Whether it’s a luxury designer handbag or a highly coveted collectible such as K-pop merchandise, many of us don’t just purchase these items – we hold on to them. These goods become more than possessions; they become symbols of identity, memories, and status. Yet as our collections grow, a challenging truth emerges: The environmental cost of accumulating, storing, and ultimately discarding these products is mounting.
Sae Mi Lee, Lead of Global Team at Bunjang
In fact, among overseas K-pop fans, it has become common to keep only limited goods such as photocards while discarding large quantities of albums. Last year, media outlets reported on photos taken in Shibuya, Japan, showing piles of discarded albums of a famous K-pop star.
When trends shift or interest fades, many luxury goods and collectibles are left unused, forgotten, or thrown away, contributing to a growing problem of waste and carbon emissions.
Luxury fashion alone accounts for up to 10% of global carbon emissions, according to the United Nations Environment Programme – a terrifying statistic considering how there are still many other streams of retail.
But the environmental footprint extends beyond clothing and accessories. Luxury, collectibles and limited-edition merchandise, from K-pop albums to designer clothes also add to this burden.
This linear consumption model of simply buying, using, and then discarding is simply unsustainable. The fashion and collectibles industries, long associated with exclusivity and trend-driven consumption, are now confronting a critical opportunity: To embrace circularity and extend the useful life of products.
This shift is being led by younger consumers with surveys showing that over 60% of millennials and Gen Z buyers express strong interest in purchasing authenticated secondhand luxury goods and collectibles, motivated largely by environmental concerns. These generations view sustainability as a prerequisite, not an option, and are shaping the future of commerce through their buying decisions.
Moreover, the recommerce market is experiencing explosive growth globally. Further market reports found that global secondhand luxury market will reach USD 51 billion by 2028, growing at a CAGR of over 9%. This surge is fuelled by consumers’ desire for affordability, exclusivity through limited-edition resale, and the sustainability benefits of reducing demand for newly manufactured goods.
The global recommerce industry cannot fully realise its economic and environmental potential if it remains restricted by national borders. The K-pop market alone illustrates the powerful global reach of Korean culture, underscoring the need for cross-border solutions. Achieving these goals requires seamless cooperation among key countries. Yet, substantial gaps persist in connecting major markets such as Korea, Singapore, Hong Kong, and Taiwan. The absence of trustworthy platforms for authenticated secondhand goods, combined with underdeveloped recommerce infrastructure, continues to limit wider participation in the circular economy.
That’s where Bunjang plays a critical role. As Korea’s leading recommerce platform, Bunjang has been pioneering efforts to build an ecosystem that connects everyday individuals as sellers and buyers while ensuring authenticity, quality, and environmental responsibility.
Thus far, Bunjang’s commitment to sustainability extends well beyond its online platform. Since 2023, Bunjang has hosted 23 offline flea markets that bring secondhand culture to life. They aren’t just venues for exchanging pre-loved goods – they are vibrant festivals filled with DJs, great food, and entertainment. Through these widescale events, Bunjang is building an offline community that champions mindful consumption while showing that secondhand shopping can be fun, ultimately helping to reshape cultural perceptions.
The impact of these initiatives is tangible:
- More than 30,000 secondhand items have been traded through these events, seeing over 45,000 attendees and counting thus far.
- Contributing to an estimated carbon reduction exceeding 2,500 tons – equivalent to the carbon emissions from driving a car around the Earth 260 times, or the amount absorbed annually by 3.4 million mature trees.
By blending online and offline experiences, Bunjang fosters a holistic culture of sustainable consumption, making secondhand the new first choice for consumers.
For consumers, platforms like Bunjang offer more than convenience; they provide a way to participate in a meaningful shift toward sustainability by bridging the cross-border recommerce market. Beyond providing a local service, Bunjang also offers Bunjang Global, a mobile site-based service for international users, which facilitates cross-border second-hand transactions.
Currently, users in over 50 countries are engaging in second-hand transactions through Bunjang Global. Furthermore, Bunjang has established exclusive partnerships with Mercari, Japan’s largest recommerce platform, expanding its reach beyond Korean products to include Japanese secondhand goods as well.
In doing so, individuals globally help reduce waste, lower the demand for new production, and contribute to an economy where value is preserved and shared worldwide.
Singapore’s unique position as a trendsetting cosmopolitan hub makes it ideal for driving this recommerce movement in Asia. With a discerning consumer base and proximity to Korea’s booming recommerce culture, Singaporean buyers and sellers can catalyse regional growth in circular commerce – amplifying both economic and environmental benefits.
Recommerce is no longer just a niche trend. It is a systemic shift in how we define value, ownership, and responsibility. By extending the lifecycle of luxury goods and collectibles, we can significantly reduce the environmental cost of production and waste, while fostering a culture of conscious consumption.
At Bunjang, we see a future where circular commerce is embedded in everyday life, where keeping products in use is as natural as buying them new, and where economic growth aligns with environmental stewardship. This future requires collaboration across industries, from designers who prioritise durability to consumers who choose reuse over disposal.
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