Every year, businesses go through a cycle of purchasing, storing, and selling their inventory to customers. In some cases, not all the inventory is sold, leaving a portion of these goods stagnant in stockrooms and warehouses. This unsold inventory takes up space but generates no income for the business.
These items may be excess stocks, aged inventory, and customer returns. They cost businesses not just precious space but also money. In fact, retailers and eCommerce businesses spend up to 60% of an item’s original price when they process a return. Returned items are now a massive problem amounting to USD 1 trillion lost for e-commerce businesses.
There are usually two outcomes for these products: either they end up on the shelves, driving up storage costs, or worse, they end up as waste in landfills. Unfortunately, this is a common and costly occurrence with 8% of global surplus stock and almost USD 163 billion worth of inventory ending up in landfills every year.
Both are far from ideal but efficient, environmentally-friendly, and cost-effective solutions for liquidating excess inventory are very challenging and limited.
This is where Humble Sustainability steps in.
Meet Humble Sustainability
Humble Sustainability is a liquidation company in the Philippines with a purpose. It was established in 2020 out of a desire to create an impactful business model anchored on the circular economy principles and infused with technology and innovation.
The company was founded by CEO Josef Werker and COO Niña Opida, with more than 10 years of combined experience in leadership roles and scaling businesses to create a positive impact.
What began as an initiative helping homeowners declutter their homes strategically evolved into a business model that aims to disrupt asset liquidation with an environmentally-friendly approach. Furthermore, Humble Sustainability approaches asset liquidation with tech-driven and customer-centric solutions.
What does Humble Sustainability do?
Humble Sustainability puts the returned products, excess and aging inventory of businesses in the spotlight, recognizing the potential of these items that would have otherwise been viewed as obsolete. This also includes display items and products with damaged packaging.
Once Humble acquires the inventory of companies, their team sorts the items according to their tiering system: high value items go to Thrift by Humble, an online thrift shop that empowers consumers to shift to sustainable shopping and participate in the circular economy. There are currently three (3) Thrift by Humble stores:
All items sold on Thrift are quality-checked to ensure their authenticity, condition and functionality.
The rest of the items go to Humble’s vast network of B2B buyers and partner resellers, recyclers and upcyclers. These companies have been vetted to ensure that assets are going towards businesses’ who practice sustainability and share the same value for bringing items back to circularity.
Their business model offers a win-win solution: companies get a chance to recover their investments from their unsold inventory, buyers get access to high quality products at a fraction of the price, and our environment receives less damage as these items are diverted from landfills.
To date, Humble has worked with more than 25 companies—SMEs and big corporations alike—and helped them recover up to 5x more value from their returns and excess inventory or learn about the circular economy and sustainable practices. These companies include LOCAD, TCCI (Beauty MNL) Canva, NinjaVan, Union Bank, Huawei, and Entrego, among others.
This young and award-winning circular economy startup has big plans of breaking the cycle of toxic mass production and consumption often present in retail and eCommerce. By building a network of businesses and consumers committed to our transition to the circular economy, Humble Sustainability simultaneously prevents the disposal of perfectly functional items while also curbing the demand for the production of new ones.
At the rate they are going, Humble Sustainability is well on its way of being the country’s leader in sustainability and the circular economy.
Start selling with Humble Sustainability
Humble has partnered with eCommerce stores, logistics providers, brands, malls, retailers, manufacturers, distributors and so much more. They also accept items from a wide range of categories: tech, fashion, home and living, you name it!
If you’re wondering, “Can I liquidate my products to Humble Sustainability?” or perhaps, “How much can my company earn through a partnership with Humble Sustainability?”, then reach out to the Humble Team! You may schedule a call, discuss your inventory and receive an estimate on how much value your business can recover by filling out their contact form or sending a message directly to [email protected].
Make your returns and excess inventory the hero or buy sustainably-sourced items in bulk. Start your business’ sustainable journey with Humble Sustainability today!
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