Singapore, Dec 8: Carousell Group, a leading multi-category platform for secondhand items in Greater Southeast Asia, has introduced its inaugural Circular Economy Impact Report, illustrating the environmental benefits of choosing secondhand over traditional retail.
The report, a groundbreaking initiative for e-commerce and commerce in Southeast Asia, quantifies the Avoided Carbon Emissions resulting from users choosing secondhand items on three of the Group’s marketplaces.
The report launch, honoured by Tharman Shanmugaratnam, President of the Republic of Singapore, occurred on December 8 at Carousell Campus, the Group’s regional headquarters.
The event included industry partners and investors, featuring a keynote presentation by Gaurav Bhasin, Chief Strategy Officer of Carousell Group, highlighting key findings.
The Circular Economy Impact Report highlights key insights revealing the positive environmental influence of Carousell Group’s user community in 2022.
The community made substantial strides in reducing carbon emissions across four major categories, including Fashion and luxury, Electronics, Furniture and home Living, and Hobbies and toys.
This impactful reduction is equated to a significant number of one-way drives between Kuala Lumpur and Singapore.
Moreover, a noteworthy trend emerged on the Carousell marketplace, where a substantial portion of consumer purchases effectively displaced the need for new items.
Surveyed users across the six key markets of Carousell reported a considerable increase in the exchange of secondhand items, showcasing a growing preference for sustainable practices in 2022 compared to the previous year.
To gauge its impact, Carousell collaborated with Vaayu, a European climate tech company, leveraging AI and machine learning technology and a Life Cycle Assessment (LCA) database of over 600,000 product data points.
While the report currently covers four goods categories, Carousell Group aims to progressively include all remaining categories and integrate other Group brands within the scope.
Gaurav Bhasin emphasized Carousell Group’s role in advancing the circular economy, stating, “We have a responsibility to lead by example and measure the potential positive impact of choosing secondhand products over new ones in a trustworthy and transparent way.”
Namrata Sandhu, Co-founder and CEO of Vaayu highlighted the critical role circular business models play in reducing retail’s impact on the planet.
The report not only quantifies Avoided Emissions but also underscores the impact of individual transactions on the circular economy.
For instance, purchasing a secondhand sofa on Carousell can save a substantial amount of CO2e, equivalent to a significant number of trees absorbing CO2 per year.
As part of Carousell Group’s commitment to re-commerce, its marketplaces have introduced various re-commerce programs and features across multiple platforms and markets.
Quek Siu Rui, Co-founder and CEO, reiterated the Group’s mission to make secondhand the first choice, stating, “With the release of the report, we hope more people realize how easy it is to embrace secondhand as a lifestyle and contribute to a greener world, without compromising on the things they enjoy.”
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