Have you been hearing lots about the term ‘reCommerce’ but do not feel entirely sure about what it is and how it works? Read on to learn about it. Those dealing in reCommerce have surprised the off-price sellers in the eCommerce industry by showing faster market growth and gaining acceptance and appreciation particularly among the millennials and Gen Z.
The business model of reCommerce is based on the idea of selling reused items on eCommerce marketplaces. In simple words, reCommerce consists of the many sequential activities involved in reselling pre-loved items. Recommerce has experienced a major boom in its growth with the increase in popularity of online business. It is no longer limited to certain physical stores, instead resellers everywhere are making money from behind the screens via online marketplaces. It is a practical, affordable, and an environment-friendly, kind of dead stock-free way of business.
Everybody owns something another person wants as well and probably can not afford to purchase at full-price, and that is where reCommerce steps in. Once you no longer need to use the said item, but it’s still in great shape, you can sell it at a lower price. Online reCommerce brands and marketplaces allow you to list your products on their mobile apps or website for reselling and charge you a certain percentage from the amount you earn.
Anything that is in demand, and you own it in good condition can be resold. Customers today like keeping up with the trends and the inflation doesn’t allow it so easily, which is why reCommerce is so popular. Therefore, stock up on any trendy goods and get ready to pack and ship them for fulfilling your online reCommerce orders. However, the most popular products in reCommerce are:
Recommerce is a great way to enjoy different products without splurging extra money and leaving additional consumer footprints. Following are a few key benefits that should convince you to try reCommerce if you haven’t already.
Be it a business or a consumer, cost is the top-most decisive factor for all. Since reCommerce involves reselling used items, you can expect good purchases at discounted rates. This way, items that would have not met a customer’s budget otherwise, can be procured and enjoyed.
With the consumers becoming increasingly conscious about the sustenance of the environment, and recycling goods, reCommerce is the easy solution to keeping up with trends without increasing the demand in the production of new ones. Thereby, reducing the usage of raw materials and commercial energy consumption.
Recycling has been proved to be the main solution to many environmental problems, and reCommerce encourages both sellers and buyers to recycle. While sellers get to recycle unwanted yet good quality items instead of hoarding them, buyers get to enjoy wanted products at lower prices.
f you’re a newbie at reCommerce or just looking for guidelines to help you thrive, here’s a few pro-tips for you to try:
Have you been hesitating stepping into the world of reCommerce despite a successful experience in merch fulfillment? Now is the time to change that! If you’re thinking along the lines of ‘how’, first think of ‘why’. If that convinces you, we can then work on understanding the 'how'.
Have you found yourself submerged in a stock of returned items or items in general, in your warehouse storage, that you doubt will sell out now due to being out of season? Add a ‘Sale’ category to your website and use it as a reCommerce channel to get those items moving. Another thing you can also do is partner up with a third party logistics (3PL) company such as ShipBots and benefit from their eco-friendly shipping solutions with competitive fulfillment center pricing, enabling you to offer further lowered prices on these goods.
Recent surveys have shown a huge trend among the younger consumers to buy pre-loved items at lower prices. Some have even switched to exclusively shopping for items that are resold. This has benefited them both in terms of lowered price tags and environmental-friendly shopping.
This calls for transitioning to a strong and innovative reCommerce business model where a 3PL fulfillment company such as ShipBots can greatly aid retailers looking for help with reCommerce. With the use of efficient demand forecasting methods and an effective shipping strategy, ShipBots will help your business thrive even during these Covid-stricken times. It is safe to say that reCommerce is here to stay, as it is the golden answer to many issues faced by both sellers and consumers.
