CEBU CITY, Cebu—Thousands of Cebuanos are now buying and selling online in the P21-billion market of secondhand goods, according to a businessman here.
Managing director RJ David of OLX Philippines--formerly Sulit.com.ph.--said Cebuano sellers post an average of 2,000 online ads daily, with 40 percent sold in a week or less.
“There is a huge untapped wealth in the country, and this is generated every three to six months,” he said on Wednesday, while announcing the results of the study made by global research firm TNS at the Quest Hotel in Ayala Center.
In the study commissioned by OLX Philippines, half of the merchandise traded online amounting to P10.36 billion are laptop and other computers, mobile phones, cameras and video game consoles.
Automotive products accounted for P4.5 billion in motorcycle, helmets, cars and accessories.
The TNS study also noted fashion items, home appliances and collectibles like musical instruments, books and artworks comprise the remaining figures among the sellable items.
Top items posted for OLX Cebu members are mobile phones followed by clothing and accessories.
Regina Aguilar, Senior Marketing Manager for Cebu, said trading secondhand items online has become a smart way for Cebuanos to upgrade their lives.
“Sellers can earn extra cash from stuff they don’t need while buyers can get a better deal because pre-owned items usually sell at a much lower price than brand new items,” she said.
According to David, OLX Philippines has three million members another one million joining by March of next year.