ReNew: The Future of Second-Hand Marketplace

"ReNew ile Yeniden Keşfet." – ReNew. ReLove. Rediscover.

Cem Sumengen

Sept. 19th, 2025


AI-Powered, Trusted, Category-Focused Platform - Presentation fully coded by AI.

📋 Agenda

  • Problem Statement
  • Turkey E-Commerce Market Overview (2024)
  • Competitive Benchmark
  • Market Gaps & Opportunities Analysis
  • Unique Value Propositions
  • Category-Focused Business Models
  • Core Growth Strategy: Niche Down to Scale Up
  • North Star Metrics & Growth Targets
  • Team Structure & Hiring Plan

⚠️ Problem Statement

You are the Senior Product Leader at a newly established startup in Turkey. Your company operates a second-hand marketplace application, similar to Letgo, Dolap, or Gardrops, but it hasn't yet secured a significant market share. Investors have recognized the growth potential, but the dominance of competitors Hepsiburada's second-hand sections, Trendyol's second-hand sections, and Letgo's entrenched user habits) poses significant challenges.

Your Task for Investors: "ReNew" Product Strategy & Growth Approach

You are expected to design a comprehensive product strategy and growth approach that will position the brand "ReNew" meaningfully in the market within one year.

This strategy should clearly articulate how "ReNew" will differentiate itself in the crowded second-hand market and how it will attract both buyers and sellers. It's crucial to detail your approaches for gaining rapid market traction while focusing on a user-centric experience and ensuring sustainable growth.

In your presentation, outline priority initiatives and expected outcomes for the initial 3 months and the full 12-month period. Additionally, you are expected to address how you will measure success and manage technical constraints. You should also include your approach to fostering a culture of rapid experimentation and iteration, along with your proposed team structure to support this process.

📈 Turkey E-Commerce Market Overview (2024)

Market Size

$89.5B

CAGR (5 years)

30.2%

Retail Market Size

$48.3B

Retail Transaction Growth

10.1%

E-Commerce Share In Total Retail

19.1%

E-commerce Category Breakdown

Food 21.64%
Clothing, Shoes, Accessories 15.64%
Air transportation 14.94%
Travel, transportation, storage 12.93%
Electronics 12.24%
Home, Garden, Furniture 11.12%

Payment Methods

Card 66%
Money transfer 26%
Cash on delivery 3%
Other 5%

C2C Market

C2C Market Size

$290M

(Adding refurbished / outlet / slightly defective but new segments estimate ~$600M)

C2C Transactions

17.5M

C2C Category Breakdown

Clothing, Shoes, Accessories 53.25%
Electronics 16.32%
Mother & Child 6.86%
Games, Toys, Hobbies 6.24%

Market Share Of Platforms

Letgo 30-40%
Dolap 20-30%
Gardrops 5-10%
Others 5-15%

Competitive Landscape

Category Key Players Positioning
Automotive Arabam.com, Otoplus Vehicle specialization, high trust
Electronics EasyCep, GetMobil, Banayeni Trusted refurbished devices
Fashion Dolap, Gardrops Fast fashion alternative, trendy UX
Real Estate Emlakjet, Hepsiemlak Niche vertical focus
General Items Letgo, Sahibinden Largest user base, broad categories. No category focus

Key Takeaways

  • Second-hand market is relatively small.
  • Turkey's second-hand e-commerce market is rapidly growing, driven by economic pressures, inflation, and increased price sensitivity among consumers.
  • Global second-hand market growth (e.g., Vinted, Poshmark, ThredUp) shows similar patterns, with resale projected to double in size globally by 2027
  • Buyers are category-sensitive:
    • Fashion → Driven by fast fashion alternatives (Dolap, Gardrops).
    • Electronics → Driven by refurbished/outlet demand (EasyCep, GetMobil).
    • Vehicles → Dominated by Sahibinden, Arabam.com, and Letgo Auto+.

