CTT has been expanding its portfolio in the area of Circular Economy, with initiatives such as Eco Reusable packaging, as part of a strategy of considering products and the operating chain itself in order to minimise waste production. At Ciclo CTT, we teamed up with The Loop Company, a leading company in the circular economy sector and a pioneer in offering reconditioned products.
What is it?
Ciclo CTT is a sustainable solution that allows the most committed brands to set up a circular economy operation to collect products that their customers no longer use, recondition them and then resell them. In partnership with The Loop Company, this solution integrates end-2-end software and logistics.
What is the circular economy?
The traditional "life cycle" of products is actually a linear process that begins with the extraction of raw materials, production, sale, use of the product and subsequent rejection, in many cases to be disposed of in a landfill. The Circular Economy aims to emulate natural cycles, in which the end of life involves a regenerative transformation that starts a new cycle.
The provision of a service to sell reconditioned products to retailers is part of this logic. In addition, Ciclo CTT allows them to keep their customers loyal, as they can receive the value as a voucher or discount on new purchases on the website. At the same time, it conveys the company's commitment to sustainability and reducing the ecological footprint of its products, while generating new revenue from a product that has already been previously sold.
There is a growing trend among consumers to buy second-hand goods in various categories. According to the GlobalData 2022 Consumer Resale Survey, around 45% of Generation Z or Millennial e-buyers say they find it easier to buy from retailers who also offer second-hand products. 62% of these same consumers indicated that they look to buy second-hand goods before looking for new ones, and around 46% look to find out what a second-hand product is worth, even when they decide to buy it new.