An online service that makes selling and buying used goods easier

Founded by two Finns, Swap.com offers an easy way to sell and buy pre-owned goods online. The user experience and quality of the online store are of the same standard as stores selling new products. The efficient handling process and marketplace enable people to recycle products effectively instead of throwing them away.

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Problem

An efficient and economically attractive way to sell and buy pre-owned goods has been lacking until now. For example, in the USA around 85 per cent of clothes end up being discarded as waste.

Solution: an online service that makes selling and buying used goods easier

The service offers users an experience that rivals that of many stores that only sell new products. The seller packs the goods and sends them to the website operator for sale. The goods are photographed by Swap.com and added online in a highly efficient handling process. Swap.com has around two million listings on average, which makes it the largest online consignment store in the USA and possibly worldwide.

Revenue logic and benefits to Swap.com

Each sale transaction is subject to a service charge (30% + $1.50). The handling and logistics costs are charged retrospectively from the sale revenues. The service is highly attractive to both buyers and sellers, which means excellent growth and market leadership potential for the company. The US-based Internet Retailer publication featured Swap.com on its 2017 HOT 100 list in December 2016.

Benefits to customers

The online store offers affordable prices that can be between 50 and 90% cheaper than retail stores. The service makes the selling of pre-owned goods much easier than before. The extra income can greatly enhance the quality of life for many people.

Facts

Swap.com in brief

Main business: online second-hand retail

Established: 2012

Employees: more than 250

Headquarters: Helsinki

Website: https://www.swap.com/

Project

The most interesting companies in the circular economy in Finland

The most interesting companies in the circular economy is a list compiled by Sitra to showcase Finland’s most inspiring examples of the circular economy. Sitra is using the list as a way to challenge Finnish companies to meet the changing needs of the world.

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