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OSU BA 495 - Three Scary Words: “Buy IT Used”

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Three Scary Words: “Buy IT Used”Buying UsedBenefits of Buying UsedProblems with Buying UsedWhere to Buy UsedHow Other Retailers Are AffectedOne Man’s Junk, Is Another Man’s TreasureSources….Three Scary Words: “Buy IT Used”Adrea Cloepfil, Vanessa Shipp, Mike DeanBuying UsedToday more people are buying stuff used than ever before, either out of economic necessity or for environmental reasons. Forty-Billion dollars worth of merchandise, much of it used, was sold via eBay in 2005.……Or maybe just for personal enjoymentBenefits of Buying Used•Save money.•Availability of hard to find products.•Reduction of resources used.•Recycling of products.•Able to search for products from home with certain companies.•Knowledge of working product.Problems with Buying Used•Malfunction of product•Out-dated•No quality control•No middle man•Extra cost•Warranties, returns, etc.Where to Buy UsedInternet ResourceseBayCraigslistFroogleBrick and MortarGoodwillSalvation ArmyHow Other Retailers Are Affected•Company Disadvantages •primary markets cannibalized•sales depressed•prices are being driven down. EXAMPLE: Last year, sixty million dollars in Rolex watches were traded over eBay, and Rolex didn’t get a dime!!On the contrary….•Company Advantages•Consumers more likely to buy high end goods.•Upscale manufacturers building relationship with future customers.One Man’s Junk, Is Another Man’s TreasureMint in a BoxJay Leno Potato ChipSources….Three Scary Words: “Buy it UsedChafkin, Maxwww.inc.com/magazine/20060901/priority-used.html eBay www.ebay.comCraigslist www.craigslist.comFroogle.com


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OSU BA 495 - Three Scary Words: “Buy IT Used”

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