Recommerce The Emerging Reselling Concept in eCommerce
The explosive growth of eCommerce has given rise to many new selling or buying trends. With more and more people purchasing goods online, there is a market for both new and used goods.
That's where recommerce comes in!
Recommerce, or the resale of used goods, is a market that is expanding incredibly quickly, especially among millennials and Gen Z. Even though the idea of recommerce is not new, it is currently undergoing a transformation accelerating environmental protection, customer loyalty, and revenue growth.
ThredUp's 2020 Fashion Resale Market Analysis predicts that C2C and B2B recommerce will reach $64 billion by 2024. And it was just $28 billion just a few years ago.
Such massive growth in the reCommerce industry automatically marks a significant change in consumer behavior and purchasing preferences. This is the reason why a lot of reCommerce platforms are emerging online, with a focus on upcycling products for resale, mainly clothing and luxury goods.
Curiously, the entry barrier to reCommerce is frequently low. You ought to have the option of working either full- or part-time at it, depending on the products you want to concentrate on.
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