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Naspers : Joint venture taps online second-hand goods market

12/17/2014 | 05:49am US/Eastern

Dec. 17--The popularity of selling second-hand goods online continues to grow here, says OLX Thailand, a leading second-hand goods website.

Tiwa York, executive at www.olx.co.th, said the number of people selling and buying such products via its website rose 150% this year. More interestingly, mobile access now represents 67% of its page views.

The best-sellers are cars and motorcycles, mobile phones and tablets, amulets, fashion and handbags. The company has had more than 10.4 million items listed for sale from 1.9 million people since its launched the platform in September 2011.

Naspers Ltd, Schibsted Media Group, Telenor Group and Singapore Press Holdings recently announced a joint venture to develop an online classifieds platform in four key markets: Thailand, Indonesia, Brazil and Bangladesh.

The deal will enable consumers to choose from a wider selection of items and have more success selling their items to a larger number of buyers.

By coming together, the venture will also be able to share costs, expertise and people to build awareness more effectively of the benefits of vibrant online classifieds offered to consumers.

In the joint venture in Thailand, which has yet to be announced, 55.9% will be held by 701Search, the venture between Schibsted, Telenor and Singapore Press, with the rest held by Naspers, the operator of OLX's website.

Under the agreement, 701Search will transfer its online classified business in the Philippines to Naspers and focus on Thailand.

The partnership will help further develop the online market in Thailand as well as share information and create better awareness about the online marketplace for second-hand goods among Thais.

The transaction is expected to be finalised early next year.

According to a survey by OLX, unused but still functional mobile phones are worth 1.2 billion baht, audio and video appliances 263 million baht, kitchen appliances 203 million baht, home appliances 269 million baht, furniture 127 million baht, bags 115 million baht, shoes 206 million baht and clothes 286 million baht.

Books and magazines are valued at 58.5 million baht and CDs and DVDs 26.6 million baht.

The survey said more urban households chose to donate their unused items, instead of selling them. Those who want to sell unused items will go online.

___

(c)2014 the Bangkok Post (Bangkok, Thailand)

Visit the Bangkok Post (Bangkok, Thailand) at www.bangkokpost.com

Distributed by Tribune Content Agency, LLC

© Acquiremedia 2014

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