Product Overview of Reflaunt
Reflaunt is a pioneering technology company specializing in Resale-as-a-Service solutions for the fashion industry. Founded in 2018, Reflaunt is designed to help fashion brands and retailers integrate resale capabilities seamlessly into their existing ecommerce platforms, promoting a more circular and sustainable approach to fashion.
Key Features and Functionality
Resale Ecommerce Integration
Reflaunt equips brands and retailers with tailored branded marketplace technology and operations solutions. This integration allows customers to resell or recycle their past purchases directly on the brand’s ecommerce platform, enhancing the customer experience and encouraging more thoughtful consumption habits.
Simplified Listing Process
Reflaunt simplifies the resale listing process by sourcing product descriptions from the brand’s database, making it a seamless journey for customers to create product listings in just a few clicks. This is facilitated by Reflaunt’s collective brand database and proprietary pricing algorithm, which ensure optimal pricing and highest possible payouts.
Multiple Resale Services
- Concierge Resale Service: Where Reflaunt purchases luxury items from users.
- Take-Back Program: A digital inventory system designed for resellers and second-hand markets, allowing customers to send in items from any brand for repurposing.
- Reflaunt Distribution Network: A modular website for companies and resellers to enter the ecommerce landscape.
Payment and Incentive Options
Customers have the option to be paid in cash or receive a higher return in the form of store credits. Notably, 45% of clients choose brand vouchers over cash payments, which enhances customer loyalty and encourages further purchases.
Global Marketplace Access
Reflaunt provides access to its extensive global network of over 27 resale marketplaces and more than 50 million second-hand customers. This network ensures that over 50% of the pieces are sold within a month, with an average of 2.5 items listed per customer.
Product Tracing and Authentication
Reflaunt’s integration allows brands and customers to trace purchase data and transaction history, enhancing the security and authenticity of second-hand purchases. This reduces the likelihood of counterfeit items and provides clear visibility over the product’s entire lifetime.
Branded Recommerce Platforms
Reflaunt helps brands launch branded resale platforms that reflect their online shopping experience. These platforms are designed to engage new audiences, diversify product assortments, and include inventory from the brand’s archive or unsold pieces, as well as curated selections from Reflaunt partners.
Benefits
- Ease of Use: Simplified listing process and instant valuation powered by data analytics.
- Increased Customer Loyalty: Higher returns in store credits incentivize customers to resell through the brand.
- Sustainability: Encourages circular fashion by extending the life of garments and promoting more thoughtful consumption habits.
- Authenticity and Security: Enhanced product tracing and authentication reduce the risk of counterfeit items.
- Global Reach: Access to a vast network of resale marketplaces and customers.
By leveraging Reflaunt’s Resale-as-a-Service technology, fashion brands can unlock significant value for both their customers and their business, while contributing to a more sustainable fashion industry.