👖👀Remember those old jeans you LOVED back in the day? If only you could get your hands on a pair of them again… Oh wait, maybe you can!
💡Enter re-commerce (a play on the phrase reverse commerce,) otherwise known as secondhand shopping. In times past, thrifting or secondhand shopping was…ahem…not exactly the hip thing.
😎Now? Oh ho, my friend, it’s what ALL the cool kids are doing!
Here are Five Fast Facts about the latest re-commerce trend:
- ♻️What Goes Around Comes Around - The popularity of re-commerce has soared in recent years! Around 82% of Americans buy and sell secondhand goods and it's expected that the amount of re-commerce shopping will grow by 80% in the next five years! This is five times faster than overall retail market growth!
- 🤑Not Just For Buyers - Part of the growth is because you can both buy and sell, as much or as little as you want. Lots of people are using re-commerce as a side gig to make some extra money. “Recycling” of careers is apparently on the table, as well.
- 👜Where To Start - No surprise: Most re-commerce shoppers prefer buying online instead of in-store shopping. The largest re-commerce sites are all the big retail sites you love/hate: Amazon, Walmart, Target, Best Buy, eBay, Craigslist, Etsy, and so on. But there are a lot of excellent sites devoted to re-commerce specifically, like thredUp, Fasionphile, Poshmark, and TheRealReal. Some of these will even guarantee the luxury goods on their site, so you know they’re the real thing. If you’re needing some Gucci or LV bags you can also try places like ReBag. Finding out the hard way your new Louis Vuitton bag is a knockoff will make for a very bad day!
- 🛍️Changing Situation - The landscape of re-commerce has changed over the past 10-15 years. It’s cool now, for one thing. Also, stuff isn’t made to last like it was years ago, so don’t expect as much longevity. And, unfortunately, resellers have figured out their new popularity, too, and have started marking up premium brands, so deals are harder to find. Finally, anyone can get in on this game, so beware the creepy guy selling “Jordans” out of the back of his van!
- 👠🧾Tippy Tip Tips - Before you buy, make sure to read reviews on your seller. Crowdsourcing works wonders for transparency! If you’re buying high end items, do some research on the details that make them authentic (or not). Some re-commerce sites will provide authenticity certification, but you can also look for item-specific authenticators (for example, like PurseBlog for expensive handbags) to ensure you’re getting the real thing. A smile can be fake, but dammit these shoes are REAL GUCCI, thank you very much.
🔥Bottom line: Re-commerce is a fantastic way to save money on all kinds of things, from clothing to home goods to electronics, and more. You would be wise to do a bit of research to make sure you get what you pay for, but there are deals to be had if you’re patient and have a plan in mind. With inflation continuing to make life more expensive in every way imaginable, it’s great to know how you can get great stuff without making your Paycheck break down in tears.
What’s been the best deal you’ve ever found secondhand?
Guess what? The President doesn't really affect re-commerce in your area...but your local & state government reps do! Here’s three small things you can do that make a BIG impact:
