Updated: Mar 23, 2020
Probably your customers and others are earning revenue by selling your second-hand products. The sales of second-hand products, especially those that had a very short use, are gaining a very high expression, with companies exclusively dedicated to this market.
There is an old saying that goes something like this: "one person’s waste is another person’s treasure". In fact, there are many people and companies that already realized that and are generating revenue, taking advantage of this reality. Second-hand products have been around for many years. However, in the past, this solution was seen as unworthy and, usually, only people with a low income would buy these kinds of products. Currently, this alternative has become a common option and it is a solution sought by all types of people, regardless of their income. And if you have not yet developed an offer for this audience, probably someone has already done it for you, with your own products!
The channels where this type of sales take place are of the most varied types: online, social networks, specialized markets, stores, etc. However, some companies already offer this solution as an alternative and sometimes even offer differentiating advantages such as warranty or after-sales services as well as maintenance solutions.
The introduction of this model can be an interesting source of revenue for your business. Nevertheless, if you are afraid that this solution will compete with your current offer, you can always evaluate the possibility of creating a new brand specifically targeted for this purpose. In addition, this possibility can easily be made available only online, which reduces the associated operating costs.
Some companies also offer this solution as an alternative, offering advantages such as warranty or after-sales services.
These types of solutions can save products in good condition from being discarded unnecessarily, recovering their value and giving them a new “life”.
There are some points that should be considered before introducing this kind of offer: firstly, transparency: if the product is second-handed, this must be clear to the potential buyer. The potential buyer has the right to know the exact conditions of the product. If you want to differentiate from the competition or substitute offers you must add some value to your offer such as warranty, after-sales services, maintenance solutions, the possibility of exchange, etc. It is also important not to “mix” new products with used products, whether online or in-person, in order to avoid confusion or misunderstandings.
You must ensure that your solution adds value to the product when compared to other second-hand alternatives
Do a brief search and try to find out if your products have already been sold online, in which channels and in what conditions. Evaluate the obtained results and ask yourself the following additional questions:
🍀When the customer no longer needs or uses your products, what happens then?
🍀Is there a second-hand market for the products you sell? Does this market have any expression?
🍀If you offered this alternative, would there be customers who would stop buying your new products? Or, are there customers that already put this possibility as a first option?
🍀What advantages can I offer that other second-hand alternatives do not?
As with any of the suggestions presented here, before proceeding, you must carefully evaluate the feasibility of this possibility and the positive and negative impacts that it can generate for your business and its surroundings.
Author: Mariana Pinto e Costa (BeeCircular's Co-founder )
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