Cartlow launches new re-commerce platform VASCART
Following the success of its first year in operation, Cartlow has launched its sister company, VASCART, to support and provide vast solutions for retailers as well as distributors, aimed to further enhance the overall conversion rate, boost customer retention, increase basket size, sustain healthy inventory as well as a sustainable practice through its ‘recycling program’.
VASCART, which translates into ‘value added services to your cart’, aims to tackle some key issues faced by many partners in the region to sell their old devices, which will be focused on enhancing the products’ life cycle backed up by automation and a dedicated team of experts.
The company works alongside a series of well-trusted global brands and recognized household names, helping to turn-over their inventory, and reduce unsustainable practices by purchasing slow-moving and returned/pre-owned, or ‘open-box’ products at a low cost from partners who normally toss away items; disrupting a generation of ‘e-waste’.
Mohammed Sleiman, the Founder of Cartlow and now VASCART, stressed on the need for structuring and growing the re-commerce market with liquidation solutions for slow moving, excess, and return inventory goods off the hands of stock dealers. He said, “We are still in the early stages of learning how to bring new value to our customers by introducing re-commerce to the region. Our goal remains in continuing to solidify and extend our brand and customer base, and now we have decided to create more opportunities by launching VASCART for retailers and distributors to benefit from, thereby enhancing their conversion rate and longtime value.”
With an estimated GCC market size of USD 10 billion (AED 37 billion) across all categories, Cartlow has crossed 1 million sold items within its first year of operation, which has helped to reduce a lot of e-waste and contribute to the sustainability of the environment. The world of ‘re-commerce’ is an untapped, unstructured and unmatured industry in the Middle East, which makes it a highly lucrative investment opportunity at this time to pursue.
Cartlow recently closed an AED 7.3 million pre-series A investment round from industry-leading investors, Arzan Ventures, Vision Ventures, and other VCs.