Put simply, recommerce (aka “reverse commerce”) is the economic circulation of pre-owned goods and commodities over the internet. It’s a growing trend that has been around for years but is just starting to get some real traction as eCommerce continues its rapid growth and expansion worldwide.
Thrift stores and vintage retailers have been around for years. But the concept of selling used goods online has only really taken off recently, and it’s a trend that’s only going to continue to grow. This growth can be attributed to a number of factors, including the expansion of social media and the streamlining of online financial transactions.
If you’re a seller, recommerce is a great way to get rid of old, unused, or unwanted goods. It’s also a way to get some extra cash for things you might not be able to sell at your thrift store or vintage shop. It can be convenient and profitable, but you need to know what you’re doing before jumping into it.
The Benefits Of Recommerce
Sellers get a lot out of recommerce by getting rid of their used or unwanted items. Buyers get a lot out of recommerce by getting access to items that might not be available in their local stores. Both parties support sustainability by reducing waste.
However, it’s important to note that recommerce isn’t just about the money. There’s much more involved than simply making a quick buck off your stuff. There’s a social component to recommerce that’s just as important to some people as the financial aspect.
The idea behind re-commerce goes something like this: buyers are looking for specific types of products that they can use or resell for a profit, and sellers want to get rid of their old or unused items and make some extra money. So it’s a win-win situation for both buyers and sellers!
How Does Recommerce Make Money?
Selling used or new items online are one of the most common forms of eCommerce. But there are many different ways to sell online, from selling products directly on your website to use an eCommerce solution like Shopify or BigCommerce.
The main thing to keep in mind as a reseller is that you need to be able to find your audience. Figure out how you’re going to reach people who are looking for what you have and are willing to buy it. Make sure you can find your audience and you’re able to convert those leads into sales.
Where Does Recommerce Fit in the eCommerce Ecosystem?
Recommerce is one part of the larger eCommerce industry. It’s an important piece because it’s a realistic way for people to get what they want at a significantly lower price than they would otherwise.
The origins of re-commerce go back to the early days of eCommerce when websites first started selling products online. At the time, it was common to see websites selling used goods from local businesses or from individuals themselves. But it wasn’t until the rise of online marketplaces and social networks that the practice really exploded. Now, with so many different ways of selling used goods online, it’s easier than ever to find something you need without paying full price!
Social Media’s Role in Recommerce
Social media has played an important role in the growth and evolution of recommerce over the last few decades. It’s made it easier for sellers and buyers from all over the globe (and all walks of life) to meet each other and connect with one another. Online marketplaces have become especially prevalent after the COVID-19 pandemic and subsequent lockdowns, and social media has helped with their growth.
Social media makes eCommerce easier than ever for people to buy and sell items sustainably and affordably. And it’s made it easier for sellers to find new buyers and make new connections with people who are looking for exactly what they’re selling. Social media makes sales and marketing data readily available to online sellers, which in turn makes it easier for buyers to connect with the products and businesses they seek.
Examples of Recommerce Sites and Services
The oldest examples of recommerce are sites like eBay, where people can buy and sell new and used products from all over the world. eBay was founded in 1995, and it has since become one of the largest eCommerce platforms on the web. Today eBay is home to more than 1 million sellers who list millions of new and used products every month.
Other examples of recommerce sites include Thredup (a clothing exchange), Poshmark (an app that allows you to buy and sell clothes locally), Craigslist (which includes a section dedicated specifically to selling items), OfferUp (an online marketplace for buying and selling secondhand goods, formerly LetGo), Facebook Marketplace (a place where you can buy or sell items with your local community, on the largest social media platform to boot), and many, many others!
What’s The Downside?
Recommerce sites are a great way for people to buy and sell used items. But it’s not always a great experience. Sometimes buyers are met with issues such as the following:
1. The Used Item May Be Damaged
When people sell used goods, those goods may not have been properly cared for.
2. The Used Item May Not Work
Some items may not work after they’ve been used. In some cases, the seller may not even realize the item is on its last legs.
3. The Used Item May Not Be In The Original Packaging
Packaging gets lost or thrown away frequently after the initial purchase. Some sellers are good about repackaging or even keeping the original packaging material.
4. Delivery Can Get Expensive
Both buyers and sellers have some extra burdens when transacting with used goods online. Shipping and handling come with extra costs, especially if the item or item is already used and maybe not in its prime shape.
Tips For Success In Recommerce
Recommerce isn’t always easy, but you can do some simple things to ensure you’re successful with it. If you’re selling used items online, here are a few tips:
1. Research Your Buyers
You need to know what your customers want before you can effectively market your products. You can do this research by looking at your competitors’ websites, checking out their sales data, reading customer reviews, and talking to other people in your niche about marketing best practices.
2. Use A Secure Payment Gateway
Make sure your website uses a secure payment gateway so that buyers can feel confident that they’re making secure purchases on your website. This will help reduce your risk of chargebacks or fraud, which will help keep your business running smoothly.
3. Use A Secure Shipping Solution
Third-party shipping companies aren’t always as secure as they should be (especially regarding packages). So if you’re shipping items, use a secure shipping solution to protect your packages from being tampered with or stolen while in transit.
Getting Started with Recommerce
Recommerce has been around for a long time, but its popularity has grown exponentially as eCommerce expands and people look for ways to save money on their purchases. And social media has played an important role in this expansion by helping buyers and sellers connect with one another in ways that weren’t available in the early days of online commerce. Maintaining a positive relationship between buyers and sellers is important for everyone involved for the industry to continue thriving.