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Let's Talk Resale
Trove Inc.
34 episodes
9 months ago
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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All content for Let's Talk Resale is the property of Trove Inc. and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
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
Show more...
Fashion & Beauty
Arts,
Business,
News
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The Resale Edit: 5 Resale Predictions for 2023
Let's Talk Resale
8 minutes
2 years ago
The Resale Edit: 5 Resale Predictions for 2023
5 Resale Predictions for 2023 As the news slows down for the Holidays and New Year, we’d love to share our resale predictions for 2023.

Let’s start with how the end of this year. 2022 will be the year Branded Resale became table stakes. We went from 31 to 120+ brands with dedicated resale programs. There is no going back.

Brands didn’t start the shift, customers did as pioneers such as The RealReal, Poshmark, Rent the Runway, and ThredUP made it easier than ever to shop secondhand. Brands took it from there. Eileen Fisher’s ‘Green Eileen’ was the first in 2009 but still positioned as philanthropic. Patagonia x Trove launched Worn Wear in 2016 as the first branded resale program, quickly followed by Eileen Fisher x Trove and REI x Trove later that year. ThredUP launched RaaS in 2019. Reflaunt was founded in 2017, Recurate in 2020, Archive in 2021, and most recently Treet all of whom make it easier than ever for brands to launch branded programs.

The customer shift continues to make resale the fastest-growing retail channel and the more brands with resale programs, the more customers expect brands to have resale channels. There is no going back.

So what’s next?

5 Predictions for 2023
  1. Brands with newly launched resale programs move to build resale businesses. This requires a path to scale and profitability and will ultimately require logistics. 2023 will start to really separate the headlines from the businesses moving hundreds of thousands of single SKU items to new homes.
  2. Brands further integrate the customer journey more fully realizing the power of resale and trade-in. We saw the start of this in 2022 with integrated carts, order history, store trade-in, and returns, and that trend will accelerate.
  3. Continued consolidation of third-party marketplaces. There is room for a few third-party marketplaces, which are really simply retailers but fewer than the number today. We saw the start of this in 2022 with Tradsey, Poshmark, and Grailed but there is more to come as these marketplaces work to both scale and prove long-term business viability.
  4. New innovation models that mix historically separate ideas such as resale, rental, and discovery. These lines are blurring and there will be more companies starting to pioneer on the backs of what brands are now doing.
  5. Luxury’s wake-up call. Luxury will realize it’s time to act in order to protect their brand from being sold in channels they can’t control. Retail is a large marketplace and as Amazon, Walmart, Saks Off 5th, and more start selling Gucci and Louis Vuitton, there is a risk to the luxury brands themselves–in both brand equity and authenticity.
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