In the last 4 years, I bought my fridge, phone, computer, washing machine, and coffee machine from one retailer (not Amazon). I bought them all on Back Market. Back Market announced yesterday a $335M fundraising for its refurbished device marketplace, valued at $3.2B. Let's consider for 2 seconds how crazy these numbers are : - a 510 employee retailer, - selling low-margin products (Electronics and Appliances), - refurbished and sold at discounted price --> is valued at $3.2B !!! For comparison, Dixons Carphone's valuation is $3.8B with 36k employees. Is there a bubble? Maybe..., maybe not. But if you are a retailer operating in electronics & appliances, having a consistent refurbished assortment should be a top priority. If you don't, this is terrible news: you are currently losing price-sensitive and/or environmentally-conscious customers. The good news is that Mirakl can help you address this, helping you to launch your proprietary refurbished marketplace in a few months. Feel free to DM me if interested
Does Back Market run on Mirakl?
Great insights JM. Although I cannot believe your coffee machine is not brand new. Along with your cheese, your café is sacrosanct non? ;)
Sales Director ⚡️ Empowering B2B companies to innovate and to transform thanks to Digital Twins
2ywell done Jean-Marie to buy second hand products. It will become more and more an alternative to brand new products to save money and be more sustainable.