The Company Helping Major Retailers Become Major Re-Sellers
National Retail Federation | February 4, 2021
Trove provides resale for leading global brands, including Levi’s, Patagonia and REI. Providing the technology for brands, Trove receives items back from customers, prepares, and re-sells them to the next owner. Andy Ruben, founder and CEO of Trove, gives insight to this model of "re-commerce."
Re-commerce not only attracts consumers back to retailers, but saves consumers serious money and helps protect the environment. It’s a $32 billion market that’s going to reach $64 billion, according to Global Insight.
Say you bring a Patagonia item back to a Patagonia store. When you hand it over, you receive a Patagonia gift card for about half the resale price (~30% of the original price). A brand is making an average of 30 percent net on the overall program with hundreds of thousands of items resold.
It's about retail sustainability. At the end of the day, we produce 100 billion items every year for 7 billion human beings. Re-commerce is part of the solution.