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56% of purchases on platform displaced buying a new product, says Carousell

56% of purchases on platform displaced buying a new product, says Carousell

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Carousell Group, the multi-category platform for secondhand items, has found that buying and selling secondhand items is better for the planet. It found that the platform and its user community avoided 116,577 tonnes of carbon emissions in four goods categories (fashion & luxury, electronics, furniture & home living and hobbies & toys). This is equivalent to around 76% of total trees in Singapore absorbing carbon dioxide per year.

These were the results of the platform's inaugural Circular Economy Impact Report. The report also revealed that almost 56% of purchases on the Carousell marketplace displaced the purchase of a new item, and that 55% of surveyed users reported an increase in buying and selling of secondhand items in 2022 as compared to 2021. 

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In addition, the report underscored the significance of every individual transaction in contributing to the overall circular economy impact. For example, buying a secondhand sofa can reportedly save up to 131 kg of carbon dioxide equivalent, or almost six trees absorbing carbon dioxide per year. 

The report was launched at the group's regional headquarters in Singapore with President Tharman Shanmugaratnam in attendance. 

"We do not need to reduce our standard of living to move towards more sustainable living. Businesses have to transform their practices. We will all have to transform the way we live, and it does not involve the reduction of scalability anywhere, " said Shanmugaratnam.

"That's the shift to culture that we need to go through. Reuse and not feel that we are any lesser for it, but actually becoming better people and you're saving our environment," he added.

Carousell Group's chief strategy officer Gaurav Bhasin added that by acilitating secondhand transactions, Carousell Group holds a central role in advancing the circular economy alongside its users in the greater Southeast Asia region. "As a key enabler of the circular economy in our region, we have a responsibility to lead by example and measure the potential positive impact of choosing secondhand products over new ones in a trustworthy and transparent way," he said.  

With the launch of the report, Carousell Group aims to further accelerate the future of second hand through recommerce.

"Our mission is to make secondhand the first choice for everyone. We have stayed true to this mission over the past 11 years, and we remain committed to making selling and buying secondhand even simpler, more trusted and convenient," said Quek Siu Rui, co-founder and chief executive officer at Carousell Group. 

"With the release of the report, we have more people realise how easy it is to embrace secondhand as a lifestyle and contribute to a greener world, without compromising on the things they enjoy." 

Earlier this September, the group rolled out a variety of recommerce programmes and features across multiple platforms and markets. 

Some of these programmes include the 'Certified' programme this year that uses shared expertise and technology from the various entities to authenticate and inspect secondhand items in the programme sold by Carousell Official Stores. 

As for features, the group rolled out enhancements to the secure on-platform payment features in its Singapore and Vietnam marketplaces. For instance, when Carousell users make transactions using the 'Buy' button, they are able to pay securely via a one-click checkout on the platform, and also enjoy additional Buyer Protection policies and integrated door-to-door delivery options. 

Related articles: 
Carousell opens new regional HQ in SG as it advances capabilities
Carousell SG launches cheeky film comparing secondhand phones to prospective partners
Carousell to launch car subscription service in Singapore with Carzuno

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