Second-hand buyers can now filter search results by seller’s social credit score

Xian Yu 闲鱼, China’s top online marketplace for used goods and overstock, has added a new feature allowing shoppers to filter search results by the seller’s Sesame Credit score.
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China Market Research: Sesame Credit Social Credit

What happened

Xian Yu 闲鱼, China’s top online marketplace for used goods and overstock, has added a new feature allowing shoppers to filter search results by the seller’s Sesame Credit score.

China Market Research: Consumer Trust Issues: Sesame Credit Scores

Why it matters

Consumer mistrust is a major problem for China’s online retailers. China is the world’s largest producer of counterfeits (Business of Fashion):

According to US Chamber of Commerce estimates, Greater China is the source of 86 percent of the world’s counterfeit goods, a portion valued at a staggering $397 billion.

The rampant proliferation of fakes has damaged domestic consumer trust, and e-commerce platforms – particularly those focused on P2P sales – are using Sesame Credit as a weapon in the battle to soothe buyer skepticism.

Sources

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