What Is Olive?
Olive is a sustainable B2C ecommerce startup company that consolidates retail shopping for customers into a weekly delivery in a reusable package. Customers are able to shop through the startup company from hundreds of different retailers like Anthropologie, Free People, Goop, Adidas, Ralph Lauren, and so many more. Once customers receive their package from a business, they are able to select the items they would like to return to the company in the same reusable package the business delivered them in. The ecommerce startup company does not charge extra for delivery or item pickup returns.
The ecommerce startup business states several elements to the company mission, such as, reduce waste, make a significant impact on carbon emissions, and one day eliminate single-use packaging. In 2017, Bain Insights reported that by consumers doubling the average number of items per delivery, item emissions could be reduced by up to 30%. Additionally, the Environmental Protection Agency, or EPA, reported that 4.2 million tons of paper and cardboard were combusted in 2018.
Founder of the startup business, Nate Faust, said in a note on the business website, “Olive's journey began with the realization that today's e-commerce delivery experience is both incredibly painful and a major growing environmental concern... It is unbelievable that we have been shopping online for over 25 years and we receive our purchases in single-use cardboard boxes filled with plastic air bubbles...Olive's mission is to tackle this problem head-on.”
The Home Delivery Market
The B2C delivery market was already on the rise pre-COVID; however, the pandemic put this industry in overdrive to meet the needs of customers. Retailers were already familiar with B2C delivery when customers would shop at their stores online. However, in recent years, clothing and lifestyle B2C subscription boxes have also stepped onto the scene. Between 2018 and 2019, there was a 40% increase in the number of subscription boxes on the market, including bigger B2C company names like StitchFix, FabFitFun, and BirchBox.
In addition, the B2C ecommerce market accounts for 8% of retail sales today and is expected to reach 14% to 16% ($1 trillion) by 2022. The United Parcel Service, or UPS, has even stated that 50% of its domestic parcel deliveries are the last-mile portion of ecommerce deliveries.
The B2C market is growing by the day, and the ecommerce startup business is just one of the many retail services saturating the market.
About the Author
McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.