Secondhand items worth $952m posted on dubizzle in Q1
A new item for sale went up on dubizzle every two seconds during the first quarter of 2015, the classifieds website has revealed in a new statement.
The website has released a secondhand items report for the UAE for the first time, which shows that the value of secondhand items posted amounted to AED3.5 billion ($952.9 million) in Q1.
The report also reveals that a total of 482,032 items were posted for sale in Q1, which equates to one item being up for grabs every two seconds.
Irina Katchan, marketing manager, Items for Sale and Mobile at dubizzle said: “dubizzle’s Items For Sale section currently receives over 2.6 million visits a month and we are anticipating a growth in this figure over the coming months.
"That said, releasing such reports reflects the enormous offering power the secondhand items has in the UAE, which is redefining the culture of ownership and the way people perceive their possessions.”
The report showed that the value of mobile phones posted on dubizzle in Q1 reached over AED72 million while the value of clothes and accessories posted for sale was AED181.5 million.
The most expensive item posted on the site was a set of "loose diamonds" for AED970,000, whilst the most searched brands were quite diverse – from Rolex to Ikea.
“Besides the staggering numbers showcased in the report, it demonstrates the huge impact the secondhand market has on the local economy. When residents trade items they no longer need or use, the overall supply in the market increases. This leads to lower prices and an increase in the quantity of trade and keeping money in the local economy. In addition, as local residents sell their unused goods, they have more money to buy what they really want," Katchan added.
dubizzle.com is ranked as the 6th most visited website in the UAE according to alexa.com, with 4 million unique visitors a month.
The average user visits the site four times per week and typically spends 20 minutes per visit.
