LoopDeco, a fledgling startup committed to minimizing furniture waste, is drawing inspiration from the fashion industry as it aims to revolutionize the way furniture is offloaded. By offering discrete liquidation services, LoopDeco assists retailers, particularly those with higher price points, in selling slow-moving inventory without compromising their brand image.
Founder Roman Pennell highlighted the reluctance of certain brands to have their products end up on liquidation websites, a phenomenon prevalent in both the fashion and furniture industries. To address this issue, LoopDeco focuses on recovering revenue in ways that are discreet and untraceable. Rather than publicly listing their goods on secondary channels, retailers have the option to resell in bulk to intermediaries who will subsequently sell individual items on platforms like Facebook Marketplace.
In addition, LoopDeco collaborates with retailers to establish branded removal services. Pennell cited a study revealing that almost half of customers inquire about furniture removal before making a purchase. Furthermore, 61% of retail sales associates reported that sales and deliveries are often delayed until customers find a suitable removal solution. LoopDeco aims to provide retailers with a seamless removal service and has established relationships with nonprofits such as the Dallas Furniture Bank.
Sustainability is a key focus for LoopDeco. The company strives to reuse as much as possible, with 95% of the items they collect being repurposed. Pennell acknowledged the challenge of recycling pieces with diverse components, such as sofas, but expressed a determination to tackle this issue and move toward a circular model. LoopDeco is actively working to ensure that no ingested product, whether from customers or retailers, ends up in landfills.
Although LoopDeco is a relatively new player in the market, Pennell has ambitious plans to expand their presence across Texas, targeting major cities by the end of the summer. While they have engaged with larger retailers on an informal basis, LoopDeco is primarily gaining traction with smaller businesses and prioritizing pilot programs to foster initial partnerships. Once they have established their presence in Texas, the startup has its sights set on major cities across the United States.
Pennell emphasized the importance of refining their product and making logistics and tracking more automated, creating a sustainable and efficient process for retailers to remove items. LoopDeco aims to accomplish their goal of covering all major U.S. cities within the next two to two and a half years. By innovating furniture disposal methods and prioritizing sustainability, LoopDeco is poised to transform the industry and significantly reduce furniture waste.
FAQ Section:
Q: What is LoopDeco?
A: LoopDeco is a startup focused on minimizing furniture waste and revolutionizing the way furniture is offloaded.
Q: How does LoopDeco assist retailers?
A: LoopDeco assists retailers, especially those with higher price points, in selling slow-moving inventory without compromising their brand image by offering discrete liquidation services.
Q: How does LoopDeco address the issue of brands not wanting their products to end up on liquidation websites?
A: Instead of publicly listing their goods on secondary channels, LoopDeco allows retailers to resell in bulk to intermediaries who will subsequently sell individual items on platforms like Facebook Marketplace.
Q: Does LoopDeco offer removal services?
A: Yes, LoopDeco collaborates with retailers to establish branded removal services to cater to customers’ needs. They have relationships with nonprofits such as the Dallas Furniture Bank.
Q: What is LoopDeco’s focus on sustainability?
A: LoopDeco strives to reuse as much as possible and aims to repurpose 95% of the items they collect. They are actively working to ensure that no ingested product ends up in landfills.
Q: What are LoopDeco’s expansion plans?
A: LoopDeco plans to expand its presence across Texas, targeting major cities by the end of the summer. After establishing their presence in Texas, the startup aims to expand to major cities across the United States.
Definitions:
– Liquidation: The process of selling off assets, usually inventory, in order to generate cash.
– Branded removal services: Services provided by LoopDeco in collaboration with retailers to remove furniture items branded with the retailer’s identity.
– Secondary channels: Platforms or channels other than the primary retail channels through which products can be sold.
– Circular model: A model of production and consumption that aims to minimize waste and maximize the use of resources by designing products for durability, repairability, and recycling.
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