trendwatching.com (@trendwatching) says the consumer arena has moved beyond the ‘old’ model of consumption (brands produce, consumers buy). “Now, here’s yet another twist on consumers making the most of their assets and possessions: RECOMMERCE.”
It’s never been easier for consumers to unlock the value in past purchases. Novel brand buy-backs, exchange schemes, online platforms, and mobile marketplaces offer smart and convenient options for consumers keen to ‘trade in to trade up,’ alleviate financial strains, and/or quell environmental and ethical concerns.
RECOMMERCE is now increasingly affecting even consumers’ initial purchase decisions. Just as they do when buying a car or a home, consumers are factoring an item's resale value into the cost of ownership for an ever-wider range of purchases.
3 drivers behind the RECOMMERCE phenomenon:
1. NEXTISM: Consumers will forever crave the new and exciting experiences promised by the ‘next’.
2. STATUSPHERE: The growing status boost that comes from being savvy and shopping (environmentally) responsibly.
3. EXCUSUMPTION: Cash-strapped consumers embracing creative solutions.
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