With the rapid development of e-commerce along with the change in consumer buying habits, these days, more and more recommerce applications and websites are born and used, especially focusing on clothing, luxury and high-priced items for resale.
This article will take a deeper look at recommerce and why it is a viable option for sustainable retail.
What is Recommerce?
Recommerce is a subset of E-Commerce. It refers to the resale of pre-owned items through online marketplaces. This type of commerce can expand to sell many different types of goods. Examples include taking old products and making them new again. The market is a rapidly growing market, especially between Generation Z and the younger generation.
Overview of the market
Recommerce is an extremely exciting and active market because the majority of users of this market are Gen Z, the generation with a quick approach that e-commerce is targeting.
The market has grown to about 33 billion USD by the end of 2021, which is a harbinger of a big shift in today’s consumer shopping habits – towards sustainable consumption.
Today, the recommerce market is so vast that there are many online marketplaces that give resellers and businesses the opportunity to diversify their potential and take a multi-channel approach. Popular marketplaces include RealReal, Depop, Poshmark, Mercari, and Amazon.
Why is recommerce a viable option for sustainable retail?
Benefits of recommerce
Today’s consumers are especially concerned with the sustainability and environmental friendliness of products, so recommerce is a great choice for businesses. Businesses can renew old items and extend their lifespan. Instead of dumping products that clog landfills, it is a great form of environmental protection, providing the opportunity for repeated use.
Besides, recommerce has many other benefits, such as increasing sustainability. This type of trade facilitates the recycling and reuse of items rather than the production of new items. Besides, it also helps consumers ensure affordability, and save money on pre-owned items because they are discounted when resold.
In addition, it also has a positive effect for better consumption. This type of commerce encourages people to buy and sell items and clothing in good condition but not much use.
Recommerce is the next big trend in e-Commerce
While recommerce is not a new concept, this type of commerce is undergoing a major transformation. It is driving revenue, customer loyalty, and accelerating environmentalism.
With the rapid growth demonstrated by more and more businesses and brands entering the market, this may partly answer that recommerce will be the future of e-commerce. With a strong digital marketplace (eBay, Craigslist, ThredUp, etc.) and the proliferation of trusted, easy-to-use digital marketplaces, today’s consumers often easily market and sell used items are abundant, which makes this market more vibrant and diverse than ever. This is also a viable option for sustainable retail
Recommerce may not be an option for most businesses these days. But with today’s changing consumer habits and changing environment, many sustainable retail businesses will turn to this type of commerce.
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