Founded in Toronto, Canada, Frate is a peer-to-peer returns startup that aims to "reinvent returns for the betterment of the planet."
In recent years, a growing demand for e-commerce products has resulted in increased financial losses for retailers, a higher volume of returns and an overall increased impact on our planet. Frate aims to change this by improving traditional returns with a more cost and eco-conscious business approach.
The company helps retailers initiate returns by shipping them directly from one consumer to the next, eliminating the need for shipping to a warehouse or fulfillment center in between transactions. "Rather than the customer shipping back products direct to the retailer, they hold the return at home and the retailer re-lists the item for sale. When that re-listed item is purchased by another customer, the initial customer is able to mail it directly to that person." Consumers are also given access to pre-made shipping labels for added convenience.
Peer-to-Peer Returns Services
Frate Initiates Cost and Eco-Conscious Peer-to-Peer Returns
Trend Themes
1. Peer-to-peer Returns - With a growing demand for e-commerce products, improving traditional returns with a more cost and eco-conscious approach is an opportunity for disruptive innovation.
2. Direct-to-consumer - Eliminating the need for shipping to a warehouse or fulfillment center in between transactions presents an opportunity to disrupt the traditional supply chain model.
3. Sustainable E-commerce - Leveraging peer-to-peer returns to reduce the overall impact of e-commerce on the planet presents an opportunity for sustainability-focused disruptive innovation.
Industry Implications
1. E-commerce - Adapting returns practices to meet the demands of an increasingly e-commerce driven marketplace presents an opportunity for disruptive innovation.
2. Retail - Innovating the returns process presents an opportunity for retailers to create a more cost-effective and sustainable business approach.
3. Shipping and Logistics - Facilitating direct-to-consumer shipping and reducing the need for traditional warehouse and fulfillment center logistics presents an opportunity for disruptive innovation in shipping and logistics.