Online marketplace for used goods
In the Finnish general goods trade, the reliance of the current consumption model on the purchase of new goods is 97 per cent. Consumer-to-consumer (C2C) commerce accounts for only about three per cent of the market. At the same time, Finnish people accumulate more and more products, and the need for storage space increases. Since people seldom engage in C2C commerce, the product life cycles remain short, and the time of ownership lengthens, which increases the consumption of new products.
Solution: a marketplace for used, no-longer needed goods for consumers and companies
Tori.fi offers a user-friendly online platform where people can sell items that they no longer need or buy used items at a lower price than new ones. On the platform, users have access to a wide selection of used items sold by consumers and surplus goods and item removals provided by companies. It is estimated that a total of 140,000 tonnes of CO2 emissions are saved from new products not having to be manufactured as a result of the transactions on Tori.fi. In terms of emissions, the provision is equal to 140,000 intercontinental return flights or stopping the traffic in Helsinki for three months.
Revenue logic and benefits to Tori.fi
Tori.fi’s revenue logic is based on services offered to three customer groups. For consumers, the service uses what is known as a freemium model, which allows the service to be used free of charge. If the consumer wants to, they can buy additional services that make trading easier. For small companies and communities, Tori.fi offers different types of online store concepts, which can serve as the company’s website or as a gateway to a broader media audience. The third customer group is large companies to which Tori.fi sells advertising space.
Benefits to customers and end users
To consumers, the service offers the ability to buy and sell used or as new products. Sellers are able to make a profit and recycle their products using the service. Buyers save money and effort, as they are able to buy used goods through a simple channel. Small companies are able to increase their online presence, while large companies are able to advertise to those Tori.fi users already intending to make a purchase.
Tori.fi in a nutshell
Main business: renting and selling advertising space
Net sales: €1-50 million
Launch of circular economy solution: 2009
Share of the circular economy solution of the total business: 100%