The sale of pre-owned items isn’t a new concept. But like everything else about commerce, it has evolved to cover different needs, and right now, the ‘recommerce’ market is booming. Consumers are passionate about sustainable commerce, and recommerce offers reduced costs for goods.
Recommerce extends the useful life of products, increasing the number of times an item is purchased and used. Coupled with excellent order tracking, brands can cut down waste, increase revenues and customer LTV (lifetime value).
So how do recommerce and order tracking double customer LTV?
Increasing your purchase and spend rate
Brands can increase LTV by compelling consumers to purchase more, spend more often, and remain loyal. And a huge part of the process is offering options. Recommerce gives customers the option to buy used items, and order tracking ensures customers have peace of mind.
Whether a brand is strictly recommerce or offers both new and used items, customer experience (CX) remains the front-and-center focus. Recommerce and order tracking both enhance CX and customer retention, which can lead to healthier LTV.
What you’ll get from the event
- Discover strategies for doubling customer LTV through recommerce and order tracking.
- See how order tracking can significantly reduce customer support inquiries and costs.
- Uncover how re-commerce drives customers to make more purchases and come back often.
- Learn everything you need to know to offer recommerce.
- LTV is a key metric to eCommerce and re-commerce success because it focuses on long-term value, not just new customer acquisitions and seasonal fluctuations.