Lotte Himart gets into the secondhand game
Lotte Himart plans to start a secondhand service starting next month for both buyers and sellers.
Lotte Himart, the household electronics chain, does not plan to acquire a company or launch a new mobile app for the service, it said Friday.
It will add an additional section to its existing online shopping website and mobile app.
The products being sold will not be limited to appliances or electronic devices.
The company, 65.25 percent owned by Lotte Shopping, said it has tentatively named the service Heart Market.
“We are not expecting to gain much profit from the secondhand service,” said a spokesperson for Lotte Himart. “We are starting this service to help customers make secondhand deals safely. It can benefit us by encouraging people to meet at Lotte Himart stores to sell or buy secondhand products.”
There are more than 400 Lotte Himart stores nationwide.
The most popular existing secondhand platforms in Korea are Danggeun Market, Joonggonara and Bungaejangter, which account for more than 90 percent of the market share.
The secondhand retail market in Korea is estimated at between 15 trillion won ($13 billion) and 20 trillion won, according to local media reports.
BY JIN MIN-JI [firstname.lastname@example.org]