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Have you noticed that more and more re-selling businesses have been popping up both online and in brick-and-mortar shops? This is referred to as "ReCommerce."
If you want to get in on the trend, now is a perfect time. This practice of buying and selling second-hand goods isn't going away anytime soon.
But why is it so popular, and how do you get started? We're here to talk about it. Keep reading to learn all about why online retailers who want to be successful should get in on the ReCommerce trend.
ReCommerce is the practice of selling second-hand or pre-owned goods. When buying and selling secondhand comes to mind, most people think of things like thrift stores or antique shops.
While these places are still popular (and more popular than ever), with the boom of online retailers, more and more people are going online for their thrifted finds.
Unlike standard eCommerce that relies on fast fashion, expensive firsthand products, or cheap products that are poorly-made, ReCommerce relies on higher-quality or more affordable items from other people.
One common form of ReCommerce is through the sales of refurbished electronics. You may receive these refurbished items to sell to customers for a reasonable price. You could also sell the unusable items to others to repair on their own (and then use or resell).
Many people get concerned about sourcing ReCommerce items because the avenues aren't as clear. While there are easy-to-find suppliers for standard eCommerce businesses, you have to do some searching to find secondhand items that are up to par.
There are several ways to source your secondhand items, and it all depends on what you're planning on selling. Your process can also change once you gain traction and your business gets more popular.
Most people find their items by going to brick-and-mortar thrift and resale stores. They pick out items that are affordable but in good condition and that they think their customers will like.
Most people use clothing. It's common to find high-end or vintage items in thrift stores for a fraction of what they're worth. Old appliances, furniture, and housewares are also found in this way.
Once you gain popularity, you can have people send you their gently-used items for a small amount of money or store credit. This keeps your supply fresh and your customers happy and ready to come back for more.
You can also go through other professionals to get second-hand items. If you use a supplier management system, it's easy to keep all of these purchases organized so you're ready to put them on your virtual "shelves" in no time. This works best for electronics and other non-clothing goods.
So what's up with everyone getting so excited about second-hand items nowadays? While thrifting has always been fun, why are people of all ages suddenly more interested in it now?
There are plenty of benefits to ReCommerce that help both you and your customers. Let's talk about it!
One of the great things about ReCommerce is that you're supplying things that your customers don't get to see. They're buying things that they won't find at stores.
Many eCommerce stores use the same suppliers as all of the other stores within their niche. Sometimes the stores are cheap Chinese suppliers that savvy shoppers know how to navigate directly.
Customers want to know that the item that they're getting isn't a dime-a-dozen thing that everyone else has.
Having unique finds makes your business a novelty. People will be attracted to your store because of it.
This is a huge factor in 2021. As we learn more about society's impact on the environment, more people are doing their best to lower their carbon footprints. There's a wave of people who want to be environmentally-friendly.
When you shop firsthand, unless you're going through ethical suppliers, this isn't possible.
Fast fashion and manufacturing is a cruel system that relies on underpaid labor. It also releases emissions into the environment. Because many of these items aren't made to last, people go through them more quickly, contributing to landfills.
When you buy or sell second-hand goods, you're reusing and recycling what's already there. Nothing goes to waste. Even fast-fashion or affordably made products are more sustainable when they're given a second life.
Getting items for a more affordable price is always tempting for both you and your customers. When you're using ReCommerce, you aren't exchanging the cost for the quality.
Many people say "they don't make things the way that they used to," and there's some truth to that. With cheap production methods and poor quality control, many items that are bought new aren't up to good quality standards and they're made to fail.
When you're selling older items, durable items, and items that have been refurbished for future use, you know that the quality is as good or better than items that your customers can pick up at any shopping mall.
Some items can be priced high even when you bought them for a low cost as well. This might not work out as well for the customer, but they get a high-end item that may have been otherwise difficult to find. For example, if you find rare old products or designer clothing.
ReCommerce is the future of eCommerce. People are less interested in standard retail and modern firsthand objects. You'll be doing them a favor by giving them a high-quality space to find gently-used items, and you'll be doing a favor to the environment.
Do you need help getting your new business up and running? Get in touch with us today to learn about our features and schedule a demo.