⚔️ Competitive Benchmark

Feature ReNew Logo
Dolap		 ReNew Logo
Gardrops		 ReNew Logo
Letgo
Ownership Trendyol (Alibaba Group) Independent / Private Investors OfferUp
Business Model High Commission (15%)
Buyer Protection (5-11%)		 Low/No Commission
(5% for card payment)		 0% Commission
Buyer Protection (5%)
Ads + featured listings
Target Audience Women, Gen Z, Millennial fashion enthusiasts Young women, students, budget-conscious shoppers Broad audience across all demographics
Primary Vertical Fashion & Accessories Fashion & Accessories General Marketplace
(Electronics, Home, Auto, Fashion, etc.)
Shipping / Logistics Integrated shipping with multiple courier options Integrated shipping with multiple courier options Integrated shipping with multiple courier options
Key Strengths
  • Strong Brand Trust (Trendyol)
  • Integrated payments, buyer protection, in-app dispute resolution
  • Seamless User Experience
  • Large inventory
  • Heavy social media ads, influencer collaborations
  • Low commission
  • Lower prices for buyers
  • Strong Social Community
  • Niche but loyal fashion resale community
  • Social media presence, influencer collaborations
  • High brand recognition
  • Massive User Base & Reach
  • Large category coverage
  • Fast listing
Key Weaknesses
  • High Commission Deters Sellers
  • Less Appealing for Low-Value Items
  • Less Trust from Buyers
  • Smaller Scale than Dolap
  • Lower logistics integration
  • Limited buyer protection, mostly manual dispute handling
  • Low Trust (Known for Scams)
  • Uncurated Listings
  • Security Concerns with Offline Deals

Key Takeaways

  • High commissions are detracting sellers.
  • Category specialized platforms has limited customer reach.
  • Letgo lacks category focus and curation as a general-purpose marketplace.
  • Insufficient buyer protection and authentication.
  • Low quality discovery, leading to a poor user experience.
  • Market fragmentation is low. Few leading platforms for specific categories.
  • Data and AI based features are underutilized (Personalization, fraud detection, fair price estimation, …)

🔍 Market Gaps & Opportunities Analysis

Lack of Category Focus

Gap

Most platforms are broad and generic, with few specialized marketplaces beyond fashion and automotive.

Opportunity

Start vertical-first (fashion), then expand into electronics, sports gear, furniture, and others with tailored UX, logistics, and business models.

Weak Buyer Protection & Trust

Gap

Existing platforms lack reliable fraud detection, escrow, dispute resolution, and refund guarantees, leading to low buyer confidence.

Opportunity

Implement AI-driven fraud detection, advanced seller verification, and refund guarantees to increase trust and conversion rates.

Poor Authentication for Premium Goods

Gap

High risk of counterfeits for branded or luxury items.

Opportunity

Introduce a multi-layered authentication process for all high-value products.

Low-Quality Listings & Listing Friction

Gap

Poor photos, missing details, and inconsistent categorization reduce buyer confidence and searchability.

Opportunity

Provide AI-powered listing enhancements (auto-tagging, photo clean-up, model previews), and incentivize sellers to create high-quality listings.

Weak Discovery & Pricing

Gap

Limited personalization, poor search relevance, inconsistent condition descriptions, and lack of smart pricing tools.

Opportunity

  • AI-driven personalized feeds and faceted search for better discoverability.
  • Dynamic pricing suggestions and standardized condition grading.
  • Visual discovery features such as AI-generated outfit previews.

Underutilized Sustainability & Social Impact

Gap

Platforms fail to highlight the environmental benefits of resale and lack social responsibility programs.

Opportunity

Showcase CO₂ savings, items reused, and seller impact to appeal to eco-conscious users. Launch donation campaigns and sustainability-driven partnerships to position ReNew as a purpose-driven brand.

⭐ Unique Value Propositions

Our Vision

"To build the most trusted, AI-powered marketplace for quality second-hand goods — delivering category-specific experiences that connect people through seamless and sustainable commerce."

