Niche Alert: “ReCommerce”
There is a post-pandemic trend emerging and it is not new. It is called "re-commerce."
What on earth is "re-commerce," you may wonder...
My good friend Jeffroi does it for years and have a house for it. He calls it the e-Bay house.
Yes, my friends, sale of second hand items in some verticals and going up.
The automotive industry has a very strong second hand market.
Due to growth in income and easy availability of consumer credit, second hand goods lost it's appeal.
In 2020, 33 million consumers bought second apparels for the first time.
Why now?
The pandemic has create a shift in lifestyles.
More people have been forced to make adjustments to their life. Some are making the choice of life first, work second as a priority. This is evident by jobs not being filled.
The economy moving forward...
- inflation will have significant impact on prices
- Debt, already an issue, now made worse by increased spending by governments around the world
- Technology, robotics, A.I. and the fourth industrial revolution will put pressure on jobs and wages
Thirdly, sustainability...
- Increase awareness in sustainability
- Reducing waste is becoming a lifestyle
- Clean air, water and non-polluted soil are necessary for food cultivation and quality of life
ReCommerce, sounds good right?
The big brand think so too.
The clothing resale industry is expected to grow 11 times faster than the broader retail clothing sector ... and it’s expected to double to a whopping $77 billion by 2025.
This is according to ThredUp, in their 2021 resale report.
Levi's launched "second hand" a recommence site for previously worn jeans and jackets.
Urban outfitters launched Nuuly Thrift early this year.
So, is this an opportunity?
Great question...
I will leave that to each of you who are experts in your niche to consider.
Wish all of you a great Frisatsu!
And have fun pondering on "ReCommerce."
Cheers🍻
Recent Comments
34
Great read Stanley! It does seem as if ReCommerce is gaining some serious traction!
The clothing industry could be an interesting one for me, my wife has accumulated so many items that get used once (sometimes not at all) then left to rot in the back of the wardrobe!
I could sneak in and sell these and she wouldn't even realise they were gone!
Appreciate the idea my friend and have a fantastic Frisatsu yourself!🍺
Yes, it does seem like there is traction. However, the idea about selling your wife’s stuff without her knowing, could backfire on you. Tread with caution there ⚠️
It COULD backfire my friend.. but honestly, she has no idea what she has bought, so she wouldn't miss a thing!🤣🤣
Food for thought for sure.
Recommrce sounds better than second hand, and you are definitely right. I see it happening everywhere. Also another one might be off the grid stuff.
People escaping cities and going back to nature, the new hippies. Lol.
And it’s growing, big ticket items as well, generators, solar heating etc.
Stevoi
Happy Firsatsu, Stanley, and thanks for the shout-out! I am surprised by how much money I have made over the years doing this! I am working on getting a Woocommerce store off the ground in 2022, but I am also going to be a seller still on eBay, as well for certain other items!
It's GREAT to hear the "Recommerce" is gaining traction again!
Jeff
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I don't know how re-commerce will be the new trend, friend. I would like to know how the styles of wearables can stay popular.
Every so often there is a new fad of things. This makes people want to open their wallets to try new things. I think having the same old would hurt more than help businesses. All the best!
Good questions. This is less of a trend but may be a change in consumer behavior. We shall wait and see…