Three Scary Words: “Buy IT Used”

1. Three Scary Words: “Buy IT Used” Adrea Cloepfil, Vanessa Shipp, Mike Dean

2. Buying Used Today 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 enjoyment

3. Benefits 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.

4. Problems with Buying Used • Malfunction of product • Out-dated • No quality control • No middle man • Extra cost • Warranties, returns, etc.

5. Where to Buy Used • Internet Resources • eBay • Craigslist • Froogle • Brick and Mortar • Goodwill • Salvation Army

6. How 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.

7. One Man’s Junk, Is Another Man’s Treasure Jay Leno Potato Chip Mint in a Box

8. Sources…. • 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 www.froogle.com