Millennials to boomers have something to bond over — a Craigslist memory? While Craigslist's retro simplicity
may appeal to diehard fans, secondhand sellers have been flocking to newer tech.
Yesterday a new reseller product launched called Backflip
with a model driven by simplicity. Maker Adam Foosaner explained:“My co-founder and I stumbled on the idea behind Backflip when moving between apartments… We should be able to sell [our electronics] in a matter of minutes by just taking a picture on our phones.”
Users go to the Blackflip website, select their device, and get a quote. The physical transaction is done for free with The UPS Store – no box or shipping label required. Drop it off or schedule a pickup and your payment is guaranteed by Backflip.“I finally have a chance to clean out my electronics drawer. Love it!”
- Hunter Hodnett noted.
Backflip’s approach might appeal to sellers who just want to get rid of some stuff quickly. Other players in this space have stretched across channels. Poshmark
, which went public in January, created a whole fashionista social community around reselling. StockX
are working to ride trends in alternative investments
as part of their resale model.
StockX is a shining example of the growth in the reseller space. It had a record year of revenue and just closed a funding round resulting in a $3.8 billion valuation. Beyond bidding and selling, StockX delivers users a host of data like historical sales and authenticates the sneakers too. Ebay announced their own authentication program to play catch up in October.
Besides the pandemic and eCommerce growth, another reason for the resale boom is interest in sustainability. The demand is so strong that brands like Gucci are playing with their own resale models.
If you’re in the market for sustainable threads but are looking for something new, you can check out recently launched Good Garms
instead. Otherwise, it might be time to…