China-based e-commerce firm JD.com has announced the unveiling of a new resale platform. Jing Zhi – the new resale platform app – will help users host second-hand products.
The users, who sell on the resale app, will have to pay Jing Zhi 6 per cent commission or else will have to sell their second-hand products via JD.com’s AiHuiShou division.
Besides fashion wear and luxury products, electronics products are also being listed, much to the delight of customers.
The launch of the new resale platform follows a report released earlier this year which claimed China’s total resale market’s worth being more than US $ 154.78 billion.
Also, the online resale market separately touched US $ 57.97 billion.
The launch of JD.com’s Jing Zhi, notably, comes in the wake of its founder Richard Liu’s announcement to step back from the day-to-day operational activities.
Meanwhile, JD.com has, reportedly, said that it is creating a new President role.
Beijing-based JD.com is one of the two largest B2C online retailers in China by transaction volume and revenue, besides being a member of the Fortune Global 500 and a major competitor to Tmall. It generated US $ 114.299 billion in 2020.
