![]() ![]() “We’re also seeing just a huge amount of interest and engagement from the industry, which I think is going to help us power those goals.”Īnd it’s not just about sales for Tait. “We’re doubling our business this year, and we very much hope to more than double it next year,” Tait told FN. Looking ahead, Tait is confident in the company’s – and recommerce’s-future. “There was even a recent study from Global Data that showed that 58% of consumers say that secondhand shopping has helped them during a time of inflation.” “Given the many headwinds and challenges consumers are facing right now, like inflation, more people are looking to buy secondhand merchandise,” she said. Through Onward, customers can now send back gently used On gear and receive a $35 credit to spend on their next purchase at Onward or .Īnd according to Tait, more programs like these are likely to pop up in the future. ![]() Consumers are able to shop and trade in pre-owned On footwear, with the program expanding to include apparel in the near future. Last month, Trove launched the “Onward” program with Swiss performance brand On. Following the initial launch, the brand plans to expand the program to additional retail locations nationally. ReRun launched exclusively in the United States at three stores in Los Angeles, Chicago, and New York City – giving consumers the option of trading in their preloved Allbirds shoes for $20 in-store credit. Through the Allbirds ReRun platform, the shoe company now sells slightly imperfect and gently used shoes at reduced price points, starting at $59. In February, Trove teamed up with Allbirds to launch its “ReRun” resale platform. The company said it calculates its carbon savings by using a 60% displacement rate, a widely accepted industry standard that refers to the rate at which a used purchase directly replaces a new purchase and thus offsets the carbon impact associated with producing a brand-new item. ![]() Year to date through July, Trove tallied a 74% reduction in Co2 emissions versus the same period last year. “Everything that we do is about keeping items in use, making sure that our partners and customers can extract value out of items that have already been made, and reduce carbon emissions and an industry which has a lot of work to do,” Tait said.Īnd Trove is doing just that. The company’s technology is now present in 700 brick-and-mortar stores nationwide, Tait said, with Arc’teryx, Eileen Fisher, Levi’s, Lululemon, Patagonia and REI among the brand partners offering customers a way to trade in gently used, preloved items at stores across the U.S. According to Tait, Trove’s technology powers trade-in and resale within a brand’s own ecosystem, giving each brand partner an opportunity to own the experience and engage with new and existing customers. ![]()
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