Recommerce, also called reverse commerce, is a business model built around selling previously owned, new, or used products, mainly electronic devices or media such as books, through physical or online distribution channels to buyers who repair, reuse, recycle, or resell them. The model gives a used item a second life with a new owner rather than letting it be thrown away.
Facts
Core MechanismRecommerce or reverse commerce, is the selling of previously owned, new or used products, mainly electronic devices or media such as books, through physical or online distribution channels to buyers who repair, if necessary, then reuse, recycle or resell them. 1 Connections
Associated With
eBay, built around individuals reselling used and secondhand goods to other buyers, is widely credited as recommerce pioneering online platform.
Sources
1. Wikipedia, Recommerce
WikipediaOpening definition paragraph
Recommerce or reverse commerce, is the selling of previously owned, new or used products, mainly electronic devices or media such as books, through physical or online distribution channels to buyers who repair, if necessary, then reuse, recycle or resell them.
History of the term section, George F. Colony coinage
In February 2005, George F. Colony, the head of Forrester Research introduced the term recommerce in response to a question about the technology spending trends after the Dot-com bubble
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