From retail-as-a-service to authentication to managed marketplaces, companies in the retail industry are making the process of giving old items new life more seamless and efficient.
Consumer demand for more sustainable and affordable products is driving the shift to a more circular economy.
One of the main pillars of this is recommerce, or giving old items new life instead of discarding them. Retailers from Nordstrom to Best Buy to Ikea are launching their own recommerce shopping experiences online and in-store. These brands incentivize customers to return their pre-loved items through store credit, and either sell them again or recycle the material.
Want the full expert post? Become a CB Insights customer.
If you’re already a customer, log in here.