Amazon Inc. announced a rebrand for its online resale marketplaces. The move is designed to make it easier for purchasers to find discounted items from top brands.
Amazon Resale, previously called Amazon Warehouse, continues to supply a big range of used, pre-owned and open-box products. These options cater to a growing demand for inexpensive alternatives.
“Customers turn to Amazon for value and low prices, which is why we’re consistently innovating to seek out recent ways to supply products at a wide range of price points,” the corporate wrote in a corporate blog post announcing the name change. “That’s where Amazon Resale is available in.”
The rebrand highlights the ecommerce giant’s strategic give attention to the growing resale market. Amazon ranks first in Digital Commerce 360’s Top 1000 Database. The database ranks the biggest online retailers in North America by annual web sales. Moreover, Amazon holds the third spot within the Global Online Marketplaces Database. That database tracks the highest 100 global marketplaces by 2023 third-party gross merchandise value (GMV).
Amazon Resale savings in 2023
In 2023, Amazon reported that customers saved a median of over 25% on purchases made through Amazon Resale.
The rebranding goals to raised reflect the web marketplace’s offerings, in keeping with Amazon spokesperson Callie Galván.
“We’re consistently working backwards from the client to enhance the shopping experience,” Galván shared in an email to Digital Commerce 360.
While Galván didn’t reveal the top-performing categories on Amazon Resale, she mentioned that tech gadgets, home furniture, kitchen appliances, tools and pet supplies are amongst the favored items.
Tips on how to shop Amazon Resale
Customers can explore Amazon Resale through two foremost options. By visiting the dedicated homepage, they will flick through categories or seek for specific products. Alternatively, when viewing a product page, users can scroll all the way down to the “Save with Used” or “Buy Used” sections, where they’ll find Resale options complete with condition descriptions and pricing.
Before any item is listed on Amazon Resale, it undergoes a “thorough inspection,” in keeping with the corporate. For electronics, the method includes powering on, testing, and factory resetting the device. Products are then categorized as “Like Recent,” “Very Good,” “Good” or “Acceptable.” All purchases are covered by Amazon’s return policy.
“Since each item at Amazon Resale is exclusive resulting from its nature, we’re unable to exchange an item with its very same condition, but we could have something similar in stock,” the corporate noted.
Beyond savings, Amazon stressed that Resale supports the circular economy by extending the lifetime of used products. The corporate said it’s committed to giving returned items a second probability through resale and other channels like repairs or donations. In 2023, Amazon reported that the corporate, together with independent sellers, donated over 160 million products worldwide.
Returns remain a serious hurdle
Returns proceed to be a challenge for ecommerce retailers. While customers now expect easy return processes, the convenience contributes to increased landfill waste and emissions.
In keeping with a report by the National Retail Federation and Appriss Retail, the retail industry faced $743 billion in merchandise returns in 2023, representing 14.5% of total sales. For each $1 billion in sales, retailers incurred a median of $145 million in returns.
Online sales saw even higher return rates, with around 17.6% or $247 billion of merchandise purchased online being returned last 12 months, in comparison with about 10% for brick-and-mortar stores. Optoro, an organization specializing in returns logistics, estimated in 2022 that ecommerce returns generated as much as 24 million metric tons of CO2 emissions a 12 months.
In response, major retailers are increasingly embracing recommerce, or reverse commerce. Walmart, as an example, introduced the Walmart Restored program in 2022, making it easier for purchasers to seek out refurbished items from brands like Samsung and KitchenAid on Walmart.com. Best Buy also offers a nationwide recycling program for old tech and sells refurbished electronics each online and in stores, while eBay has a dedicated section for refurbished electronics.
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