Recently, I talked with the CEO and founder of reBuy about the shifting dynamics in the retail sector as a result of digitalization. The use of data has evolved to the point where data has become the enterprise’s most critical business asset in the age of the customer. The business model of reBuy reCommerce — the leading German marketplace for secondhand goods — can help CIOs understand how the intelligent use of data can significantly disrupt a market such as retail.
The case of reBuy offers interesting insights into how the wider trends of the sharing and collaborative economy affect retail. If you can buy a good-quality used product with a guarantee for half the price, many people will not buy the product new. Many consumers increasingly accept product reuse and see it as an opportunity to obtain cheaper products and reduce their environmental footprint by avoiding the production of items that wouldn’t be used efficiently. The reBuy case study highlights that:
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