Recommerce is the reselling of used goods. This also includes damaged returns that are otherwise unsellable without intervention.
Reselling isn’t new – we are aware of the second-hand market from charity shops and consignment stores. In the early 2000s, reselling became digital, with websites such as Marktplaats.nl, eBay, Tweedehands.be, Craigslist and others appearing online. Thanks to the growth of online resale platforms in the mid 2010s, the term ‘recommerce’ was born. These platforms like Tradesy, Twice, ThredUP and Vinted have taken the sale of used items to a more professional level.
With the existing and growing number of reseller platforms and with brands looking to resell items, the market has seen and continues to see growth. Brands in the fashion and lifestyle space should take note as their products make up the majority of this recommerce growth.
There has been a shift in brands’ and customers’ expectations and comforts with reselling. Operations to resell products at scale have had to be developed, technologies have had to evolve to create an inviting customer experience, and, finally, brands have had to recognise the opportunity to invest in this new business model.