Future of Re-Commerce Market: In Tech Industry 2021

 All of us are aware of E-commerce but the majority of people are unaware of the term Re-commerce. It's not something new you may not be aware of but undoubtedly took the benefit of what it entails. Let me clarify it for you. Have you ever in your life bought second-hand products? If your answer is yes, then you did contribute your fair share to the Re-commerce industry. Especially, when it comes down to the tech re-commerce market it is a vast million dollar industry with great customer response and the final revenue is surprisingly impressive. There are many aspects of Re-commerce that I would love to share with you. In these few minutes journey, you will gain a considerable amount of knowledge about Re-commerce. Read till the end to find out how it is beneficial for both the consumer and the seller?

What is Re-commerce?

Reselling pre-owned goods comes under Re-commerce. In the past, we used to buy second-hand cars, laptops, and other stuff to save the insane amount of money that we have to spend on a brand new one. But since the online platform became popular among the customers. People started buying their favorite expensive smartphones and laptops from the reseller who fixes used phones and makes them good as new and then sells them to the next buyer.

What Made Re-Commerce Popular?

There are only two reasons that the Re-commerce industry became popular amongst consumers. One of them is that they offer the best and cheap price because they are selling pre-owned goods. But everyone today is truly concerned about our environment and they don't want to harm it any more. They know if they buy pre-owned laptops, smartphones, etc. It will in return make companies stop utilizing the natural resources on a large scale which will save the environment.

Why Re-Commerce is Beneficial?

1. Accessible for Regular People:- Not all of us are born rich. If you belong to a middle-class family? No matter how good your income is, a lot of it goes into providing for your family and fulfilling your everyday necessity. You can barely save money for your future. Buying an expensive smartphone is totally out of the question. Apple iPhone's are all the hype these days and everyone wants to get their hands on it but due to high prices, it is not available for everyone. But if you are buying a Refurbished iPhone it will cost you at least 50 to 70% less than the actual MRP printed on the box. Always buying a brand new phone is not the answer, sometimes you are better off with a used or refurbished phone.

2. Save the Energy Wastage:- Instead of choosing a brand new phone. If many consumers decide to buy a pre-owned smartphone or a refurbished smartphone? You are not only saving money but also the environment. Some people change their phone within the first 8 to 9 months and go ahead to buy a new model. It increases the demand for new phones and companies produce them on large scale to fulfill customer demand meanwhile using and abusing natural resources and power to manufacture the smartphone. So instead of buying a new one to go with the used or refurbished phone, it will decrease the new phone demand, and companies produce limited phones.

3. Consumers Being  Considerate About What They Should Purchase:- Some people might be thinking that other individuals will only choose inexpensive brand phones which are going to cost them even less. You are wrong over here, if someone is going with a refurbished or used phone they won't go with the cheapest brand. They will try to get their hands on something unaffordable for them on normal days but now they can buy it due to the new price tag. So later even when they decide to resell they can secure a good deal on it. Because it is all about brands and what brings you extra capital.

4. People Start Becoming  Responsible:- Many of us buy a phone and think that we get tired of it. We sell it for a good price. Now if one wants a good return on their pre-owned goods they have to start being responsible from the start taking good care of a phone and be careful and use their phones sensibly so their phone doesn't get damaged. Damaged goods decrease the value while reselling so in a way the re-commerce industry propelled us to start being responsible.

5. Benefits of Re-Commerce for Both Consumer and Seller:- You might be thinking if the Re-commerce market continues to rise it will impact the retailer business they may have to close their stores in the future. This fact doesn't hold any truth, Do you want to know why that is? For one, Re-commerce is not only for the resellers. If the used and refurbished phones are in demand then the retailers can also start meeting their customer's demand and start sell used phones for cash and also refurbished smartphones.

 Their business will reach heights once they enter the Re-commerce world. Of, course it will be good news for the customers since they don't have to search for places to buy refurbished and used phones. When their local trusted retailers are selling the phones. It will build a new trust foundation between the customer and the seller. Because customers are less likely to trust online sellers but if you already know the reseller you can take up your issues with them and they won't scam you into buying faulty smartphones.

Final Verdict:- Re-commerce is on top right now and always will be and there are lots of corporations who are stepping their foot into the reselling market to acquire great revenue. The future of Re-commerce smartphones never looked brighter than it is right now in the present. Companies are sell old phones and making a good profit out of it, not only that they are also helping in saving the environment. So we must start showing our support to the Re-commerce industry and buy used and refurbished phones at least once in our life.