SecondShop Launches Innovative E-Commerce Platform to Help Canadians Combat Rising Cost of Living
With $2MM CAD in seed financing, SecondShop's new re-commerce platform is dedicated to providing high-quality, like-new home goods at significant discounts.
TORONTO, Sept. 16, 2024 /CNW/ - Amid the ongoing affordability crisis, SecondShop today announced the launch of its groundbreaking e-commerce platform, aimed at providing high-quality, like-new home goods at significant discounts. To support this initiative, SecondShop has secured $2MM CAD in seed financing, led by Harvest Venture Partners with participation from leading angel investors in the space.
With the price of goods remaining high and borrowing costs putting pressure on consumers, Canadians are increasingly seeking cost-effective shopping options. SecondShop addresses this need by leveraging reverse logistics to breathe new life into over 45 million annually returned goods, offering essential products at up to 70% off the manufacturer's suggested retail price.
"In a time when the cost of living continues to rise, SecondShop is committed to helping Canadians maintain their standard of living without additional financial strain," says Cedric George, CEO and Founder of SecondShop. "We're not just another discount e-commerce site; we provide a complete solution — from easy online ordering of name-brand products to direct home deliveries — eliminating the need for customers to navigate the often cumbersome process of liquidation auctions and warehouse pickups."
"Our investment in SecondShop is based on our belief that re-commerce represents a new category where vertical integration between software and services is key," said Alex Gold, General Partner at Harvest Venture Partners. "Similar to our work with Neo Financial, OneVest, Walnut Insurance, and other category leaders, we're excited to partner with Cedric George and the SecondShop team to transform this growing space."
SecondShop's innovative approach not only offers financial relief but also provides a more sustainable path forward for consumers. Each year, countless returned products are sent to landfills or incinerated. By diverting these goods to new homes, SecondShop plays a crucial role in reducing waste and promoting sustainability — a factor that over 70% of Canadians cite as a primary purchasing driver.
"We're excited to raise the bar and transform the re-commerce space," George adds. "Our goal is to help Canadians feel good about their purchases — to feel good about their savings and their positive impact on the world. With SecondShop, quality and savings do go hand in hand."
Canadians are invited to discover incredible savings and benefits at: www.secondshop.ca.
About SecondShop
SecondShop is a nationally distributed, Toronto-based online re-commerce platform that offers overstock and open-box home goods directly from retailers and manufacturers at reduced prices, promoting sustainability and accessibility in consumer goods.
MEDIA CONTACT: [email protected]
SOURCE SecondShop
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