Let's Talk Resale

Trove Inc.
Let's Talk Resale

In 2022 alone, there were 150 billion new garments produced to clothe a world of only 8 billion. 90% of that ends up in landfills. No question, the fashion industry is hurtling toward a reckoning. Here at Trove, we intend to learn, unlearn, and relearn so we can inspire our peers, the industry, and our youth that as a collectively conscious body, we can achieve growth without growing our emissions. Let’s Talk Resale is a foundational series that considers the emerging landscape of resale also known as recommerce. We follow Andy Ruben - Founder and Executive Chair of Trove - as he dives deep into the trends shaping the circular economy. Each episode’s theme will address key issues that brands face when adopting a recommerce platform. We’ll interrogate the nuances of sustainability and discuss the implications of recommerce for brand control. You’ll hear key anecdotes from brands with resale models that are already thriving, such as REI, in addition to a bottom-up approach, where we interview several members of Gen Z, and gain insight into the future consumer. To capture the fast-paced weekly news in the resale industry, we have an episode every Tuesday, The Resale Edit, that highlights the key trends and takeaways for brands and their teams which is hosted by Trove's Head of Content, Samantha Dersarkissian. Subscribe to the accompanying newsletter here. This series is a tour de force that will educate, inspire, and offer insight into Trove’s product and vision. While targeted to thought leaders and luxury executives, all listeners will gain a robust understanding of the state of recommerce. Along the way, you'll come to face the inevitable choice fashion brands must make to stay relevant in the 21st century. Looking for more resale content? Check out www.trove.com

  1. 13/10/2023

    Let's Talk Resale: Digital Threads- How Item Digitization is Reweaving Retail's Future

    In this episode of "Let’s Talk Resale," we dive into the future of item digitization, where every product will have its own digital identity. Joined by industry leaders, we'll discuss how brands are navigating this new terrain, especially in light of emerging initiatives like the EU's digital product passports. This isn't just about meeting new standards; it's about leveraging this dual physical-digital nature, much as products like Tesla and iPhone do, to maximize customer engagement and opportunities. Tune in for practical insights and strategies every brand executive should consider. In this episode of "Let’s Talk Resale," we delve into the future of item digitization, envisioning a realm where each product possesses its own distinct digital identity. Industry leaders join us to navigate this quickly emerging new terrain. Niall Murphy, Founder EvrythngLindsey Hermes, Avery DennisonDr. Daniela Ott, Secretary General Aura BlockchainNatasha Franck, Founder and CEO of EONGayle Tait, CEO of TroveWe explore how brands are adapting to this digital revolution, especially with the emergence of initiatives such as the EU's digital product passports. This is far beyond merely meeting new standards; it's about harnessing the power of this dual physical-digital essence, akin to renowned products like Tesla and iPhones, to optimize customer engagement and unearth opportunities. Tune in for invaluable insights and practical strategies that every brand executive should consider.

    50 min
  2. 24/05/2023

    Let's Talk Resale: IYKYK...Brands' Next Generation of Customers

    Who is the customer of tomorrow? How do they shop? What do brand - and brand values - mean to them? In this second episode of Let’s Talk Resale, we consider brands' future customers. We live amid a massive cultural shift in customers' beliefs and priorities. Digital commerce and internet ubiquity have changed the shopping experience - brands, pricing, reviews, and comments. Gen Z is coming into their earning years with a fresh point of view. In this episode, we will understand the future customer and what they might want going forward. We will hear from two industry experts -Tony Ambroza, whose experience is leading branding and growth for brands such as Carhartt, and author Martin Newman, who is “One of the world’s leading authorities on customer centricity.”We also speak with three GenZers, Katie Xue, Armaan Ahmed, and Sophie Richter–all recent college grads. They are each involved in the art and the fashion industry. Katie leads a small, sustainable women’s wear brand called Amoy New York. Armaan is getting ready to go to grad school for philosophy and art. Sophia works for The RealReal as a luxury manager. Brand narrative matters more than ever, with a new emphasis on sustainability, authenticity, and individuality. Customers want the brands to reflect their values. The question is, how will your brand evolve to excite and inspire this new generation? Want more resale content? Subscribe to our weekly Resale Edit here

