(We originally posted this on March 12, 2020. You can read more of our original ideas in our archive.)
Problem: Last year, customers in the U.S. returned about $351 billion worth of items that they had purchased from brick-and-mortar retailers and online stores, according to CNBC. Many of these goods cannot be resold.
Solution: B2B company that accepts returns on behalf of retailers and resells these goods to a dedicated subscriber/customer base at a discount or to the general public at a slight price cut . One great example of a company which does this is Resku, which refurbishes and sells Nike shoes. Another example of a company with this model is B-Stock, a “marketplace platform [that] sets up an online auction dynamic where you [businesses] can sell returned, excess, or other liquidation inventory directly to a diverse base of approved business buyers.” Specializing in product returns and re-selling would piggyback on the thrift store craze which has yet to have a clear winner in the digital space.
Monetization: Commissions per item sold and/or subscription fees.
Contributed by: Billion Dollar Startup Ideas