms of wasted clothes each year. As environmental consciousness has grown, the second-hand fashion industry in China has experienced a significant upsurge. Nowadays, many fast-fashion retailers operating in China offer "buy-back" services to their customers, aiming to recycle pre-owned clothes and reduce waste. Meanwhile, in a report published by Xianyu, more than ** pieces of used clothes find new owners each month via its "one-click resell" function.