Is Xiaohongshu Stealing Xianyu's Market? Xiaohongshu Quietly Enters Second-Hand Business

Xiaohongshu, a popular social e-commerce platform in China, has quietly entered the second-hand business, allowing users to buy and sell second-hand goods on its platform. This move has raised concerns that it may be stealing market share from Xianyu, a leading second-hand e-commerce platform owned by Alibaba.

The entry of Xiaohongshu into the second-hand market may pose a significant threat to Xianyu's market share, as Xiaohongshu's large user base and social commerce features could attract users away from Xianyu. This development is being closely watched by industry observers, who are eager to see how Xianyu will respond to this new competition.