The Recommerce Revolution

Posted 23-01-2023 by Adam

What is Recommerce?

Recommerce is a business method that involves the resale of previously owned products. Facebook Marketplace, eBay, Vinted, Thrifted and other platforms fall under this category. The recommerce sector has seen several revolutions in the past years, thanks to the internet. Today, our shopping habits alter and adapt for a variety of reasons, and we can get a lot of what we desire and need on the internet - gently used and resold by anyone eager to pass things on.

The Impact of Recommerce on the Fashion Industry:

Fashion recommerce is the rental, resale, or thrifting of clothing. Rather than purchasing new outfits and then donating or discarding them, people are seeking for new methods to access and own clothing. Over the last three years, the fashion resale sector has grown faster than traditional retail.

More users can now reach the resale market with the advances in technology. It is now a simple process that anyone may participate in without even leaving their house. Customers may easily send unwanted goods from their homes to vendors and earn cash immediately. Customers may search through thousands of things on the internet and rapidly limit down their options. Images and improved product details can offer buyers the confidence to purchase, even if the item has been used. Most of these operations are now automated, allowing platforms to be more efficient in obtaining, selling, and pricing out apparel in large quantities.

The development of recommerce is being driven mostly by millennials, who have grown more conscious and aware about the effects of fast fashion and their general purchasing patterns.

Big Platforms and Marketplaces with their USPs

There are now several resale and ecommerce platforms available, making it easier than ever for individuals to sell anything they wish. Here are some of the most popular recommerce marketplaces:

ThredUp

ThredUp is an online resale business (or online thrift store) that combines the convenience of internet shopping with the low pricing of thrift shopping.

How does ThredUp work for you as a Seller?

1. ThredUp sends you a Clean Out Bag Kit. This package includes a pre-paid shipping label.
2. You pack your slightly worn clothes, footwear, and accessories and send them off using the label given.
3. ThredUp will evaluate and process your products. They evaluate what they are able to sell and email you a price for each product.
4. You get 10 days to either accept or reject their offers. If you accept, your profits are put into your Bank account. If you reject, ThredUp will give your belongings to charity or recycle them.
5. Once you have accepted their prices, all you have to do is wait for someone to buy your products, and your job is done.

What makes Thredup different?

For beginners, Thredup is a little easier to manage. The UI is straightforward and simple to use, and the posting procedure is quick and easy. Another significant distinction is that Thredup manages the entire shipping procedure for you. All you have to do is pack your products and send them off at a UPS facility. If your item does not sell, Thredup will donate it on your behalf. Finally, Thredup pays slightly higher than its competitors.

The RealReal

The RealReal is the world’s largest and most trusted resource for authenticated luxury resale.

How does The RealReal work for you as a Seller?

If you have any luxury products to sell, this is the place to post them and get paid instead of hanging them in your home. On their website, the organization offers a straightforward sales process. They now offer sell upfront options, which allows you to sell a product in any chosen brand and get paid instantly.

However, before you go with the upfront option, you need to schedule a meeting with the experts to discuss the items and procedure. Once you have been accepted as a seller, you can begin receiving the upfront sell option, in which you receive funds within two weeks.

Pros:

• They deliver globally and are reachable from anywhere in the world.
• They provide affordable pricing plans that are calculated by the retailer.
• They value diversity and culture in the workplace.
• High-end products are preserved in excellent condition.
• Online reviews about them are highly positive.
• A wide range of items from various manufacturers, both for men and women.
• Numerous client discounts and promotions.
• Experts validate the products for standard quality.

Vinted

Vinted is an online platform where you can buy, sell, and trade new or used products. The goods are apparel and accessories. The website was founded in Lithuania in 2008, but it has since spread around the world, and it was introduced in the United States in 2010. The mobile app was built and published in 2012, and the firm was valued at €1 billion by 2019.

How does Vinted work for Sellers?

The first step in using Vinted to sell products is to install the Vinted app for free on your phone, tablet, or PC. The method for uploading any item is simple. This begins with you photographing your item, entering a description, and establishing a price. You next choose whatever parcel size your item should be shipped in, and you are almost done.

When someone purchases your item, you will be prompted to print a shipping label. This must be printed and affixed to your carefully wrapped box.

Vinted's selected carriers are Royal Mail Standard Second Class, Inpost, UPS, and Hermes (EVRI), thus it is your obligation to drop the box off at an authorized pickup location.

The app allows you to track the delivery of your shipment and will notify you when it is picked up or delivered to the customer. Vinted will then pay you about 2 days following delivery to allow the buyer to inspect the product and report any faults. If no problems are identified, the entire purchase price is credited to your Vinted account. You may then leave it there to use on Vinted or withdraw it to your preferred bank account.

Pros:

• Zero fees on sellers.
• Easy to use and to list.
• The buyer pays postage.
• The platform is so user-friendly.
• Quick withdrawal of money upon confirmation of delivery.

The Main Audience of the Recommerce Revolution

With such wide user bases, big resellers have emerged, some of whom have earned large fortunes by reselling old items at a profit. The main elements supporting recommerce development are a combination of various trends and evolving cultural attitudes, mainly within younger shoppers.

Both Generation Z and Millennials are price-conscious customers who prioritise product pricing when making purchasing decisions. Generation Z is less likely to have a reliable income, however they are concerned with sustainability and taking environmentally mindful decisions. This makes secondhand products a functional and attractive option—it is less expensive than new items, and it's ethically responsible.

Recommerce aims to replicate the experience of thrifting or secondhand shopping online. Customers may discover unique products that are not always accessible at large shops or in the most recent season collections.

The Pros and Cons of the Recommerce Revolution:

Finally, fashion recommerce supplements traditional retail. It appeals to younger, digitally native buyers; enables brands and retailers to communicate with consumers in separate ways; and allows customers to experiment and take chances with their wardrobes without having to pay full price for an item they may only wear once. It increases the usable life of clothing and items, reducing waste and delaying disposal rates.

Recommerce businesses of all kinds and sizes may use data-driven insights obtained from consumer feedback to adjust prices and product selection. Moreover, predictive analytics focused on voice-of-customer data may assist recommerce operators decide whether to give discounts, vouchers, or loyalty benefits to consumers.