港股消费四姐妹后，下一个机会来自循环经济

Core Insights - The article emphasizes the importance of trust barriers in the domestic consumption market, highlighting how companies like 转转 are leveraging this to establish themselves as leaders in the circular economy [1][18] - 转转 is transitioning from a C2C model to a CBC model to address key issues of information asymmetry and trust deficiency in the circular economy [1][18] - The circular economy is at a tipping point, with the global second-hand market projected to grow from $1.8 trillion in 2024 to $2.2 trillion by 2027, indicating significant growth potential for 转转 [2] Company Strategy - 转转's decision to shut down its C2C marketplace and focus on the CBC model aims to build a robust trust system through professional quality inspection, efficient fulfillment, and comprehensive service guarantees [1][18] - The company has established a unique quality inspection system and a customer service framework, enhancing user trust and transaction efficiency [14][15] - 转转's growth strategy includes expanding into various high-value categories, evidenced by significant increases in retail order volumes across multiple product lines during key sales events [18][19] Market Context - The article draws parallels between 转转 and successful consumption models in Hong Kong, suggesting that 转转 is replicating the success of the "消费四姐妹" by building differentiated advantages [2] - The changing consumer mindset towards sustainability and value is driving the demand for second-hand goods, with nearly 90% of users expressing willingness to purchase second-hand devices [7][6] - The circular economy is gaining traction globally, with China positioned to potentially create the world's first multi-category second-hand consumption giant due to its unique trust dynamics [16][20] Consumer Behavior - The shift in consumer behavior towards valuing sustainability and cost-effectiveness is reshaping the market, with a notable increase in high-spending female users on the 转转 platform [8][6] - The rise of the circular economy reflects a broader change in consumption patterns, moving from excess to a more sustainable approach [5][4] - The trust crisis in consumer goods is prompting a demand for reliable platforms, positioning 转转 as a key player in addressing these concerns [17][20]