First rate security for second-hand goods

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First rate security for second-hand goods

First rate security for second-hand goods
A new consumer study has exposed the growing need for greater safety and security when trading second-hand goods online.

Almost one-fifth of Australians fall victim to scams, frauds, assaults, or robberies when buying second-hand goods online according to the Australian Second Hand Goods Consumer Study 2021

Key findings:

  • 19% of people who bought or sold second-hand goods online had fallen victim to scams, frauds, assaults, or robberies. 
  • 60% believe an escrow payment system is a better way to buy and sell second-hand goods.
  • 22% prefer to meet at a safe public location to pick up or drop off their second-hand goods. 

Warrp commissioned the independent study in August 2021, comprising 500 Australians between the ages of 18 to 81 with medium to high online shopping frequency.

Warrp Co-Founder and CEO, Matthew Ng, said many of the findings supported the need for greater consumer safety features on digital classifieds and marketplace platforms.

“The second-hand goods economy in Australia last year was worth $46 billion and is expected to grow through 2021, which really stresses the need for greater online security,” said Mr. Ng.

“Ecommerce is a booming industry and although people are generally fine dealing with strangers when buying or selling online, almost one-third believe scams, frauds, assaults, or robberies still occur very often.

“To this point, sixty percent of respondents believe an escrow payment system would be a better way to buy and sell second-hand goods, which makes sense given it creates a security barrier to minimise fraudulent activity.” 

The study also found that 22 percent of respondents would prefer to meet at a safe place to deliver or pick up the goods they’d bought or sold online, and 47 percent who buy second-hand goods would always negotiate for a fair price before buying. 

As Australia’s newest digital marketplace, Warrp has created its crowdsourced appraisals platform with safety and security at the fore to protect its users. 

The company’s escrowed payment system and PayID-only transactions ensure money changes hands securely once both parties are satisfied, while its Safe Meetup & Pickup delivery option provides users safe and trusted businesses to finalise their transactions. 

Warrp’s innovative dynamic machine learning pricing system, known as Warrping, also eliminated the need for negotiation by presenting fair item valuations according to the market.

Warrp Co-Founder and CTO, Roman Granovskyi, said the consumer study helped paint an eye-opening picture of Australia’s online second-hand goods market.

“One of the more unexpected finds was that forty-eight percent of respondents had bought or sold second-hand goods on a web platform such as a desktop computer, which eclipsed mobile platform use by four percent,” said Mr. Granovskyi.

“When you think about it, more people are at home in a COVID-induced reality, so it seems logical that they have greater access to a desktop computer when they would otherwise be mobile.

“The study also found that electronics were the most purchased second-hand goods category, followed by miscellaneous/other, and luxury wear.”

The Australian Second Hand Goods Consumer Study 2021 is free to download. 

Keep up to date with the latest news by bookmarking Warrp’s Press Room, or visit the Warrp website for more information. Warrp is available to download on iPhones via the Apple App Store and will be available on all other smartphone and web devices shortly.

About Warrp: 

Warrp is an innovative crowdsourced appraisals platform that takes the hassle out of buying and selling pre-owned goods with a world-first dynamic crowd and community valuation pricing system called Warrping, a Safe Meetup & Pickuppartner network, in-app rewards program, and a secure Escrowfacility on all transactions. Warrp’s end-to-end experience is designed to make it safer and more convenient to buy and sell pre-owned goods such as collectables, electronics, luxury wear, and vehicles. Warrp is available for use in Australia and has the vision to grow its presence globally as a reputable online marketplace built on strong community values, innovation, safety, and ease of use. Discover a marketplace where you are in control of the journey and destination. Just Warrp It!          

Media Contact
Company Name: Warrp
Contact Person: Matthew Ng
Email: Send Email
Phone: 0403 143 003
Country: Australia
Website: https://warrp.it/


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