Redefining Fashion's Future: The Role of Tech in Circular Re-commerce

In our second episode, we continued our deep dive into the fascinating realm of re-commerce within the fashion industry - a pivotal driver in championing the circular economy. Our hosts, Barry O'Kane and Emily Swaddle, had the pleasure of chatting with Joe Metcalfe from Thrift+, Jessica Potter from Used and Loved, and Wilson Griffin from Recurate. They shared their experiences about how the re-commerce market is transforming the fashion industry.

 

5 key takeaways from this episode:

 

1. Exploring Various Marketplace Models:

Our conversation traversed various re-commerce marketplace models from managed marketplaces such as Thrift+ to peer-to-peer platforms like Vinted and eBay. For business owners, recognising these diverse models is crucial in determining the approach best suited to your brand's sustainability objectives and target audience.

2. Price and Quality: 

We highlighted the importance of pricing and quality control in building trust in the re-commerce industry. These are essential factors for maintaining consumer confidence and protecting brand reputation.

3. Enhance the Customer Experience:

Providing a seamless customer experience is crucial in a competitive re-commerce landscape. Strategies such as facilitating multi-item purchases, hassle-free returns, and ensuring strong customer service is the only way to ensure circular fashion is competitive with the linear options.

4. AI - The Future of Re-commerce?:

We also explored the potential of AI in personalisation and predictive analytics to transform re-commerce, particularly in areas such as image recognition, pricing optimisation, and customised shopping experiences. The episode provides fascinating insights into how businesses can gain a competitive edge by incorporating AI-powered solutions into their re-commerce strategies.

5. Re-commerce - A Catalyst for Circularity:

Lastly, we talked about the potential of re-commerce as a powerful driver of the circular economy. By extending the life cycle of products and fostering brand loyalty among environmentally conscious consumers, re-commerce is pivotal to sustainable development strategies, offering lasting value for both businesses and our planet.

 

This episode provides a comprehensive look at the current and future state of re-commerce in the fashion industry. It offers valuable insights for those passionate about sustainability and business leaders looking to incorporate sustainable practices. If you missed it, be sure to catch the full conversation to stay informed about the latest trends in circular technology!

 

Discover more:

Listen now to the whole episode.

Read more on our radio site.