    44 min
  3. The Resale Edit: Decoding ThredUp and eBay's Moves to Uncover the Future of Resale

    03/05/2023

    The Resale Edit: Decoding ThredUp and eBay's Moves to Uncover the Future of Resale

    ThredUp and eBay in the News: Decoding Their Moves to Uncover the Future of Resale This Weeks Key Takeaways: Embrace in-house resale channels: While brands can learn from resale marketplaces, it's essential to bring resale in-house as it becomes a more significant portion of salesLeverage strategic partnerships with marketplaces: As platforms like eBay continue to grow their partnerships with brands, every brand must incorporate the potential benefits of these marketplaces as a strategic component of their resale strategyThe addition of Toms and The Container Store to ThredUp's RaaS partners underscores the growing significance of the resale market. As resale becomes an increasingly important part of revenue and customer engagement, brands must recognize the value of entering the resale market through RaaS programs and anticipate the need to own their resale channels to stay close to their customers.Although partnerships with marketplaces offer brands an easy entry point into the resale market, they must look beyond these collaborations in the long run. As resale becomes a more meaningful part of revenue, brands must develop their channels to maintain customer loyalty and stay competitive.Brands can initially work with marketplaces or establish independent resale channels through service providers. Regardless of their choice, brands must plan for the future and build strong connections with their customers through owned resale channels.eBay's introduction of new services like the Authenticity Guarantee for streetwear and Certified by Brand for watches, handbags, and fine jewelry demonstrates the platform's recognition of the growing resale market. By offering trust and transparency to buyers, eBay is raising the bar in the resale experience.As the resale market evolves, platforms like eBay must adapt and offer innovative solutions catering to customers' trust and quality demands. eBay's moves to be closer to brands create an opportunity for brands to strategically collaborate with marketplaces like eBay, making the most of these partnerships.The resale market is expanding, with Sam Edelman partnering with Archive and designer Altuzarra collaborating with Reflaunt. As more brands enter the resale arena, customer expectations will rise, and resale will account for an ever-growing share of the retail landscape. Brands must treat resale as a vital channel, as Sam Edelman and Altuzarra do.The future of retail is here, and brands must adapt to the resale market's rising importance by owning their channels and collaborating strategically with platforms like eBay.

    5 min

About

In 2022 alone, there were 150 billion new garments produced to clothe a world of only 8 billion. 90% of that ends up in landfills. No question, the fashion industry is hurtling toward a reckoning. Here at Trove, we intend to learn, unlearn, and relearn so we can inspire our peers, the industry, and our youth that as a collectively conscious body, we can achieve growth without growing our emissions. Let’s Talk Resale is a foundational series that considers the emerging landscape of resale also known as recommerce. We follow Andy Ruben - Founder and Executive Chair of Trove - as he dives deep into the trends shaping the circular economy. Each episode’s theme will address key issues that brands face when adopting a recommerce platform. We’ll interrogate the nuances of sustainability and discuss the implications of recommerce for brand control. You’ll hear key anecdotes from brands with resale models that are already thriving, such as REI, in addition to a bottom-up approach, where we interview several members of Gen Z, and gain insight into the future consumer. To capture the fast-paced weekly news in the resale industry, we have an episode every Tuesday, The Resale Edit, that highlights the key trends and takeaways for brands and their teams which is hosted by Trove's Head of Content, Samantha Dersarkissian. Subscribe to the accompanying newsletter here. This series is a tour de force that will educate, inspire, and offer insight into Trove’s product and vision. While targeted to thought leaders and luxury executives, all listeners will gain a robust understanding of the state of recommerce. Along the way, you'll come to face the inevitable choice fashion brands must make to stay relevant in the 21st century. Looking for more resale content? Check out www.trove.com

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