Value Propositions & Differentiation

1

Category Focus

  • Niche Down to Scale Up. Launch New Categories as Mini Apps
  • Build strong brand recognition
  • Tailored business models, seller economics and strategies
  • Tailored user experiences
  • Category specific partnerships
  • Capture niche market share
2

AI-Driven User Experiences

  • Reduce workforce, improve efficiency (Customer support, seller support, content listings, security checks, …)
  • Provide personalized experiences and recommendations
  • High quality listings
  • Consistent pricing
  • Drive higher engagement
3

Trust

  • Increase buyer confidence
  • Boost willingness to pay
  • Encourage repeat purchases
  • Reduce transaction friction
  • Strengthen brand credibility
4

Sustainability

  • Built a purpose-driven brand
  • Attract eco-conscious buyers
  • Differentiate from competitors
  • Promote long-term loyalty

💡 Category focused business models driving Trust, AI-driven User Experience, and Sustainability.

👚 Fashion

Category-Focused Business Models

  • Tiered commission structure:
    • Low/No commission → drive C2C growth, ads-based revenue model
    • Mid-level commission → boutiques and professional sellers
  • Influencer & creator partnerships
  • Integrated logistics with door-to-door pickup, delivery, and tracking

Trust

  • Authentication for premium brands
  • AI-powered dispute resolution

AI-Driven User Experience

  • Personalized recommendations
  • AI styling advisor
  • AI mix & match with generated images
  • AI-powered sizing guide
  • AI visualization of outfits on virtual models
  • Curated trends area: e.g., "Vintage Finds," "Season's Top Styles"
  • AI-powered collections & discovery feeds

Sustainability

  • Donation campaigns

💻 Electronics

Category-Focused Business Models

  • Higher commission model due to higher buyer protection costs
  • Extended warranty and repair services as upsell
  • Partnership with refurbishment centers & dent stores

Trust

  • Certified refurbished partnership with warranty
  • Quality Guarantee Program: 48-hour return window

AI-Driven User Experience

  • AI-powered price advisor

Sustainability

  • Recycling partnerships to promote sustainability

🚗 Automotive

Category-Focused Business Models

  • Auction-based selling model
  • Ads & premium listing revenue model
  • Partnerships with used car dealerships
  • Finance and insurance add-ons for additional revenue

Trust

  • Vehicle inspection and verification services
  • Seller verification, KYC procedures

AI-Driven User Experience

  • AI price advisor for fair valuations

Sustainability

  • Highlight low-emission vehicles

🏠 Real Estate

Category-Focused Business Models

  • Auction-based selling model
  • Ads & premium listing revenue model
  • Partnerships with real estate agents & brokers
  • Partnerships with developers for exclusive new projects

Trust

  • Seller verification, KYC procedures

AI-Driven User Experience

  • AI price advisor for accurate market-based valuations
  • AI opportunity finder: Detect under-priced or high-potential properties
  • Interactive map discovery and neighborhood insights

Sustainability

  • Highlight eco-friendly buildings or green neighborhoods

🚀 Core Growth Strategy: Niche Down to Scale Up

Our core strategy is to niche down to scale up. Instead of trying to compete directly with everyone on all fronts, ReNew will focus on a specific, high-value vertical to build a dedicated user base and create a strong brand identity.

ReNew App Interface

🚀 Core Growth Strategy: Niche Down to Scale Up

Our core strategy is to niche down to scale up. Instead of trying to compete directly with everyone on all fronts, ReNew will focus on a specific, high-value vertical to build a dedicated user base and create a strong brand identity.

Phase 1

1-6 Months

Market Introduction

Build the brand around luxury, designer fashion and evening wear resale market.

  • Build & ship core mobile app + seller listing MVP.
  • Iterate on user feedback and rapid experimentation to launch new app features.

  • Higher Average Transaction Value (ATV) with luxury items.
  • High-value goods require a higher level of trust. Exploit competitor's lack of robust verification processes.
  • Celebrity & influencer partnerships
  • Stronger Seller & Buyer Motivation: Sellers list high-quality items, and buyers are willing to pay for authenticity.

