In light of many restrictions changing the way people interact, COVID-19 has all but impacted every industry, even the secondary marketplace and C2C transactions. Traditional methods of marketplace transactions begin on mediums such as eBay, Gumtree, Facebook Marketplace and unique exchange groups. Sellers post items for sale and in certain groups, buyers post willing to purchase posts. Through chat and comment functions, Buyers are matched with Sellers, and a transaction decision is made.
Face-to-face meet ups are an especially popular choice for secondary market transactions, based on a few reasons:
Cost of Delivery - Delivery door-to-door can be expensive and unreliable, especially with items larger than a letter. For sellers that do not have an existing delivery process, the cost and exercise of creating this process can be tedious.
Disclosure of Address - Buyers have felt uneasy about providing their home address to a stranger.
Inspect the Product - For items that have either been used, or purchased in previous, buyers want to confirm the quality of the item with the ability to return the item without cost.
Although despite the benefits of transacting in-person, COVID-19 has created risks to buyers and sellers alike, when coming into face-to-face contact to complete the transaction. The concept of finding an appropriate time to meet-up has always been a challenge for marketplace transactions, and now with social distancing restrictions in place, it is almost near impossible to undertake a face-to-face transaction. This is why companies like Yellowbox have created solutions for sellers and buyers, to transact with all the benefits of an in-person transaction, without the risk of infection.
Yellowbox, which has traditionally been known as an app you can use to hire a smart-locker for short-term storage purposes, has upgraded their technology, allowing users to utilise the conveniently located smart-lockers as a contactless intermediary for marketplace transactions. Sellers can avoid waiting around for the buyer, by booking a Yellowbox within the inner city, opening via the app, and storing the purchased items within. Then by sharing access to the locker, buyers can have the freedom and flexibility to pick-up when it suits them, without any interaction with another person and at no delivery cost.