Trove

As 2024 comes to a close, we’re taking a step back and surveying a year of important resale trends and milestones. Program launches and expansions, new software suites, performance bumps, and much more – it’s all in our 2024 Year in Review: https://lnkd.in/eWdwKZ7G

Trove’s acquisition of Recurate (acquired by Trove Recommerce) was a significant change to the competitive landscape of branded behind-the-scenes resale. Since around 2022, Trove, Recurate, and other competitors including Archive, ThredUp, Reflaunt and CaaStle, have been on a spree of signing new brands to their platforms. Levi Strauss & Co., Patagonia, Oscar de la Renta and Abercrombie & Fitch Co. are among brands that have debuted resale channels powered by one of these companies in the last two years. But Trove is now well-positioned as a leader in the space. After the acquisition of Recurate, Trove now holds around 75% of the branded resale market and offers both inventory management and peer-to-peer resale. It has raised over $150 million in funding since its inception in 2016. According to CEO Terry Boyle, the next year will see Trove increasingly focused on an aspect of branded resale that is still nascent: the integration of brands’ secondary and primary channels. Read more: https://lnkd.in/esnJGaiV #fashion #resale

With the global resale market set to reach $250B by 2027, secondhand commerce is emerging as a powerful market force.. For brands in thriving sectors like fashion, outdoor gear, home appliances, and travel, resale presents a significant opportunity to generate new revenue, strengthen customer loyalty, and enhance sustainability credentials. Here’s how it can make a difference for your business:  💰Unlock a New Revenue Stream: Offering a secondhand option is a strategic way to turn excess non-new inventory into a revenue-generating channel. Trove’s partners saw increased sales using our active pricing algorithm, showing that a well-designed and scalable strategy can enhance the value of your program even further. 📈Keep Inventory Moving, Profitably: Instead of warehousing or discounting unsold non-new products, move them through a dedicated resale channel, protecting your brand’s full-price positioning and generating further value. 🤝Build Customer Loyalty Beyond the First Sale: A trade-in program invites customers to “upgrade” their gear when they’re ready, while repairs and refurbished items demonstrates your commitment to keeping items in circulation. Carhartt’s Reworked program, for example, engages with customers and boosts LTV with instantly shoppable gift cards available in stores and through mail-in trade-in, creating a positive feedback loop with customers that keeps them active long after the initial purchase. 💚Win New Customers and Keep Them Coming Back: Resale is a powerful way to attract new customer segments, especially value-driven Millennials and Gen Z, who prioritize sustainability, affordability, and conscious consumption.  🌍 Reduce Waste and Build a Sustainable Brand: Resale is at the heart of the circular economy – a system focused on keeping products in use through reusing, repairing, and recycling instead of throwing them away. With the right partners and technology, enhancing your sustainability initiatives can be straightforward. 🌱 Learn more on how you can empower your business to do so in our blog post: https://lnkd.in/e7bHP_rW #TroveRecommerce #HolidayReturns #CircularEconomy 

🏆🌍 Our partner Arc'teryx Equipment has been named one of Fast Company's Brands That Matter, recognizing their “No Wasted Days” campaign! The campaign demonstrated how the Arc’teryx’s ReGear program, powered by Trove, keeps items and materials in circulation. The project included a short documentary, Continuum, starring pro-athletes Michelle Parker, Elena Hight, Spencer O’Brien, Lucy Sackbauer, Robin Van Gyn, and Tatum Monod. As a result, ReGear saw a 127% year-over-year increase in product trade-ins. Arc'teryx’s also led the revenue of its parent company, Amer Sports, hitting $918 million in the first six months of 2024 – a 39% year-over-year increase. At Trove, we’re firm believers that branded resale can offer businesses an opportunity to improve their bottom lines, while bettering their carbon footprint. Congratulations to our partners at Arc'teryx for this extraordinary win! To hear more about how ReGear is innovating the company’s resale initiatives, see Jeff Beer’s piece in Fast Company: https://lnkd.in/ecU_ww_J 

📈The holiday shopping season is projected to hit record heights this year, with resale emerging as a key growth driver for brands. In fact, 70% of shoppers said they were open to receiving secondhand gifts during the holiday season. As consumers increasingly seek sustainable shopping options and brands reevaluate how they want to engage with consumers in 2025, now is the perfect moment to start unlocking the resale market’s potential for your business. With Trove’s Shopify Plugin, brands can rapidly unlock the full benefits of branded resale within their current sites in as little as 4 weeks. What can brands expect from day one?  🛍️ Branded shopping: Resale items will appear in collections, merchandised with configurable inventory logic. 👤 Integrated accounts: Customers can view all transactions together while brands can access channel analytics. 🛒 Shared carts and checkouts: Used and new items can be purchased together in one seamless checkout experience.  📊 Branded insights: Trove’s Recommerce WMS provides consistent, on-brand grading and performance tracking, powering data-driven decisions. 🌟 To learn more, visit https://trove.com/ #TroveRecommerce #ResaleInnovation 

