Trove

Prime Day is taking place next week from July 16-17, encouraging consumers to take part in Amazon’s daily exclusive deals and quick delivery. As a result, retailers have also launched major sales on thousands of items to compete with this retail moment, such as TikTok Shop’s “Deals for You” Days which kicked off today. While heavily discounted items can be a great perk, this can also lead to:  📌 Spontaneous purchases encouraging overconsumption 📌 Excessive packaging as items ship from various warehouses  📌 Increased amount of carbon emissions as rapid delivery deadlines must be met We’re calling on consumers to think twice before making impulse buys on items they may not need. Instead, we encourage consumers to take the following alternatives:  💡 Shopping at secondhand marketplaces or branded resale programs for items needed  💡 Practicing mindful consumption by evaluating the true need for a product  💡 Supporting companies prioritizing sustainability in their practices By prioritizing sustainable retail efforts, consumers and businesses alike can improve life on the planet.  Shopping does not need to contribute to the Earth's growing emissions. With a collective effort, we can fulfill our goals in establishing a more circular economy.   #BrandedResale #CircularEconomy #CircularFashion

Growth in the resale market has been monumental, but while the industry generally shuns the word "used" it has not coalesced around an alternative. What's your favorite? “Pre-owned,” “pre-loved,” “secondhand,” or something else? Thanks for the insight, as always, from Archive CEO Emily Gittins, resale veteran Karin Dillie who these days is hanging her secondhand hat at Back Market, and Trove founder Andy Ruben.

While the Fourth of July honors the United States’ independence, this holiday has become a signal for retailers to push out themed inventory or items with discounted pricing. As a result, consumers often make purchases fit for one-time use, and that will eventually make their way to landfills. While it can be tempting to partake in this holiday shopping, an alternative to buying new is shopping at secondhand marketplaces, branded resale sites, or vintage and thrift stores selling pre-owned items. How can you and consumers alike reduce waste and carbon emissions with your purchasing power?  This year, we encourage everyone to make intentional purchases to minimize their environmental footprints and kick off a night filled with celebration by supporting a more circular economy. To explore who we’re currently partnering with, visit https://lnkd.in/gCYMDMtk. #CircularFashion #BrandedResale

The future of fashion is prioritizing circularity – starting with the secondhand clothing market. According to The Guardian, the secondhand clothing market is on track to make up 10% of global fashion sales by next year. This is becoming the new norm for savvy consumers dealing with rising costs of living and prioritizing environmental awareness. Why this is a win-win for both brands and consumers:  🤝 With branded resale programs, businesses can drive new revenue, increase profitability, attract new customers 🤝 Consumers can reduce their environmental impact and have more opportunities to purchase higher-quality items  🤝 Increasing access to well-made, durable garments increases their cost-per-wear value How can partnering with us support these outcomes? With Trove’s technology, businesses can quickly and seamlessly create a branded, risk-free, low-effort resale experience, promoting an inclusive and sustainable business model. Learn more at https://lnkd.in/ewBveBQU.

Gen Z and Millennials are paying more attention to the resale economy. According to eBay's 2024 Recommerce Report, 66% of Gen Z and 62% of Millennials agree that shopping preloved has grown to be personally important – with the top motivator behind this preference being to save money. Now is the time for brands to consider entering the secondhand market. By launching a branded resale program, retailers can increase accessibility to high-quality goods, strengthening customer loyalty, reducing overconsumption habits, and lowering their environmental footprint. Here at Trove, we believe brands can grow their business without growing emissions. As a leader of the resale revolution, we’re offering scalable re-commerce solutions that extend the life of millions of products, creating more inclusive, less wasteful business models. Learn more at https://trove.com/.

We had a great time attending Innovation Forum’s Sustainable Apparel and Textiles Conference in New York this week! Our team sat in on conversations focused on topics ranging from the latest in consumer values to developments around measurement in the sustainability space. Some industry takeaways that caught our attention:  👕 Most brands believe shoppers are still far from actually shopping their alleged values. 👕 There is a corporate and legislative responsibility to create a winning strategy for sustainability. Backing proposed bills like The Fashion Act can be a first step. 👕 The supply chain is seeing an ongoing theme of prioritizing progress over perfection.  👕 There’s a strong focus on measurement, but brands should be mindful of delaying innovation because of this.  👕 Brands with retail stores have an advantage when it comes to resale programs, giving consumers more facetime with their products. We’re excited to apply these learnings to the future of Trove. If you’re planning to attend the next big conference in sustainability or apparel, get in touch with us at events@trove.com. #IFapparelUS24

