- Sustainability problem (Waste/Energy/Water): The consumption of clothing in the world has increased tremendously in the last few decades. With fast fashion trending globally, clothing production relies heavily on non-renewable energy sources and water to keep up with consumer demand. Finding ways to reuse clothing is extremely important as we search ways to reduce the effects of consumerism on our planet.
- In 2018 clothing accounted for about 6% of municipal solid waste in the U.S.A. and has tripled since the 90’s
- Textile production is estimated to release 1.2 billion tonnes of greenhouse gases into the atmosphere every year
- The fashion industry is responsible for 20% of global waste water
2. Technology Summary: Recurate | Resell function for fashion brands
- Second hand shopping is a trending market with resell platforms such as Poshmark and ThredUp helping consumer resell their clothing to people through an app. It is expected that the value for second hand clothing will more than triple in the next decade.
- Consumers are becoming more self-aware of the brands they are buying from and are looking for alternative ways of shopping their favorite brands.
- Recurate looks to connect with fashion companies directly to resell their brands via their current websites. Individual sellers will use the companies website to resell the brand directly to consumers making it easier for the company, buyers, and sellers.
- Recurate oversees the shipment and processing; then the fashion company will compensate the seller either with a store credit or cash.
3) Organizational Stakeholders
Stakeholders in Recurate include fashion brands, consumers, and sellers. Fashion brands will utilize the platform to manage the resell of their clothing by using Recurate. They will also be able to gather data on resell and learn more about their customers. Consumers will use Recurate to more easily shop the brands they like in the resell market; they’ll be able to shop more strategically and conscientiously. Sellers will be able to use Recurate to market their resell product directly through the brands site which will likely drive sales and make it much easier for the average person to resell their clothes.
- Build partnerships with brands. The portfolio of brands available through Recurate needs to be wide and include all types of style, prices, and target audience.
- Trial the platform with resellers/buyers. There needs to be input by buyers to ensure that it is customer friendly and intuitive. In addition, you want to make sure that people will actually use this function and not just continue to use their individual resell platforms. Survey and focus groups are a good way to start building feedback to improve Recurate.
- Expand operations. If Recurate is looking to have a large brand base, it needs to have the capacity to deliver on its promises of customer service, delivery, and platform maintenance.