Breaking News! Well-known Second-hand E-commerce Platform Announces Gradual Shutdown of "Free Market" Business

On September 22, Zhuanzhuan Group, a renowned second-hand e-commerce platform, issued an official announcement (hereinafter referred to as the "Announcement") declaring the gradual shutdown of its "Free Market" business. The Announcement stated that Zhuanzhuan will now fully focus on the "Officially Inspected" business model for second-hand goods, providing users with a more secure alternative to second-hand consumption beyond "person-to-person" transactions. Zhuanzhuan emphasized that other business lines of the group will continue to operate normally.

In an internal letter, Zhuanzhuan CEO Huang Wei mentioned that shutting down the "Free Market" was a difficult but necessary decision. "The 'Free Market' was the beginning of Zhuanzhuan, carrying the hard work of the startup team and the trust of our first users. However, it also created space for online fraud and gray market transactions, making it difficult for us to find appropriate methods to resolve disputes between trading parties. Here, we would like to extend our deepest apologies to all affected 'Free Market' users for the negative experience. We will do our utmost to handle the wind-down process properly," Huang Wei stated.

According to official data, since 2019, Zhuanzhuan's "Officially Inspected" business has sustained rapid growth and has become the mainstream choice for users trading on the platform. The second-hand "Free Market" business now accounts for less than 3% of the platform's total GMV (Gross Merchandise Volume).