Make the most of your past and future possessions and unlock the complete value of your purchases, whether big or small.
This may even affect your next purchase decision, whether it is a home or clothes. How much will you get back if you resell it or trade it in? You may as well factor that value into the cost of ownership.
Although not something new, this concept is increasingly enabled by online platforms and mobile market places, resulting in a fast growing amount of initiatives from established firms and entrepreneurs alike. And we want it, don’t we? It taps into our needs, being consumers, to always have something new, gain status, get things cheap and easy, and be green and ethically responsible.
So opportunities are all around; established businesses (can) use this for their marketing, branding and sales, while entrepreneurs (can) set up or expand their service.
- Trading in to trade up programs from brands in various industries, such as electronics, clothing, sports goods, cars, and charity partnerships.
- Targeted market places, some with the site moderator acting as go-between to appraise and authenticate the goods or even help to give an estimated price for used goods based on market data. Also reselling and buying of services occurs, such as past Groupon-type of deals.