Trend Alert is a new series here on the Voxburner blog, introducing you to the latest brands, products and services that are trending with 16-24s.
While countries such as Sweden are working towards a cashless society, Cash is all the rage in Japan… a pawn shop app called Cash, that is. Only a few months after launch, the startup behind the popular product was just purchased by one of the nation’s largest ecommerce businesses, DMM, for the impressive sum of 7 billion yen (around £46 million).
Cash is an alternative to online marketplaces such as eBay and Depop, or the Japanese equivalent Mercari, with one key difference: you earn money as soon as you list an item, even if it hasn’t sold yet. Similar to the traditional pawn shop concept, items are valued based on images uploaded by the seller, and they are offered a cash advance. The valuation is determined by data taken from other online marketplaces, and is non-negotiable - sellers can simply take it or leave it.
The innovative concept targets those who need a quick cash injection, similar to the appeal of a payday loan. However, the bright, stylish visuals of the Cash app and website have more in common with Snapchat than Wonga. This is clearly a product targeted at Millennial trendsetters, looking for a marketplace app that makes selling unwanted clothes and accessories frictionless and fun.
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