ReCommerce is the latest tool in the arsenals of manufacturers and retailers across a multitude of industries but is most prevalent in the consumer electronics market. It has become a near necessity in terms of retaining current customers and luring in new prospects. As consumer demand for the next best thing increases, so does the need to deal with old, outdated electronics.
Trade-in, Trade Up or Offer Cash
By offering consumers the option to trade in, trade up or simply cash in on unwanted consumer electronics, companies can then re-enter those electronics to the marketplace. What that means is that small businesses have the potential to create income from the same product multiple times. ReCommerce not only expands the market, but it also increases profits and helps small businesses stay ahead of the competition.
Leverage the Market
Knowing that there is a market and being able to effectively tap into it are two different things. Big name retailers have been engaging in reCommerce for decades. These companies have always had to deal with product returns or recalls and the ensuing inventory influx in creative ways. Many retailers opt to sell returns through emerging global marketplaces, creating a secondary market for these unwanted electronics. What is considered old technology to one individual is a perfectly good and affordable device for another. Even cell phones that would be regarded as a paperweight in the United States can still carry monetary value in another country.
Economic and Environmental Stewardship
Another way companies process device buybacks is by dismantling the electronics and recycling the parts into newer models. Not only are there usable parts, but there are also reusable materials such as plastics and even precious metals that can be harvested. This is a very efficient and lucrative market strategy, not just in terms of financial gain, but in perceived environmental stewardship as well.
ReCommerce Platform for Small Business
Despite the success that big name retailers have experienced, it has always been difficult for small businesses to cash in on the trend. That is, until now. The reCommerce industry has steadily grown over the last few years and now even the smallest of retailers can get a piece of the pie by teaming up with reCommerce companies.
Turnkey Solutions to Engage Consumers Online & In-Store
Sourcely, is on the cutting edge of the reCommerce industry by giving small businesses the opportunity to participate. This is accomplished by offering innovative services that help retailers cash in on cast-off electronics. The concept is simple and is aimed at helping the business owner set up a turnkey platform to engage consumers both online and offline in the reCommerce cycle. Contact us to find out more about how your business can cash in on reCommerce just like the big retailers do.