Recommerce
How does re-commerce work?
In the context of an increasingly sustainability-conscious society, the concept of recommerce is gaining traction as an innovative response to production and consumption challenges. The term "re-commerce" is a neologism that combines "re" and "commerce," indicating a commercial practice that promotes the resale and reuse of existing products. More than just the sale of used goods, recommerce represents a shift in mindset toward a more circular and ethical consumption model.
From specialized online platforms to the resurgence of thrift markets, recommerce radically transforms how we perceive consumption and ownership, offering new opportunities to reduce waste, promote sustainability, and reinvent the notion of value.
How does re-commerce work?
Re-commerce works through online platforms that facilitate the sale and purchase of used products, such as Ebay, and Vinted and , Wallapop, which are becoming increasingly popular nowadays (we will talk about these platforms later in the article).
On these online portals, sellers can list their items, with the help of tools provided by the platform to determine the price and describe the state of the product. Buyers can search for items, compare prices, and read reviews before purchasing. Recommerce platforms earn money through sales commissions or additional services, such as verification of authenticity or shipping.
An advantage of this new trend, for consumers, is saving money and gaining access to otherwise inaccessible products, while reducing their environmental impact. For companies, it is a new sales channel and a way to build customer relationships.
Re-commerce has nothing to do with “reselling”, these are two different things:
In re-commerce, used products are always inspected, and repaired, ensuring they are in good condition and ready for a further life cycle. This extends the useful life of the product and helps reduce the environmental impact.
On the other hand, “reselling” is simply the act of reselling a product, without any regeneration process.
Let’s analyse, for example, two companies that are the leaders in this trend: Vinted and Wallapop.
Re-commerce, with its philosophy of reuse and waste reduction, has found fertile ground on online platforms like Vinted and Wallapop, which are redefining the concept of the second-hand market. Vinted, born in 2008 in Lithuania, and Wallapop, founded in 2013 in Spain, have quickly established themselves as global leaders in the recommerce sector, offering users the ability to buy, sell, and trade a wide range of second-hand items, from clothing to appliances, and from designer items to household goods.
Both platforms stand out for their user-friendly interfaces and large user bases, fostering various offerings and demands. Buyers can browse thousands of listings filtered by category, size, brand, and more, to find exactly what they are looking for at affordable prices. On the other hand, sellers can easily list their items for sale, snap photos and add detailed descriptions in just a few simple steps.
As we can read in the article “Vinted acquires Trendsales” (Source: Vinted acquires Trendsales (ecommercenews.eu)), Vinted is really expanding itself all over the world. In this case, the second-hand fashion company it is expanding in the Nordic region, thanks to the acquisition of the Danish competitor Trendsales.
And this was just the beginning. In September 2023, Vinted launched in Denmark.
In summary, Vinted and Wallapop represent two excellent examples of how re-commerce is transforming the way we buy and sell second-hand items. These platforms are redefining the concept of responsible consumption, offering consumers a sustainable and affordable solution for their shopping needs.