Since the start of the new year, Alibaba’s second-hand e-commerce platform Goofish (闲鱼, sometimes known as Xianyu) has been seen as a barometer for what’s big among younger consumers. It has also transformed from a simple marketplace for physical goods to a platform for services and side jobs.
When the “guzi/goods” swept offline retail last year, Goofish became a huge trading place for second-hand figurines and ACGN merch. Sold-out items on the platform is usually a good indicator of the hottest IPs of the moment. For example, Ne Zha II-related merch generated 3 million RMB (412,110.60 USD) in just one day this month after the film broke all records at the box office. My Little Pony and Honor of Kings also had their moments on the platform.
With AI becoming increasingly available for everyday use and people’s interest continuing to grow, AI-related listings have also become prevalent on Goofish. Whenever there’s an update on ChatGPT or Kimi models, the platform would see a wave of “daigo” applying for memberships. When DeepSeek broke the internet just before the Chinese New Year (CNY), Goofish saw people creating prompts for their AI boyfriend or girlfriend. This aside, Goofish also ran a campaign on discarded Valentine’s Day presents on 15 February this year.
From unused coupons to group-bought cinema and concert tickets, Goofish has been a great place for young consumers to spend less for more, especially when it is hobby-related. In addition, Goofish also became a second job or freelancing platform for users to sell their skills on. For many, it has become a quick indicator of youth culture, just like Rednote and BiliBili. With Jack Ma’s first stop being Goofish after returning to Alibaba HQ this week, the future of the platform is certainly worth following.
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