CompAsia ramps up Southeast Asia expansion
Mobile gadgets resale platform CompAsia is expanding its presence in Southeast Asia, opening new e-stores in Singapore and Thailand.
The launch results from the growth of the ‘re-commerce’ movement, where – for sustainability reasons – an increasing number of consumers are looking for pre-loved products.
CompAsia’s e-store business in Malaysia has achieved 2500-per-cent growth over the past two years due to the influence of movement restrictions that “amplified the convenience of doing business on the CompAsia platform”.
Founder and CEO of CompAsia, Julius Lim, said CompAsia Singapore already saw growing traffic as “the network upgrading from 4G to 5G is further pushing the sales of smartphones and customers are actively looking for the best deals and reliable trade-in options”.
To date, CompAsia has sold more than 500,000 devices across its resale platform.
“CompAsia is changing customers’ mindsets in buying second-hand gadgets,” Lim said. “When you buy on a recommerce site, you are not only extending the lifespan of the item, but you are also diverting waste from landfills, which means a healthier planet.”