A digitally native handbag reseller is enabling customers to buy and sell items in a single, combined transaction.
Rebag is launching Clair Trade, an extension of Clair, the company’s artificial intelligence (AI)-powered instant pricing engine. Instead of experiencing two siloed buying or selling flows, shoppers can now instantly receive an offer for their luxury items, put the value towards a new purchase, and then checkout and only pay the difference that their sold items do not cover - all in one transaction.
The proceeds from the sale are instantly netted from the cart value. In certain states, trade-in values may be tax free, generating tax savings on the overall transaction. The service is available for online purchases and in Rebag stores nationwide.
Customers who choose to shop in-person at a Rebag store are able to complete the entire process immediately. Shoppers who use the online service will checkout for the combined trade. The seller will then ship items to Rebag using a free shipping label, or drop the items at a Rebag store location. Once the items have been reviewed, the trade-in will be confirmed or possibly edited, and the purchased items shipped at that time.
Clair Trade is the latest addition to the Clair by Rebag technology suite. Clair AI, a proprietary software tool backed by seven years of data and millions of image references, instantly determines the resale value of more than 15,000 styles.
[Read more: Rebag opens up pricing with image recognition]
For a limited time only, Rebag will offer a 25% trade-in incentive, allowing consumers to earn 25% more when they opt for trade-in compared to a stand-alone cash payout.
“Clair Trade brings together our seven years of expertise as a leading luxury resale destination,” said Charles Gorra, founder and CEO of Rebag. “It combines the immediacy of our pricing technology and our AI-recognition capabilities to create a unique and transformative resale experience. For the first time in the resale industry, consumers will be able to generate a quote and immediately use it towards another purchase, while only paying the difference. The more you sell, the more you decrease the cart value and can shop guilt-free. With Clair Trade, Rebag is essentially pioneering negative checkout.