South Koreans are turning to secondhand marketplace applications in record numbers, according to a recent study. (Image courtesy of Wise App)
SEOUL, Sept. 11 (Korea Bizwire) – As inflation continues to squeeze household budgets, South Koreans are turning to secondhand marketplace applications in record numbers, according to a recent study.
App and retail analysis service Wise App reported on September 10 that last month saw an all-time high in both installations and active users of major secondhand marketplace apps.
The survey, which sampled smartphone users across the country, found that 33.78 million people had installed such apps, with 22.64 million actively using them.
These figures suggest that more than 6 out of 10 smartphone users in South Korea have a secondhand marketplace app installed, with four out of ten actively engaging with these platforms.
Analysts at Wise App attribute this surge to the spreading trend of value-conscious consumption and a growing preference for secondhand transactions as consumers seek to alleviate economic pressures in the face of high inflation.
Among the secondhand marketplace apps, Karrot (Danggeun Market) led the pack with 21.25 million users, followed by Bungaejangter with 4.68 million and Joonggonara with 1.68 million. All three major platforms achieved their highest user numbers since launch.
Bungaejangter showed particularly strong growth, with its user base expanding by 33% compared to the same month last year, marking the most significant increase among the three.
Demographic analysis of Karrot users revealed a slight female majority at 51.8%. The app proved most popular among those in their 40s, who accounted for 30.8% of users, followed by those in their 20s (19.8%) and 30s (19.3%).
Bungaejangter’s user base skewed younger, with those in their 20s making up 34.4% of users, followed by those in their 30s at 22.8%. Notably, users under 20 accounted for 16.7%, giving Bungaejangter the youngest user profile among the major secondhand marketplace apps.
Joonggonara stood out with a predominantly male user base at 69.5%. Its largest age group was users in their 40s at 32%, followed by those in their 20s (22.2%) and 30s (19.6%).
Ashley Song (ashley@koreabizwire.com)
