In the world of sustainable shopping, Faircado is making waves. We sat down with Evolena de Wilde d’Estmael, co-founder of Faircado, to discuss how this AI-powered platform is revolutionizing the second-hand market, making it easier than ever for consumers to make eco-conscious choices without breaking the bank.
She is an ambassador of the EU Climate Pact and was recognized as a Top 100 Women in Social Enterprises in 2022, a Digital Female Leader in E-commerce, and the winner of the prestigious startup competition Slush100 in 2023.
Evolena shares her insights on Faircado’s mission to promote a circular economy, the role of AI in personalizing the shopping experience, and how the platform addresses common concerns about buying pre-owned products. Join us as we delve into the future of sustainable shopping with Faircado.
Faircado was founded with the goal of promoting a circular economy. How do you measure the environmental impact of users choosing pre-owned products through your platform, and what tangible results have you seen so far?
Evolena: “For each item bought second-hand instead of new, we’re saving around 80% of its environmental impact. It’s huge! And you’re not only saving CO2, but also water, precious resources, and waste. So I think it’s about time that e-commerce giants like Shein and Amazon stop pushing consumers towards impulse purchases of low-quality items. Consumers want easy access to quality and durability at fair prices. They want to shop easily without breaking the bank nor destroying the planet. And they are right: Amazon’s own research shows that two-thirds of people prefer to buy products with a more positive environmental impact, but often don’t know how. That’s why we’ve built Faircado: to make second-hand, the most affordable and ecological choice, the most obvious & easy one, too!”
Faircado simplifies finding pre-owned products online, but how does your AI-powered extension and apps ensure that users get the most relevant and highest quality second-hand alternatives?
Evolena: “Like most things, it’s constant learning! Our AI learns from the preferences and purchase behaviors of our users in order to return results that are as relevant and high-quality as possible. It tries to recognize patterns in product searches and filter out options that don’t meet our quality standards by assessing product descriptions, reviews, and historical data from our partners. It’s also trained to understand brand families, specific models, and other product-specific nuances. But our algorithm is still learning, and so the more you use it, the better the results will become!”
Privacy is a top concern for many users when using browser extensions. Could you elaborate on the types of data Faircado collects and how you ensure it remains anonymous and secure?
Evolena: “Yes, data privacy is extremely important to us. Faircado collects the minimum data necessary to improve the shopping experience, such as user preferences and search history. All data is anonymized and encrypted, adhering to GDPR guidelines. We don’t track personal identifiers, and data collection is strictly for optimizing the recommendations and user journey, never shared with third parties without consent. We also ensure data security with regular audits and state-of-the-art encryption protocols.”
One of Faircado’s main selling points is helping users save money while promoting sustainable shopping. Can you share how the platform achieves this balance between affordability and environmental impact?
Evolena: “At Faircado, we want to make sustainable shopping easy and affordable by curating second-hand products that often come at a lower price than new ones, while still offering quality alternatives. The key is in partnering with reliable platforms and offering transparency and price comparisons that help users make informed choices that are better for their wallet and for the planet. We are convinced that this will empower millions of consumers to make second-hand their first choice.”
Faircado boasts a vast database of pre-owned products from over 70 trusted partners. How do you ensure that all your partners meet your standards in terms of product quality and customer satisfaction?
Evolena: “We carefully vet our partners before bringing them on board. Our criteria include product quality, customer satisfaction, and alignment with sustainability practices. We also constantly monitor user feedback to make sure that every partner meets our standards. This rigorous process helps maintain a consistent, trustworthy shopping experience.”
As Faircado continues to grow, how do you plan to expand into the mobile ecosystem, and what additional value will the mobile app bring to users’ shopping experiences?
Evolena: “We actually just launched an app! We wanted to provide our users with a more seamless, on-the-go shopping experience. The app allows for better integration of push notifications, real-time updates on price drops, and even more personalized recommendations. And the best part is: our users can now take a picture of a product in-store or upload a screenshot to find pre-owned alternatives, adding even more value to their shopping journey. You should try it, it’s great!”
Personalized recommendations are a big part of the Faircado experience. How does your AI evolve to better match users with second-hand products that fit their preferences?
Evolena: “Yes. Our AI evolves continuously, and learns from every interaction to better match users with products that suit their tastes and needs. Over time, we want it to recognize deeper patterns in preferences—such as preferred brands, price ranges, and even condition of second-hand products. This constant evolution will ensure that the recommendations grow more accurate and aligned with each user’s shopping habits. It’s not live yet, but follow us on socials @faircado to be the first one informed when it is!”
What are the most common concerns you hear from users about shopping for second-hand products online, and how does Faircado address these concerns, particularly in terms of return policies and product conditions?
Evolena: “The second-hand market is booming, mostly driven by younger generations. It’s growing 11 times faster than traditional retail at the moment. Which is amazing news, but comes with a few challenges, too. Like the fact that the offers (all unique by definition) end up scattered all around the web, for instance, making it hard to get transparency over their availability. There are hundreds of second-hand stores in Germany only, how do you know where to find the one specific thing that matches exactly what you’re looking for? That’s why we are working closely with our partners to ensure full transparency and fair access to information. Only then, we’ll manage to empower every consumer to become the actor of a new era of consumption: one that’s better for their wallet and for the planet!”
