Helen Stauffer (Emory)’s Post

One of the best articles on resale strategy I’ve read in a while which totally mirrors the approach we’ve had at Sellier from day one. It’s never been about being the biggest. Being disciplined about product and curation is what we strive for and ironically it’s our avoiding “scale” in the traditional sense (and not taking products just because we can) that’s been the biggest driver of growth for us. Of course, there’s no one size fits all approach and so much innovation across the industry that it’s hopefully a matter of time until companies like the RealReal reach profitability. “We now see shoots of profitability among certain resale companies. The strategies of those companies can be summarized with two words, “narrow” and “deep.” They are focused on a very specific set of products they know expertly which reduces authentication costs. They concentrate on efficiency in operations and avoid products they don’t know. They do not spend a lot on marketing to generate growth.” https://lnkd.in/eeiPGT5S

What if I told you that your brand could generate $2 million in resale revenue from a Branded Resale programme in less than a year? Crazy? Read on... That’s exactly what Portland Leather Goods achieved in their first 10 months with Treet. They tapped into their incredible community who were already participating in Peer-to-Peer sales through Buy/Sell/Trade groups on Facebook. Their resale programme brought customers back into their ecosystem, giving pre-loved items a second life and creating a new revenue stream in the process. 💸♻️ In just 10 months: ▶︎ 32,000 listed items with a 56% average sell-through rate. ▶︎ 31,070 lbs diverted from the landfill ▶︎The site attracted 50,000 unique visitors, with 70% being first-time buyers. ▶︎ 375% average spend over credit on their main site Take a deep dive: https://lnkd.in/dN6RnhBU #BrandedResale #Treet #PLGResale #SecondHand

Secondhand marketing still growing - not as aggressively as previously forecasted: "Last year, the company said the worldwide secondhand goods market would reach $350 billion by 2027. In its new report, the resale company lowered its prediction to $324 billion by 2027. The U.S. secondhand market is more on track with last year’s projections: ThredUp in 2023 said the market would grow to $70 billion by 2027, and the latest report estimates that it will reach $69 billion by that year. But that number is down significantly from ThredUp’s 2022 prediction that the U.S. secondhand market would reach $82 billion by 2026." Reporting by Tatiana Walk-Morris for Retail Dive #circularretail #circulareconomy #retailinnovation #reducereuserecycle

Resale has had a bad rap when it comes to profitability. Take ThredUp and The RealReal – both have yet to turn a profit and their share prices have dropped significantly in the past few years. However, a new wave of resale is showing promise. The industry is seeing a shift from companies that offer an encyclopedic range of products and prices to tailored experiences that focus specifically on a small range of products. We're seeing this in branded resale programs for several reasons: 1. Brands can narrow in on their respective resale markets instead of trying to compete in the "department store" style, which creates a personalized touch. 2. Since customers are coming to resale through the brands' channels, buying intent is incredibly high and sell-through rates increase accordingly. 3. When offering store credit for resold items, customers are spending 2-3x the amount when redeeming credit. All of the above leads to better margins for brands and solution providers. Resale can be a profitable business. You just have to make the math work.

In the resale market, there’s a sort of boxers-or-briefs binary. Some brands opt for a peer-to-peer model, like eBay, where resale sites bring sellers and buyers together, with sellers listing, photographing, and shipping the products. Others opt for trade-in programs more like ThredUp, where sellers ship items to brands (or bring them to stores), and the brand warehouses, lists, and ships them, much like new inventory. What brands haven’t done much is take an all-of-the-above approach, letting consumers choose. But that’s beginning to change. Although brands tend to launch with either a trade-in or peer-to-peer model, after getting their sea legs they increasingly add the other option, too. Let’s call it “omniresale.” Great insight here from Treet's Jake Disraeli and Rylee & Cru's Sam Larson. Plus Trove's Terry Boyle, and how Trove's recent acquisition of Recurate informs this.

Exciting to see how Trove continues to elevate the world of resale: “Recurate was an attractive acquisition because the one thing missing from Trove’s previous menu was the peer-to-peer resale option. That’s where the brand doesn’t take physical possession of used merchandise, but supports customers making trades with one another.” #resale #circularfashion #circulareconomy

Our innovators Trove and TERSUS Solutions join forces with Filson to create the brand’s Resale Program — Filson Unfailing! The program launches with an assortment of the brand’s own inventory that is off-season and slightly damaged, with imperfections like small bruises or scratches. With the support of our innovator Trove, Filson’s resale program will launch its customer trade-in offering in the spring. Our innovator TERSUS Solutions helps with the operations of this project, including the check-in, processing, cleaning, repairs, logistics and fulfilment from its warehouse. “They are an original American heritage outfitter and they are making items that have longevity at their very core. So being able to get multiple uses out of the items, for customers to be able to trade in their items, it completely fits with their overall brand positioning and heritage and so it was really because of that that we think they’re a great partner.” — Gayle Tait, CEO of Trove. Read more here: https://lnkd.in/euG7-vRi #sustainability #sustainablefashion #ImpactfulInnovation #collaboration

Resale and secondhand retail have emerged as powerful forces in today's retail landscape. Read more 👉 https://bit.ly/48LIW80 #steffisblogs #BuyingSecondhandItems #ReshapingConsumerBehaviors #LiveSustainably #GrowingTrend #ResaleRetailIndustry #Sale #SecondhandSale #Blog #ResponsibleShoppingHabits #Retail

"The resale market is vast and growing, and that’s why so many retailers are jumping on the bandwagon," says Mark Ryski, Author, CEO & Founder of HeadCount Corporation. "Not only does resale help mitigate the negative climate impact of returns, but resale programs can also help offset some of the costs associated with managing returns of unwanted goods. And while there are benefits to resale, it does creates a whole new set of challenges for retailers, most notably managing this inventory. The goods need to be ingested, inspected, fixed and then re-merchandised and sold. It’s very labor intensive. That all said, I believe the benefits outweigh the cost." Check out more insights from one of the retail industry’s leading experts - https://buff.ly/3qRfPx2. More great comments on this topic by RetailWire's BrainTrust experts including: Neil Saunders, Mark Self, Gene Detroyer, Liza Amlani, Jeff Sward, • Shep Hyken, James Tenser, David Biernbaum, and Oliver Guy 🚀.

As the resale market continues to evolve, brands like COYUCHI are keeping resale as an important part of their strategy to meet consumer demand. Kasi Martin's piece for Sourcing Journal explores the complex world of reverse logistics that powers resale, highlighting our partners at Tersus and Bleckmann. At Trove, we're proud to be part of the transformation of the industry. Our recent acquisition of Recurate strengthens our market leadership by integrating Shopify and peer-to-peer solutions into our enterprise platform. We're doubling down on our commitment to making branded resale more accessible and supporting the launch and scaling of resale programs for all brands. #TroveRecommerce #SustainableRetail #ResaleInnovation #SourcingJournal #ReverseLogistics #CircularEconomy