Did you know that brand new returns can end up in landfills? Each year in the US alone, customers return approximately 3.5 billion products, according to BBC Studios. Leveraging a branded resale provider like Trove to handle returns and excess inventory offers brand protection, enhanced customer engagement, sustainability advantages, improved inventory management, revenue generation opportunities, and access to valuable data insights. With an influx in returned and trade-in items, brands and retailers face a new logistics challenge: how to ensure items are generating the most value for their business. Trove’s Recommerce Operating System, powered by proprietary technology and elastic operations integration, is already extending the life of millions of returned items. With fewest-touch intake, intelligent routing, and disposition technology that directs every item to its highest economic outcome, Trove supports brands to solve the returns puzzle and keep items out of landfills. With Trove, brands and retailers can: 🌍 Efficiently receive, inspect, and process trade-in and returned items.  🌍 Generate sales from returned inventory and customer trade-ins through a single, fully-branded, and catalog-powered platform, built by Trove.  🌍 Deliver resale inventory with consistent on-brand attributes through every selling channel. 🌍 Minimize human touches and workforce costs through algorithm-guided inventory flows, including real-time changes in demand, supply dynamics, seasonality, and staffing. To learn more about how Trove can keep your return inventory out of landfills, visit us at www.trove.com. #TroveRecommerce #BrandedResale #SustainableRetail

Since the start, Trove’s partner Arc'teryx has made product longevity a key initiative. When the company launched ReBird, its branded resale program powered by Trove’s technology, customers were able to give their gear an extended life by listing it for secondhand shoppers or opting for refurbishing services.  Branded resale programs have allowed companies to tap into the circular economy and earn revenue on inventory past the first purchase. Not only does it promote sustainability, but it also strengthens the business’ bottom line. It’s been an exciting partnership with the Arc'teryx team, and we can’t wait to see how else the outerwear company continues to contribute to the circular economy! Visit https://lnkd.in/gCYMDMtk who else Trove is partnering with to minimize waste in fashion. #TroveRecommerce #BrandedResale 

Despite the growing climate concerns around clothing production reaching an all-time high, according to a new report by the Apparel Impact Institute, by 2023, carbon emissions produced by the fashion industry are expected to increase by approximately 40%. Earlier this year, the ACT (American Circular Textiles) Group voiced its support for The Americas Act to pass, a decision that would dedicate over $14 billion of federal funds towards incentives for circularity across apparel, footwear, accessories, and home linens. While the passing of this bill would mark a positive stride in the fashion and textile industry, creating circular businesses also requires the power of consumer purchasing. At Trove, we stand behind this bill with the united goal of championing sustainability and low-carbon manufacturing practices. We urge consumers to advocate alongside us and shop via secondhand marketplaces or branded resale sites to lessen fashion’s environmental impact. To learn more about how Trove’s technology is supporting branded resale programs, visit https://lnkd.in/eJ_v8Bzr. #TroveRecommerce #BrandedResale #SustainableRetail #CircularFashion 

Last Friday Retail Women in Tech hosted a discussion about sustainability & re-commerce with Namrata Sandhu, CEO of Vaayu and Liz Miller, Director of Luxury and Fashion Business Development Trove. So good & I learned so much! 📰 Headlines -There are no global standards making it very challenging & complex -Europe is leading the way & putting sustainability regulations in place -It is very difficult to understand impact & implications of strategies given data availability, gaps & discrepancies  -Digital passports are key to getting visibility & access to real-time data, plus ability to scenario plan -Certain business models we consider “good” may, in fact, not be as much as we hope they are (ie: rentals) 🛍 Consumers: what to know -In the US, for the foreseeable future, it’s social & consumer pressure that have the power -Concerns that social justice fatigue will impact choices consumers make -The definition & expectations on what “premium” is need to change. Reality is the packaging, though gorgeous, is often thrown away -Buy better made clothes that last longer -RETURNS! This behavior is one of the worst contributors 💹 Brands and retailers, what to know:  -It’s about balancing budget & values -Sustainability & re-commerce strategies do not have to be expensive nor at odds with financial objectives -Invest in technology that allows you to calculate & optimize your carbon footprint -Invest in trade-in & branded resale programs & partnerships to reduce carbon emissions -Provide visibility to your customers on what you are doing & what they can do -Evaluate how your teams are structured & rewarded; too often, efforts are fragmented & teams decentralized impacting effectiveness of strategies -Hardest to solve for is product, so start with packaging and logistics 👩💼 Careers Development -It’s about finding the intersection of your passions & purpose -Take the “climbing wall” approach to experiences & roles that help you achieve your aspirations -Start now & ask for what you want to do in your organization to support sustainability & re-commerce efforts