Alibaba Group’s used-goods marketplace, Idle Fish, late this week opened registration
The hunters of informed occasions will soon have a new way of getting products from the best brands at low prices. In fact, Alibaba Group’s used products market, Idle Fish, has opened registration for a new premium channel that allows brands to manage their official stores.
Shi Jian, head of the new channel at Idle Fish, said: “The launch of the new channel marks a big change: We’re bringing the secondary and idle goods market from the C2C market to the B2C market. By expanding the market beyond individuals to businesses, we want to help more firms and brands to maximize the value of their idle assets and refunded products.”
Consumers can receive no-questions-asked refunds within seven days of the purchase
“We want to install clear standards and proper after-sales service for consumers, so they wouldn’t need to spend time to think or compare before they buy. This is also what motivated us to do this in the first place,” said Shi.
At its first opening, the new channel will offer electronic equipment in the pilot phase, before expanding to other categories such as jewelry, watches, shoes, bags, books, instruments and luxury goods. Idle Fish did not share an exact release date, but said that ThinkPad and the Chinese electronics companies TCL and Changhong were among the first brands to sign.
Taobao President Jiang Fan said the importance of Idle Fish would grow as China inevitably steers towards a more-sustainable and circular economy: “A lot of people might ask why Alibaba needs Idle Fish, when it already has platforms like Taobao and Tmall…We’ve seen a rapid rise in consumption, and accompanying that growth is a huge increase of idle goods that still have value,”. “We believe that in the next three to five years, Idle Fish will become as popular as Taobao and reshape the lifestyles of China’s younger generation, similar to how Taobao has before,” he added.
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