Up-cycling: Is it time for the retail sector to change tack?
We are now well into Autumn. The weather is turning and, dare I say it, the mind starts to drift towards Christmas shopping. This year my son has asked for what is effectively a £70 lump of plastic. So I have been scouring Vinted, E-bay and Facebook Marketplace looking for a pre-loved version with a much more reasonable price tag. But there is always the concern with buying second hand online about what condition the product will turn up in and speaking with friends and family, this often puts people off the pre-loved market.
With a few exceptions, the current second hand market feels a bit pot-luck. You either go to a charity shop, but if you are after a specific item it is unlikely they will have it. Or you purchase from a private individual, with no guarantee about the condition or quality of the item.
The dilemma got me thinking, is there an opportunity for more retailers to expand into the realm of re-using, repairing and up-cycling to create a truly circular economy? To provide consumers with a second hand market that comes with some form of guarantee? And could this be profitable? Apparently so, as reported by Retail Gazette, Currys has been running a profitable repair business since long before sustainability became a buzz word. And with environmental concerns remaining a hot topic, it couldn’t be bad for a business’ reputation either.
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https://www.retailgazette.co.uk/blog/2023/10/currys-repair-shop/