Phase 2

6-12 Months

Vertical Specialization / Niche Extension

Conquer fashion category. Extend to following niches:

  • Baby clothes and gear / Baby clothing and essentials
  • Wedding dresses, bridal accessories, and groom's suits
  • Bags & accessories
  • Luxury
  • Maternity
  • Modest wear / Hijab fashion

Phase 3

12+ Months

Category Expansion

Launch new categories with highly specialized business models and seamless customer experience.

  • Electronics
  • Home, Garden, Furniture
  • Automotive
  • Real Estate
  • Sports
  • Musical Instruments
  • Luxury Watches
  • Others

🎯 North Star Metrics & Growth Targets (12 Months)

Phase 1: Months 1–6
Focus On Luxury

  • Target audience: Affluent buyers and sellers → luxury, designer, evening wear.
  • GMV strategy: High AOV with limited transaction volume.
  • Acquisition: Influencer partnerships, curated seller onboarding, social proof to build trust.
  • Experience: Premium support → sets NPS benchmark high.

Phase 2: Months 7–12
Expansion to All Fashion

  • Target audience: Mass-market fashion resale buyers and sellers.
  • GMV strategy: Increase transaction volume even as AOV declines.
  • Acquisition: Referral programs, broader marketing campaigns.
  • Focus on retention: Loyalty rewards and improved seller tools to drive repeat activity.

North Star Metrics

Category KPI Month 6 Target (Luxury focus) Month 12 Target (All fashion)
Financial Health GMV (Gross Merchandise Value) (Monthly) $500M $2M+
GMV Growth Rate (MoM) 45–55% 25–35%
Take Rate (GMV → Revenue) 6% 10%
Gross Margin on Transactions 15%+ 25%+
LTV / CAC >2.0 >3.0
Average Order Value (AOV) ₺2000 ₺800
Growth & Acquisition Active Buyers / Month 12,000 70,000
Active Sellers / Month 1,000 7,000
Buyer Conversion Rate 2.50% 4%
Listings Published / Week 2,000 10,000
New vs. Returning Buyers Ratio 80/20 60/40
Engagement & Retention Repeat Buyer Rate (30/90-day) 20% / 35% 30% / 50%
Seller Retention Rate 70% 80%+
Average Time to Sale 14 days 7 days
Churn Rate (Sellers & Buyers) 15% 10%
Customer Experience & Trust Net Promoter Score (NPS) 50+ 55+
Order Dispute / Refund Rate 3% 2%
Fraud Incidents Detected & Resolved 95%+ detection & resolution 98%+ detection & resolution
Support Resolution Time 24 hours 12 hours

🧑‍💼 Team Structure & Hiring Plan

Phase 1: Seed Team (9 People) Months 0-3

Product & Growth Team 4 people

  • Head of Product / PM (1)
  • Growth marketer (1)
  • Designer / UX (1)
  • Data Generalist / Analyst (1) (Part-time)

Technical Team 3-4 people

  • Engineering Lead (1)
  • Mobile + frontend engineer (1)
  • Backend engineer (1)
  • Test Engineer (1)

Operations & Community 2 people

  • Community Manager / Creator Partnerships (1)
  • Ops / Logistics lead (1)
  • Support (contract) (1)

Phase 2: Scale Team (~25 total) Months 4-12

Product & Growth Team

  • Product Manager (+1)
  • Data Analyst (Full-time) (+1)
  • Designer / UX (+1)
  • ML Engineer (Fraud detection, personalization) (+2)

Technical Team

  • DevOps / Cloud Engineer (+1)
  • Frontend engineer (+1)
  • Backend engineer (+1)

Operations & Community

  • Trust & Safety Team (+3)
  • Customer Support Team (+3 - +4)
  • Community Manager / Creator Partnerships (+1)

Thank You

ReNew Logo