Generational Mindset Shift is the Big Catch of Recommerce: GoodFirms Research 2022

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GoodFirms

GoodFirms

Technology and Apparel Lead the Recommerce Revolution.

Modern consumers are actively seeking ways for sustainable buying options.”
— GoodFirms Research

WASHINGTON DC, WASHINGTON, UNITED STATES, January 13, 2022 /EINPresswire.com/ — GoodFirms, the global research, and review platform, recently published its new research study, “Recommerce is gaining Big Mo: Is this a Massive Pathway for the Sellers?” This research uncovers valuable perspectives on the recommerce industry, which is growing exponentially, especially in the aftermath of the pandemic. The study examines how organizations are shifting from linear to circular economies with the recommerce revolution. GoodFirms also analyzes how sustainability, affordability, and the generational mindset shift are now significant boosters of the recommerce industry.

The research further elaborates on the current trends in the recommerce world, such as the rise of recommerce platforms, growing consumer awareness for the environment, and rising investment in the recommerce stream.

“The rising applications for recommerce, fast logistical solutions, mindset shift, and enhanced connectivity have combined to boost consumer confidence in recommerce solutions,” says GoodFirms.

GoodFirms analyzes major industries such as fashion, technology, furniture, fitness, and sports equipment, plastic, and more that are leading and supporting the recommerce revolution. With increased awareness of sustainability among the millennials and GenZ, recommerce is seeing voluminous growth recently.

“Consumers, shareholders, and even employees are likely to abandon brands that forego ecological standards. Companies are, therefore, putting the planet before profit as a part of their /*more revenues, better manage returned goods, and mitigate supply chain challenges with recommerce adoption. Buyers get more value, better-priced products, multiple price points, etc., while shopping from recommerce platforms. Their thrift-buying initiatives get a boost with recommerce platforms.

The research points out the major challenges associated with recommerce, such as authenticating used products, accurate grading of product quality, fixing warranty roles, matching the sellers and the buyers, setting prices for used items, logistical responsibilities, etc.

The research concludes that the world is heading towards a circular economy led by resale, recycling, refurbishing, and recommerce initiatives.

Key Findings of the Research:

-With recommerce, businesses are replacing linear economies with circular ones.
-Recommerce is a new business model that offers retailers a series of benefits and an opportunity to increase their revenue streams.
-Recommerce is growing expeditiously with multiple industries adopting recommerce. However, the fashion, electronic, automotive, furniture, and sports equipment industries are leading the revolution.
-Growing sustainable shopping habits of consumers in the pandemic period is one of the prime reasons for the surge in the recommerce momentum.
-Recommerce platforms are actively offering C2C (consumer-to-consumer) transactions by facilitating authentication of resale products, providing refurbishment facilities, and providing a seamless platform for multi-category shopping.
-Businesses are committing to recommerce objectives to resonate with environmentally conscious consumers.
-There is a need for thrift shopping due to financial constraints caused by the pandemic.
-Authentication, predatory pricing issues, and unintentional environmental concerns are top challenges related to recommerce.

About the Research:

Through this secondary research, “Recommerce is Gaining Big Mo: Is this a Massive Pathway for the Sellers, GoodFirms has attempted to analyze how recommerce is benefiting sellers, buyers, and the planet. The study examines the major trends, key industries leading the recommerce revolution, and challenges related to this new business imperative.

To view the full report, please see:
https://www.goodfirms.co/resources/recommerce-gaining-big-massive-pathway-for-sellers

Contact Goodfirms if you are looking to build your own recommerce platform.

About GoodFirms:

GoodFirms is a well-known name in the IT research and review segment. The review platform of GoodFirms assists businesses with the right insight in determining the best alternative for software and IT service requirements. GoodFirms’ flagship review platform facilitates organizations to identify the latest business and industry trends, capture opportunities, and make informed decisions.

Rachael Ray
GoodFirms
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