Bunjang, South Korea’s leading re-commerce platform, is intensifying its efforts in Singapore, marking the second anniversary of its international platform, Global Bunjang. With a staggering 452% increase in local users over the past six months, Singapore has become one of Bunjang’s fastest-growing markets outside Korea, ranking third globally in sales. This expansion is part of Bunjang’s strategy to tap into the burgeoning K-culture enthusiasm and sustainable consumption trends in Singapore.
The platform, launched in July 2023, offers a wide array of Korean secondhand goods, including K-pop merchandise and fashion items, facilitated by advanced AI technology. “Singapore represents the perfect intersection of digital savviness, sustainability values, and a deep affinity for Korean culture,” said Jaewha Choi, CEO of Bunjang. The re-commerce market in Singapore is projected to reach $2.37 billion this year, with a 14.5% annual growth rate driven by sustainability-conscious consumers.
Bunjang’s strategic focus on Singapore is underscored by its plans to increase marketing initiatives and community engagement, aiming to attract K-culture fans and value-conscious shoppers. The platform’s success in Singapore is evident, with a repeat purchase rate exceeding 50% and high demand for K-style re-commerce items such as K-pop photocards and rare apparel.
Looking ahead, Bunjang plans to expand its regional offerings, including partnerships with local platforms and enhanced buyer protection across Asia. The company is also preparing targeted strategies for Hong Kong and Taiwan, further cementing Singapore’s role as a launchpad for its cross-border re-commerce model in the Asia Pacific region.
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