Who says sustainable and profitable can't coexist?
Because if you're tired of cluttered closets and overflowing storage spaces because of too much stuff... You can give them away while making profits!
Wondering how? It's through reCommerce!
In this blog, you'll learn everything about reCommerce so you can be sustainable while making some money!
What is reCommerce?
ReCommerce or reverse commerce talks about buying and selling pre-owned or vintage goods. Usually, you can buy these online and through a resale marketplace or by conducting a trade-in.
ReCommerce can make items more usable despite their age and can reduce waste. It's also a broader retail market because products can range from different categories... like used electronics, clothes, etc.
Also, the recommerce market requires more work. You need to resell, clean, refurbish, recycle, and upcycle the products.
In doing so, you can extend the lifespan of the products and prevent them from going to waste. Also, other people can take advantage of them.
The reCommerce industry has become a thing for years because more people are pushing for environmental advocacy. They want to reduce harmful environmental impacts and conserve natural resources.
What are the benefits of reCommerce?
This business model has different benefits, some of which are:
1. Cost savings
If you're planning to sell pre-owned items, chances are you can buy them from other resellers for a lower price.
Or if you're planning on selling your own previously owned goods, you can reduce your capital. Because you'll need to spend your budget on other things to run your business, like websites, logistics, etc.
2. Good resale value
Let's say 10 years ago when you had uncontrollable shopping habits, you bought a ton of luxury items. Those items aren't available in the market in 2023. Some of them are even increasing their value.
That's when you'll know your items have a good resale value. More people want to get a hand of those products that aren't in the market anymore... And if you have it, some of them will pay more.
3. Sustainable living
You can do your part in reducing harmful environmental impacts by reducing consumption.
Since you're selling pre-owned goods, these items didn't take new resources and produce gas emissions to create.
Now, want to make more sales in your reCommerce services?
5 Ways to make sales on your reCommerce business
You can increase your sales on your reCommerce business if you...
1. Sell unique pieces
Think of this... If customers can buy the same products as yours from different sites or thrift stores, which can be cheaper... Why will they buy from you?
So, the answer is by selling unique pieces that aren't available in the market anymore. These can be items from brands that released a specific collection years ago.
Or, these can be products sourced overseas that not everyone can get a hold of. That's how you can make more sales and attract loyal customers.
2. Sell offline
Okay, this might be ironic because reCommerce means selling online. But this means you can also participate in garage sales, flea markets, or place products in brick-and-mortar stores.
This way, you can expand your customer base and reach people who haven't discovered you online.
3. Take great product photos
Pre-owned items don't mean appealing. And you can prove that by taking excellent product photos! You can use these images on your website, social media platforms, advertising channels, and more.
To take great product photos, make sure to use a background that will amplify your products. Take different angles to showcase what they look like. And use props!
Using props will make your product images more lively and pleasing to look at.
4. Build customer relations
Building customer relationships can help you increase customer retention and loyalty. Not only that... But you can also strengthen your brand credibility!
If potential customers see you have strong customer relationships, they can easily trust you.
You can do this by strategizing post-purchase activities... offering discounted items to repeat customers, creating loyalty programs, and more.
5. Improve your strategies
Over time, some strategies won't work anymore because the digital world is fast-paced. So, what should you do?
Keep yourself updated with the resale market trends. Doing so will help you make data-driven decisions for your business.
You also need to update your website if there are changes in your brand. Or, check for some bugs and ensure that your site is running smoothly and isn't disrupting shopping experiences.
Also, constantly research ways to improve your business. You can do this by using an eCommerce blog and reading an eCommerce book as a resource.
Join the reCommerce movement now!
If you want to make a positive impact while saving and making more money... Then reCommerce is for you!
The best thing about reCommerce is you can start small. After decluttering your stuff, you can post it online. You don't even need to have your own website yet.
You can do this on several platforms, like Facebook Marketplace, eBay, or even your personal social media accounts.
But if you want to go all out on selling... You can learn different marketing strategies from reading...