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Recurate Releases Consumer Resale Report to Spur Brands Into Meaningful Change
August 17, 2022
2 Min Read
NEW YORK] -- Recurate, the leader in branded resale technology, announces the release of the Recurate Resale Report, the first-ever resale report to provide brands with key tools, information, and insights on how launching a brand-owned resale program can win new fans, inspire brand loyalty, and save the planet.
In partnership with social impact agency BBMG, the report surveys thousands of adults in 11 key markets globally, including a mix of non-active and active recommerce participants to understand their recommerce shopping habits. The survey data that was collected and included in the report debunks outdated resale preconceptions and highlights the benefits of brand-owned resale. Key insights from the report include:
Resale is not niche and is not just for Gen Z
74% of people across all major markets, ages, genders and socioeconomic status shop recommerce
Brand loyalty will increase with brand-owned resale
75% of all recommerce participants said recommerce would increase their brand loyalty and frequency but right now third party marketplaces are their only option
Opportunity to increase customer base and decrease production
85% of people who shop and sell pre-owned would try a new brand if recommerce was offered
Frequent fashion without fast fashion
72% of recommerce shoppers shop at least every 2 - 3 months
Brands aren't doing enough
62% of sellers feel brands could do more to help them participate in recommerce
Customers are demanding brand-owned resale
9/10 people who shop and sell pre-owned want to shop peer-to-peer recommerce directly from the brand
"This consumer report quantifies the tremendous opportunity of brand-owned resale" said Karin Dillie, VP of Partnerships at Recurate. "The numbers are clear - brands who launch in-house resale programs can create substantially more loyal, more frequent customers than brands who don't."
Recurate's Resale Report findings show that as the resale market continues to grow and outpace traditional retail, it is imperative that brands are able to leverage resale as a sustainability initiative and revenue driver. For brands, recommerce is key to unlocking the next chapter of growth, engagement, and loyalty.
The Resale Report is an important component of Recurate's larger mission to empower brands with the support and technology they need to meaningfully participate in the circular economy.
The report is available to download on Recurate.com/resalereport.
About Recurate
Founded in 2020, Recurate, Inc. is a leading circular economy technology company that offers brands an ecommerce solution to capture their secondhand sales. Recurate enables an integrated resale marketplace on brands' ecommerce stores, allowing their customers to resell items they previously purchased from those brands. Recurate works with fashion, outdoor gear, electronics, and equipment brand companies. To learn more about Recurate, please visit: www.recurate.com.
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