Bunz is a for-profit enterprise offering an online trading platform where users can post and search for used goods and services to trade and earn rewards that can be redeemed at participating local businesses. 

A simultaneous improvement in both ecological and economic efficiency is necessary to achieve the Sustainable Development Goals (SDGs). Leveraging on digital technologies, the sharing economy has potential to promote the needed shifts in collective consumption behaviour.

The Bunz app began in Toronto in 2013 when co-founder Emily Bitze started a Facebook group to see if she could trade with her neighbours and friends to get ingredients for a plate of pasta. From these humble beginnings, the Facebook group grew to become a thriving trading community.

To start trading, users simply create a profile and upload a photo and description of the items or services they want to trade. In April 2018, Bunz introduced its own currency called BTZ, which users earn for participating in a daily survey sponsored by select companies. Bunz distributes 60 per cent of its revenue to users in the form of BTZ, which they can use as part of a trade or to buy things from participating local businesses, specifically cafés and restaurants. When BTZ are used to purchase something at a participating business, Bunz pays these businesses in cash. In the past year, this has amounted to over $1 million.

Bunz supports the circular economy model by:

- enabling a local exchange of used goods aimed to extend their usage lifecycle

- disrupting the notion that the economy relies on the manufacture of new products

- helping people to consider ways they might meet their wants or needs through an informal economic system in which the value of both used goods and service offerings is determined by users

So far, the Bunz app counts on $1.4 million redeemed by local businesses in 12 months, 400,000 registered users, 422,000 annual trades, and $10 saved on average per trade.

The company collaborates with several local businesses, social enterprises, and not-for-profit organisations through its "Shop Local" program. In addition, Bunz raises awareness on its social media platforms by posting about events showcasing local artists and supporting marginalised communities.

The Bunz app is available everywhere — it just needs local people to start new communities by posting items, inviting friends and spreading the word about the platform. To date, Bunz has had inquiries from people in New Zealand, Australia, and the UK about how to start local trading communities using the app. Word-of-mouth marketing by its users has enabled it to organically expand its network beyond Toronto – with active trading networks in Ottawa, Montreal and Vancouver.

For now, Bunz is waiting to see if these initiatives will continue to grow organically or if it will need to hire staff outside of Canada to support its growth.

Photo by Sandro Schuh on Unsplash.