Minding their P’s

• Did you know that majority of people  are more likely to support a brand’s need to be profitable if it also makes a positive impact on the world? That is why purpose-driven companies enjoy a stronger reputation and brand affinity.
• 500-backed recommerce platform Carousell can attest to that, having served countless customers across Southeast Asia over a span of 10 years.
• Why has this Singapore-born company resonated with consumers internationally? “We were looking for a problem — a meaningful problem in our daily lives that we hoped there was a solution for,” shared Co-founder Marcus Tan. That led the team to build a mobile app to make the buying and selling of under-used items simple.
• The company’s mission of reducing waste and promoting sustainability is especially relevant today when people are increasingly more concerned about climate change and want to do their part to protect the environment.
• Marcus added, “We want to inspire more people to adopt this lifestyle because we believe it’s meaningful, and we want to make secondhand the first choice.”
• Over the past decade, Carousell’s users have extended the life cycle of millions of items, including 76.8 million fashion items, 33.9 million electronics, 26.6 million hobby items and toys, and 11.1 million home items and furniture.
• Last year, the team partnered with IKEA to make circularity convenient and accessible to consumers in Singapore. Sellers who bought and sold pre-loved IKEA products or those who engaged in freecycling on the Carousell platform were rewarded with Carousell Protection vouchers and/or IKEA Family points.
• “It’s important to look at the business model standpoint and think about how you can make the product more sustainable or how you can create social impact. The second aspect is tapping on your people—you’d be surprised how passionate people are when it comes to doing good,” Marcus said.
• Read the full story on Forbes.

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