Re-commerce, the future of environmentally friendly retail

This article was translated through our The spanish language edition using AI technologies. Errors may exist due to this process. Opinions expressed by Entrepreneur members are their very own.

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In the G20 conference in Rome, we saw a polarized world: political actors aiming to convince the world that they are usually doing something to end global warming and environment activists like Greta Thunberg in opposition claiming that it is nothing more than a media circus. In my view, an urgent solution that individuals currently have at hand is usually to strengthen re-ecommerce, the particular segment from the circular economy that is revolutionizing many industries.

It is known how the fashion industry is the particular second the majority of polluting after the energy industry. Fast fashion , which manufactures a lot but of bad quality, used and disposed of, is one of the particular most harmful methods to consume. Much of the manufacturing leads to landfills or burnt, a tragedy.

The solution is normally to reuse what is present, give it new lifetime, avoid waste. How in order to make these changes? The circular economy, and specifically the development of re-commerce, could be the smartest and the majority of immediate method to achieve this transformation, but to be able to a lot more reliable, it is immediate that an investment end up being triggered in more technologies companies which are carrying away this innovation.

In other industries it is undeniable that will the circular economy will be positioning itself as the alternative to the geradlinig economy. An example is definitely the well-known Kavak, the car buying and marketing company, the first Mexican unicorn.

The pandemic triggered the particular adoption of online platforms for responsible and economically accessible consumption, causing the buying and selling of second-hand items to have an exponential growth, specifically among the younger millennial and z generations as they are activists of fair plus sustainable consumption. Although in Latam there has been a reuse of fashion, in tianguis and bale clothing, now we are usually at the point of pressuring ourselves to change our habits and dignify this practice.

At Troquer we confirm that a minimum of 8 mil Mexicans are willing to buy quality second hand, that is a massive change in the mindset that must be capitalized.

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In fashion, five re-commerce companies are already unicorns in Europe and the United States. One case is Vestiaire Collective, whose CEO Maximilian Bittner announced within 2021 a round associated with financing from Softbank just for 216 million dollars, reaching a valuation of more than a single billion dollars. Another instance of the emergence associated with re-commerce is the strength from the community created within Vinted, another unicorn of this trend.

It is very important note that these two companies have got focused on re-commerce of sustainable objects, that is definitely, high-quality second-hand items, which last 8 times more than accelerated fashion clothes. Therefore we manufacture less quantity, we extend the useful life, we work less, and we do not really throw it away thus quickly. Thus, we effect more.

Challenges just for re-commerce platforms

In Latin America, the biggest problem is to achieve the necessary investment to acquire greater traction from the particular existing second-hand markets, conditioning the selling and buying communities, plus at the same time period promoting market education so that the economic period is closed.

Another challenge designed for these platforms is in order to achieve the necessary provide for the demand with regard to pre-loved products. It can be difficult in order to gain the trust associated with sellers to offer their particular objects online, but they know that in these areas they can find the new owner capable of paying the cost of sustainability. In Troquer we have already maintained to create a neighborhood that is clear about this and we lead inside the preference of purchasers and sellers.

Circularity involves the complex operation that couple of have managed to solve well. Technology is required to unite users, make their experience fun and intuitive, apply machine learning to optimize prices and make wallet-tech systems, because well as self-serve functionalities, as well as automatic customer personalization and user experience services. to make a round service that will, especially young people, the most experienced digital customers, look for inside an organic way.

Consumer demands: modern, digital, conscious, entail that business models need to adapt to a brand new reality . This particular is why re-commerce may be the great bet of retail store in terms of large scalability and rapid growth and why greater expense is urgently needed in all Latin American industry to capitalize about this brand new form of the marketplace.

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