十年三次跃迁：转转重模式构起护城河

Core Insights - The announcement of shutting down the C2C marketplace by Zhuanzhuan has stirred significant reactions in the second-hand industry, marking a strategic shift towards a focus on the C2B2C model [1][7] - Zhuanzhuan has undergone three major transformations over the past decade, evolving from an e-commerce platform to a circular economy enterprise, and now positioning itself as a new consumption company within the circular economy [1][22] - The decision to close the C2C marketplace is seen as a necessary step to enhance focus on core business areas, particularly the "official verification" model, which has become a key differentiator in the market [5][20] Group 1: Strategic Shift - The farewell to the C2C business was not impulsive but rather a culmination of a five-year process, with a clear business division established in late 2019 [2][4] - The core resources of Zhuanzhuan have increasingly shifted towards the "official verification" model, with minimal staff dedicated to the C2C business by the end [4][5] - The decision to close the C2C marketplace aligns with industry trends, as the growth rate of the C2B2C market has surpassed that of C2C, indicating a consumer preference for more secure second-hand transactions [5][8] Group 2: Operational Challenges and Innovations - Zhuanzhuan faced a survival crisis in 2019, prompting a shift from a light model to a heavier, more industrialized approach to ensure sustainable revenue [8][12] - The establishment of quality inspection centers and the introduction of on-site recovery services have been pivotal in transitioning away from a traditional internet platform model [9][10] - The merger with Zhaoliangji in 2020 provided new insights and strategies, leading to significant growth in online orders and the expansion of on-site recovery services [11][12] Group 3: Market Expansion and Consumer Trust - Zhuanzhuan has successfully expanded its offerings from 3C products to luxury second-hand goods, creating a new consumption logic centered around verified quality [13][18] - The integration with Hongbulin has further enhanced Zhuanzhuan's market presence, allowing for a more efficient product flow across multiple platforms [15][17] - The company maintains a focus on high-value brands and categories that require verification, ensuring that resources are concentrated on products that align with its core business principles [19][20] Group 4: Future Outlook - Zhuanzhuan has established a unique business model and scale effect, with over 1,000 offline stores and extensive coverage of on-site recovery services [22][25] - Continuous investment in technology and user experience improvements is essential for building trust in the second-hand market, which remains a challenging sector globally [25] - The next decade for Zhuanzhuan will focus on maintaining clarity in its strategic focus and delivering unique social value, reinforcing its position in the "trust economy" of second-hand goods [25][22]