Let's Talk Resale Trove Inc.

Join host Andy Ruben, founder of Trove, in a groundbreaking episode where the intersection of business and sustainability takes center stage. Uncover the strategies and insights that redefine sustainability as not only essential but smart business. In this candid conversation, Andy and industry experts Asha Agrawal Head of Corporate Dev at Patagonia, Chris Riley, former strategic planning director Wieden+Kennedy, and J.R. Siegel Sr. Director of Product Innovation at Wordly, explore the evolution of circular business models, the imperative of integrating sustainability, and why it's not just a choice but a necessity for successful companies. Buckle up for a journey where innovation isn't an option—it's the key to thriving in a business landscape where sustainability is the new standard.

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.

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?

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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.

This Weeks Key Takeaways:

Selling second-hand products has the potential to attract customers in ways that one-off, sustainability-oriented products haven’tBrands and retailers looking to increase profits can benefit from launching resale programs that include returns, as they can provide cost savings starting point

This Weeks Key Takeaways:

Brands will continue to innovate toward a listing/trade-in value proposition that makes sense to their customers. Lululemon and Frye were good examples highlighted in the 2023 Resale IndexAlthough the economics differ, rental and resale both hold brand benefits in more circular models. Brands will want to pick the right model(s) that make sense for their customers