Reebonz Holding announces sell back guarantee data
Reebonz Holding announced that the Company's new Sell Back and Sell Back Guarantee services have helped increase lifetime value, ARPU, and total spend of approximately 80% of the buyers who took advantage of these services. Reebonz believes that the positive data speaks to the power of the Company's network effects, and provides proof of concept of the new service. The Sell Back Guarantee is one of the newer and more innovative features that Reebonz has launched as it seeks to address a gap in the market by easing the process of selling pre-owned luxury products. Customers can trade in their products for Reebonz Credits and use the Credits to make other purchases on the platform. The Company believes this service essentially creates a virtuous cycle with network effects within the Reebonz ecosystem. Early data shows that customers who have chosen to take advantage of the Sell Back Guarantee services, have generated approximately SGD$2.00 to $2.50 of GMV for Reebonz for every dollar of credit utilized, inclusive of GMV generated by reselling the pre-owned products the Company receives.