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記事: Re-Commerce

Re-Commerce

Recommerce, commonly referred to as "resale commerce," is the activity of purchasing and reselling previously owned goods online, usually at a discount.
Re-commerce describes the practice of selling previously owned goods to customers who will reuse, recycle, or resell them.

Naturally, reselling previously sold goods is nothing new. But now that re-commerce has entered the digital sphere, it is more effective than ever thanks to the resources and reaches made available by online buying and e-commerce infrastructure. 

Re-commerce helps with the environment by lowering the footprints of fashion. Moreover, it helps lower the costs for businesses as well as for clients.

How Does Re-commerce Work?

There are multiple ways in which re-commerce works. Recommerce refers to the large-scale recycling of used goods that are still functional while offering a reasonably priced alternative to purchasing something new. At the micro level, it becomes more challenging and particular to eCommerce. Products may be high-end purses, pogs (remember those? ), or construction equipment costing a million dollars.

Items may be well-used, hardly used, or even upcycled, which is the process of transforming used materials into new ones. One example of this is turning glass bottles into planters.

Here are a few examples of how re-commerce companies operate:

  • P2P or peer-to-peer markets. Peer-to-peer e-commerce platforms link buyers and sellers of previously owned or used goods so that they can do direct business. Examples include Facebook Marketplace.
  • Managed re-commerce solutions are more detailed and all-encompassing since sellers or brands must go through stringent verification procedures. The RealReal and Rent The Runway are two examples.
  • Re-commerce initiatives that are managed internally by businesses who sell other e-commerce goods. For instance, Levi's have internal re-commerce initiatives. They are advantageous because they enable brands to keep selling previously owned or used goods within their respective markets, which generates additional revenue.

The Most Interesting Re-commerce Statistics in 2023

With Re-commerce going viral, here are the most interesting statistics that you might need to know about in this booming industry: 

  • A staggering 93% of buyers are interested in re-commerce products since they may be purchased for less money.
  • According to an eBay survey, 78% of millennials and 80% of Gen Z respondents both bought used goods in the preceding year. Gen X (75%), Baby Boomers (70%), and Post-War (62%) were all outdone by both groups.
  • Thred Up's 2020 Fashion Resale Market Study predicts that C2C and B2B resale activity would grow by more than 55% by 2024 compared to recent years. 
  • Re-commerce merchants are growing five times faster than off-price stores and 20 times faster than the overall retail sector, according to Coresight Research.
  • Re-commerce is expected to develop 10 times quicker, reaching $70 billion by 2030 (or 23% of the market), from its current size of $73 billion in the apparel industry alone (3.5% of the global fashion market).
  • Nowadays, 49% of the global market for re-commerce is made up of clothing, footwear, and accessories.
  • According to GlobalData, the global market for used clothing will increase to 52 billion pounds in 2023.

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