The Resale Market Boom – How to guarantee the best experience to your customers and sellers?
If you don’t wear it, sell it.
If you don’t use it, sell it.
We’ve almost all already heard these sentences, and here comes the ‘resale’ business in play. This business model has been in trend and has experienced a massive growth these last few years for many different reasons, including sustainability drivers, as well as affordability but also because of the modernization of the concept thanks to innovative industry players. Those players have taken the concept into their own hands and have twisted the general belief that second-hand products are ‘used’ or ‘old’ to being ‘sexy’, ‘edgy’, ‘trendy’, ‘cool (y)’…
See below an ad by one of the players:
What are the sub-industries of the ‘Recommerce tech’ market?
As the recommerce market developed, so did the emergence of varied services in the industry.
From fashion to electronics, CB insights data identified more than 100+ companies developing recommerce tech:
As can be observed in this figure, there are many categories that make up recommerce industry, some of which include:
- RaaS solutions (Retail-as-a-service): helps retailers buy secondhand items from customers and hold inventory for resale. Some also offer reserve logistics or fulfilment services. Vendors in this space typically offer specialized solutions for luxury goods, home or furniture products, and fashion items but it can also vary in hardware products or even vehicles.
Customers can easily resell items they purchased from an online store and receive cash or store credit in exchange thanks to RaaS platforms like The Archivist, Recurate or Treet.
- Brand-enabled rental: this category includes startups that offer software solution enabling fashion brands to launch and operate rental businesses. For example, Lizee a French-based company allows brands to enter the circular economy by renting or reselling their inventory.
- Peer-to-peer platforms: Companies in this category give users a platform to sell directly to other consumers.
How The Nest by Webhelp supported a classified ads leader to moderate its content and ads
Company & Challenge
The Nest by Webhelp is currently supporting many players in this industry such as a classified ads website that acts like a digital flea market, founded in France.
The company was facing many scammers on its platform and required The Nest’s support to secure its platform for users. As such, The Nest implemented a content moderation tool which gathered all the features content moderators need to check to ensure quality but also efficiency.
As such, the tool could check the picture using an AI, to identify non-compliant content in image, to display the user’s history allows content moderators to quickly identify risky users, to analyze texts by highlighting forbidden words, scams and phone numbers, and so much more.
As a result, the company was able to significantly decrease the error rate, to improve accuracy and precision, and overall to secure the customer experience of all platform users.
Although the resale market looks simple enough, many issues arise, especially when it comes to assuring the authenticity of products. How to easily identify the authenticity of so many ads being shared on a platform? How to check all the documents of a product in no time to avoid counterfeits?
How does The Nest by Webhelp accompany resale market players throughout the entire customer journey?
See how The Nest can tackle every challenge at every step of the customer journey, no matter the industry, no matter the resale business model.
Focus on Trust & Safety – At the core of resale platforms operations
Since end-consumers are put at the center of resale operations, many challenges arise no matter the type of a resale business.
How to manage content at each step of markeplaces’ customer journey? How to fight against counterfeiting? How to secure every transaction? How to avoid fraud, illegal items, poor image quality, duplicate ads and so much more?
On a platform where users are both sellers and buyers, scammers can easily ‘hack the system’ in many different and innovative ways, some of which include:
Let’s take an example of a secondhand marketplace, what are the steps buyers and sellers go through and how can The Nest ensure a smooth experience for both?
No matter your industry or type of business, we want to insure the best possible experience for all your users, while protecting them from scams or other.
From consistency checks to content or community management, or from data annotation to digital activations, we can support you thanks to our deep industry knowledge, expertise, latest tech tools and a personal dedication towards sustainable players.