Re-Commerce is an abbreviation of Reversal E-commerce business. Basically, when an e-commerce company do sell out a new product in the market. After some time, the same product purchased by a ReCommence company to resell it again. This complete process of Buying and Selling Goods via an online platform.
Re-Commerce companies buy outdated/old, out of fashion products and do recycle them. After that, they re-sell these products through different e-commerce channel. i.e 2GUD by Flipkart.com
These companies have a set of standards for pricing. They have designed software to determine product prices based on specific set metrics. Like age, wear and tear and market demand.
ReCommerce Business is Trending
Re-commerce terms come in the limelight in a new era of Technology introduced. In this era, people now frequently changing gadgets. Also, the life-cycles of the gadgets get decreased.
So here is demands arise as Re-commerce (Reversal of E-commerce). Few companies started a new process where the buy old gadgets from customers. They Sell again products to Customer and manufacturers too.
In this process, they do repair / Refurbish these gadgets if required do swap spare parts. Sometimes few mobile they may receive in not complete working conditions. In such cases, they use their parts.
This is a different type of business model is currently exist and growing nave before speed.
Re-Commerce Business model is nothing but an online marketplace. To Sell / Buy old Products.
ReCommerce Vs E-Commerce
A Commercial transaction which is electronically gets processed via the Internet is known as E-commerce. E-commerce is basically used to sell New products and services online. This model works Business to Customers selling products to customers.
Similar to E-commerce Re-commerce use the same technology and process for transactions. Here is a difference that in Re-commerce. This model is a reversal approach for Customers to Business. Here is a company buying the product back from customers.
Process of ReCommerce Companies
In a simple process, we can understand they buy old goods and refurbished them and earn profits by selling these products at a higher price.
Companies like Gazelle (USA), Bundli (India), Cashify (India) and Re-commerce Solutions (France). These companies have recently introduced this new business model online and offline market.
These companies do collect old Products and sort with basic quality checks.
Best to Sell old Gadgets to ReCommerce portal
As we know many devices around us especially mobiles are the more sensitive product. If you sell your mobile to unknown personal that can be used for illegal purposes. So, we recommended selling your Mobile gadgets only at best re-commerce portal they will provide you complete transaction records for future purposes. Similarly, these companies do follow rules vice versa.
Means if you are looking for a second-hand gadget, they will provide you with the history of the products. If there are any illegal activities gets the track for that device, you will be safe.
These companies are giving tough competition to Free Classifieds websites. We will share you a fresh article about similarities and difference between Free classified vs Re-commerce.