Unlocking Recommerce ♻️

Hey! I’m Maria Azofra, CEO and co-founder of Sharpei. Nice to meet you and welcome to the first edition of Loop Commerce, I hope you enjoy it and join me on this journey toward a more sustainable world.

As your host, let me share a bit about myself: I’m passionate about three things; sustainability (my company is all about making consumption more sustainable), entrepreneurship (I've started six companies), and soccer (I used to play professionally, so you might hear me drop a few soccer references).

You’re here to soak up all the information about sustainability so let’s dive in!

In this first edition, we’re covering 👇

🌱 Recommerce: What is it exactly?
👕 Patagonia's successful recommerce program, Worn & Wear
🌍 Exciting upcoming sustainability events in the US and Europe
💼 Job opportunities in the Sustainability sector

Recommerce refers to the practice of selling and buying used, restored, or refurbished products. This business model gives a second life to products that might otherwise end up in landfills, promoting sustainability and the circular economy. But does it really work?

Absolutely! 📊 Here are some key insights:

• The recommerce market is projected to reach $276 billion by 2028.

• 69% of second-hand items sold last year were everyday essentials in good condition.

• 76% of buyers believe the stigma around second-hand shopping has decreased.

• 85% of buyers bought or sold second-hand items in the past year, with 27% doing so for the first time.

It seems that an increasing number of people are embracing the concept of buying or renting pre-owned items. This trend is expected to grow significantly, positioning recommerce as a major component of business practices.

In Sharpei, we've got a really cool post about recommerce right here.

Of course, you're familiar with Patagonia, the outdoor gear giant and a pioneer in sustainability within the retail industry.

Patagonia launched its groundbreaking recommerce program, Worn Wear, in 2017. 🧥♻️ Since then, Worn Wear has prevented over 120,000 items from ending up in landfills.

How does it work?

• Patagonia's Worn Wear program operates by allowing customers to trade-in their used gear for store credit, promoting sustainable consumer habits and enhancing brand loyalty.
  

• Also, their repair initiative is highly popular, featuring a mobile repair truck that travels across the country, fixing gear on the spot! 🚌🔧 

  In 2021, they successfully repaired over 100,000 garments, showcasing their commitment to extending the lifespan of their products and reducing environmental impact.

And the best part? Worn Wear has shown that sustainability and profitability can go hand-in-hand. Their recommerce program grows by a whopping 40% each year, showing there's a big market for secondhand goods.

By embracing recommerce, Patagonia has set a gold standard for retailers everywhere. Not only do they reduce the impact of waste, but they also build lifelong customer loyalty and even manage to sell the same item a third or fourth time.

Now that’s what I call a recommerce success!

Electronics goes Green: The world's leading conference on electronics & environment. June 18-20, 2024 - Berlin, Germany

Shaping Sustainable Innovation in the Mediterranean: An event that will enhance the vision of a sustainable Mediterranean region. June 18-19, 2024 - Marseille, France

GreenFin: The premier sustainable finance and investing event. June 17-19, 2024 - NYC, USA

Are you passionate about sustainability and looking for your dream job? Here are a couple of exciting options:

• PR Specialist, Sustainability at Amazon.

• Expert in Environmental Management at Repsol.

• Program Manager, Clean Energy at Netflix.

• Senior Manager, Sustainability Reporting at Lego.

This concludes our first edition! Feel free to reply to this email if you'd like to showcase your events to the Loop Commerce community or if you'd like to connect with me directly.

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Until next Tuesday!! 🕺🏽💚