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Entries in trends (1)

Thursday
Oct202011

'Recommerce' – why for smart consumers (and companies!), ‘trading in’ is the new buying.

It has never been easier for consumers to unlock the value in past purchases because consumers have always resold large, durable goods like cars and houses. But now almost anything is ripe for resale, from electronics to clothes, and even experiences.

The continued economic instability in the ‘West’ though, means more and more consumers make do with less and less. Despite this, consumers remain hungry for new experiences, which makes selling, trading, or exchanging old and unused items a perfect excuse for a smart, new, guilt-free purchase.

Trendwatchising.com defines three important manifestations of the ‘Recommerce’ phenomenon: brand-led trade-in initiatives, online platforms and mobile marketplaces.

I selected some interesting examples of this trend. The Spanish fashion retailer Mango for instance launched Mango for Mango in May 2011. Consumers, who sign up for the store’s loyalty card, can return items within 12 months of purchase for a 20% discount on new purchases.



For ten days during May 2011, GAP Stores in the US and Canada collected clothes for donation to goodwill. To encourage donations, people who brought in old clothes got vouchers entitling them to 30% off GAP purchases.

Decathlon is launching Trocathlon for a week in October 2011. Stores will buy used equipment in return for coupons valid for six months.

But not only physical goods are relevant to trade in, services as well. For instance the daily deals offered by Groupon and BuyWithMe. It seems that over 20% of these offers are never redeemed (Source: Rice University, June 2011). US-based DealsGoRound allows users to resell and buy these deals. The site also launched an iPhone app in March 2011, to enable users to trade on the go.

A couple of interesting initiatives that provides benefits to both consumers and companies. Food for thought! If you want the read more about the ‘Recommerce’ trend, please refer to Trendwatching.com.