Pantone has revealed 2025’s Color of the Year, Mocha Mousse, a warming rich brown hue offering qualities of cacao, chocolate and coffee, and appealing to consumers’ desire for comfort. For shoppers looking to draw inspiration and creativity next year with this shade in mind, now’s the time to consider how the secondhand fashion industry can offer a more sustainable purchasing choice. For consumers looking to add this shade of brown to their personal style, we recommend keeping in mind the following:  🤎 Build your capsule wardrobe: With this year’s color selection being a soft, neutral tone, avoid overconsumption by choosing items that have a timeless look beyond 2025. 🤎 Embrace your existing style: A new trend doesn’t need to equate to changing your overall look. Investing in quality pieces or shopping secondhand for unique items offers fun alternatives for your current style at a more affordable price.  🤎 Find inspiration at your trusted retailers: Whether you’re looking for a brown carry-on bag at BÉIS, boots from Steve Madden, or activewear from On, Trove’s partners offer a range of styles for those looking to shop resale aligning with this color trend. While Pantone’s annual color choice can be a fun form of expression, this also presents an opportunity for participating consumers to shop intentionally.  #TroveRecommerce #TroveInnovation #SustainableFashion #FashionTrends

Struggling to find the perfect last-minute gift? With resale shopping's growing popularity, secondhand items are becoming an excellent gifting choice. According to OfferUp’s 2024 Recommerce Report, 74% of shoppers consider secondhand gifts more acceptable than last year, a 7% increase from 2023. Additionally, 83% would welcome a secondhand item as a gift. Looking for secondhand gift inspiration? Consider these partner recommendations: 🎁 Fashion Enthusiasts: Levi Strauss & Co. ensures they’ve got the best quality jeans, with a pair of shoes from Dolce Vita or Steve Madden to match.  🎁 Fitness Buffs: Workout gear from Brooks Running and On will make it easier for them to get up for a morning run.  🎁 Outdoor Adventurers: REI and Arc'teryx Equipment can make sure they’re prepared to take on the great outdoors.  🎁 Frequent Travelers: BÉIS luggage for reliable, quality travel gear. Interested in seeing what other companies we partner with to support their branded resale needs? Visit https://lnkd.in/gCYMDMtk #TroveRecommerce #TroveInnovation #SustainableFashion #HolidayGifting

The holiday season brings joy, connection… and returns. In 2024, $148 billion worth of merchandise was returned post-holiday, leaving brands with logistical challenges and surplus inventory. 🎁 Resale can turn those returns into a holiday win. Here’s how to make the most of them: 🎅 Anticipate the rush. Don’t let returns derail your operations, carve out space and staff specifically for resale items so you’re ready when the flood hits. 🎅 Automate the chaos. Take the manual grind out of returns. Use automation to quickly sort, grade, and route items to the best resale channels. 🎅 Flip returns into wins. Turn returns into relationship builders. Offer credits or incentives and show customers how they’re contributing to sustainability. It’s a win-win. With the right strategy, holiday returns can bring value long after the season ends. Get more tips and insights in our recent blog post: https://lnkd.in/dRZ2MdN7 #TroveRecommerce #HolidayReturns #CircularEconomy

The holiday season is kicking off, and retailers are expecting online traffic to reach record-breaking numbers this Black Friday weekend. According to Adobe Analytics, shoppers spent $9.8 billion leading up to Black Friday in 2023 alone. As brands compete to drive customer loyalty and sales, launching a branded resale program with Trove’s Peer-to-Peer (P2P) solution can offer a strategic advantage. Here’s what you can achieve In as little as 4 weeks with on Trove’s P2P feature:  🛒 Customers can list items for sale, either from their account history or direct search. 🛒 Listings are automatically connected to product data for on-brand browsing, allowing shoppers to browse a fully branded site.  🛒 Sellers can access full automated guidance throughout, from pricing to photos to order fulfillment. The results speak for themselves: Trove’s partners have seen 40-60% of resale customers being new-to-brand. Ready to learn more? Visit https://trove.com/ or message us on LinkedIn for more information. #TroveRecommerce  #ResaleInnovation

It’s that time of year again. While shopping moments like Black Friday and Cyber Monday have become associated with deep discounts, these retail holidays often encourage overconsumption, with many purchases ultimately ending up in landfills. Whether you’re planning to treat yourself or shop for others, Trove encourages you to take a more sustainable approach this year, whether that’s shopping at secondhand marketplaces or branded resale sites. In fact, nearly 60% of consumers report that they’re considering giving a used item as a gift, and around 70% say they’d be happy to receive one. For customers interested in this alternative or brands looking for inspiration to improve their circularity goals, Trove partner REI’s annual Black Friday tradition, “Opt Outside”, sets a simple, but powerful example. Since 2015, the outdoor retailer has shut its doors on the busiest shopping day of the year and invited everyone to spend time outside instead. What started as a way to improve their employee experience has since prompted many other retailers to rethink their approach to the holiday shopping season. At Trove, we’re proud to support impactful initiatives one step at a time. Read more about how our partners like REI are imagining a more circular economy through branded resale at: https://lnkd.in/epSwSf9T #TrovePartner #HolidayResale #CircularFashion