Alibaba-owned second-hand goods marketplace Idle Fish boasts 1.3 million interest-based communities, a key sales driver.
The used goods resale sector has had its share of problems including counterfeit goods, merchandise quality, and even legal issues concerning the sale of endangered animals.
E-commerce players and specialized verticals such as used car platforms are operating their own auction platforms.
More than 500 million users are expected to participate in this year’s promotion.
Alibaba revenue surges 42% on the year in the quarter ended June 30.
Tech monopolies in China aren’t a mirror image of Silicon Valley—rather than walled gardens, think competing fiefdoms and proxy wars.