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]

Core Viewpoint - The article emphasizes the importance of "user trust" as a central theme for the company over the past decade and as a key factor for its future growth [2][4]. Group 1: Strategic Transition - In September, the company announced the closure of its C2C marketplace, a significant move given that this model was foundational to its business [3][6]. - The CEO highlighted that this decision, while seemingly self-sabotaging, is a necessary strategic focus, marking a shift from C2C to a C2B2C model [3][4]. - The company has undergone three major identity transformations: entering the second-hand market as an e-commerce platform in 2015, transitioning to a circular economy enterprise by the end of 2022, and now fully embracing the "official verification" model [3][4]. Group 2: User Trust and Market Position - The company has built a reputation as a "heavy industry company" by establishing barriers through quality inspections, on-site recycling, and physical stores [4][19]. - Over the past decade, the company has created a new supply that has increased consumer demand for second-hand goods, particularly among those who were previously hesitant to purchase them [4][34]. - The CEO acknowledged that the C2C experience was inferior to competitors like Xianyu, leading to a fundamental conflict with the company's focus on trust [11][13]. Group 3: Operational Changes and Innovations - The company has shifted its resources away from C2C operations, with the majority of its team now focused on the "official verification" process [9][19]. - The establishment of quality inspection centers and the introduction of on-site recycling services have significantly improved user satisfaction, as evidenced by a rise in NPS scores [20][23]. - The company has successfully integrated its online and offline operations, enhancing efficiency and customer experience [29][32]. Group 4: Future Directions - The company aims to expand its offerings beyond 3C products to include luxury second-hand items, reflecting a shift in consumer demographics and preferences [27][32]. - The integration with Hongbulin has been strategically planned to avoid past mistakes, focusing on building a strong brand identity and enhancing operational efficiency [29][30]. - The company continues to invest in technology and service improvements to enhance user experience and maintain its competitive edge in the second-hand market [42][43].

Core Viewpoint - The company has decided to close its C2C "free market" due to a lack of trust and the inability to improve the user experience, shifting its focus to a C2B2C model that emphasizes service and trust in second-hand transactions [1][4][12] Group 1: Business Model Transition - The transition from a pure internet company to a new consumption company reflects a strategic shift to address user trust issues in second-hand transactions [3][12] - The C2B2C model integrates a service platform between buyers and sellers, aiming to reduce risks and enhance user confidence in transactions [5][10] Group 2: Trust and Standardization - Trust is identified as the core issue in second-hand trading, as each item is unique and comes from individual sellers, making standardization crucial for building sustainable trust [7][8] - The company is actively working to standardize non-standard products to facilitate trust between buyers and sellers [8][10] Group 3: Investment Focus - The company has invested heavily in quality inspection services and face-to-face transactions to address consumer trust concerns, leading to the establishment of a large team of quality inspectors [9][11] - Future investments will continue to align with consumer needs, focusing on solutions that enhance user experience rather than purely technological advancements [11] Group 4: Industry Reflection - The CEO reflects on the ongoing price wars in the e-commerce industry, questioning the long-term value of such competition and emphasizing the need for differentiation beyond price [13] - The company aims to create unique value in the supply side of the market, moving away from viewing users merely as traffic [13]