Best Practices As More Retailers Join The Secondhand Space

By Stephanie Sheridan, Michael Allan and Meegan Brooks (October 22, 2021, 6:13 PM EDT) -- One of the biggest developments in retail in recent years has been the proliferation of the secondhand retail market, with both the explosion of online thrift stores that exclusively sell used items, as well as traditional retailers dipping their toes into the secondhand channel.

Below, we summarize the key issues retailers should evaluate before entering into the secondhand space.

Reference Pricing

Secondhand products offer consumers tremendous value, not only because of the steep discounts from what the same items would cost new, but also by appealing to consumers' interest in green practices that promote recycling. While displaying price comparisons for secondhand...

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