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Why AptDeco's Business Model is so successful?

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AptDeco’s Company Overview


AptDeco is a revolutionary online marketplace that buys and sells quality pre-owned furniture. Established in 2013, the company aims to simplify and streamline the process of purchasing second-hand furniture, making it as easy and hassle-free as possible. AptDeco offers a comprehensive selection of used furniture, ranging from vintage pieces to modern designs, all rigorously inspected for quality and condition. The company has built its reputation on trust, reliability, and customer satisfaction, offering a secure platform where buyers and sellers can confidently transact. AptDeco operates primarily in the New York City area but has expanded to serve other major cities across the United States. Business Model: AptDeco operates under a consignment business model, acting as an intermediary between buyers and sellers of used furniture. Sellers list their items on the platform, and upon sale, AptDeco takes care of the pickup and delivery to the buyer, providing a seamless and convenient experience for both parties. The company ensures the quality of the items by thoroughly inspecting them before listing. This business model eliminates the traditional hassles associated with buying and selling used furniture, such as unreliable listings, unsafe transactions, and transportation logistics, making the process more efficient and enjoyable for users. Revenue Model: AptDeco's revenue model is primarily based on transaction fees. The company charges a percentage of the sale price once an item is sold. This fee varies depending on the item's selling price, typically ranging from 25% to 38%. By providing additional services such as pickup, delivery, and secure payment processing, AptDeco justifies its fees, ensuring buyers and sellers receive value for their money. The company also generates revenue through promotional listings, where sellers can pay an additional fee to have their items featured prominently on the platform.

https://www.aptdeco.com/

Country: New York

Foundations date: 2013

Type: Private

Sector: Consumer Services

Categories: eCommerce


AptDeco’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: design/aesthetics, provides access

Functional: saves time, simplifies, reduces risk, reduces effort, avoids hassles, quality, variety


AptDeco’s Related Competitors



AptDeco’s Business Operations


Collaborative consumption:

Collaborative Consumption (CC) may be described as a collection of resource circulation systems that allow consumers to both get and supply valued resources or services, either temporarily or permanently, via direct contact with other customers or through the use of a mediator.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Digital:

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

eCommerce:

Electronic commerce, or e-commerce (alternatively spelled eCommerce), is a business model, or a subset of a larger business model, that allows a company or person to do business via an electronic network, usually the internet. As a result, customers gain from increased accessibility and convenience, while the business benefits from integrating sales and distribution with other internal operations. Electronic commerce is prevalent throughout all four main market segments: business to business, business to consumer, consumer to consumer, and consumer to business. Ecommerce may be used to sell almost any goods or service, from books and music to financial services and airline tickets.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

Peer to Peer (P2P):

A peer-to-peer, or P2P, service is a decentralized platform that enables two people to communicate directly, without the need for a third-party intermediary or the usage of a corporation providing a product or service. For example, the buyer and seller do business now via the P2P service. Certain peer-to-peer (P2P) services do not include economic transactions such as buying and selling but instead connect people to collaborate on projects, exchange information, and communicate without the need for an intermediary. The organizing business provides a point of contact for these people, often an online database and communication service. The renting of personal goods, the supply of particular products or services, or the exchange of knowledge and experiences are all examples of transactions.

Transaction facilitator:

The business acts as an acquirer, processing payments on behalf of online merchants, auction sites, and other commercial users for a fee. This encompasses all elements of purchasing, selling, and exchanging currencies at current or predetermined exchange rates. By far the biggest market in the world in terms of trade volume. The largest multinational banks are the leading players in this industry. Around the globe, financial hubs serve as anchors for trade between a diverse range of various kinds of buyers and sellers 24 hours a day, save on weekends.

Two-sided market:

Two-sided marketplaces, also called two-sided networks, are commercial platforms featuring two different user groups that mutually profit from the web. A multi-sided platform is an organization that generates value mainly via the facilitation of direct contacts between two (or more) distinct kinds of connected consumers (MSP). A two-sided market enables interactions between many interdependent consumer groups. The platform's value grows as more groups or individual members of each group use it. For example, eBay is a marketplace that links buyers and sellers. Google connects advertising and searchers. Social media platforms such as Twitter and Facebook are also bidirectional, linking consumers and marketers.

User design:

A client is both the manufacturer and the consumer in user manufacturing. For instance, an online platform could offer the client the tools required to create and market the product, such as product design software, manufacturing services, or an online store to sell the goods. In addition, numerous software solutions enable users to create and customize their products to respond to changing consumer requirements seamlessly.

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