Recommerce platform provider Trove says its technology is currently in use in 700 brick-and-mortar stores nationwide.

According to the company, Arc’teryx, Eileen Fisher, Levi Strauss & Co., Lululemon, Patagonia and REI “are among our Trove brand partners, offering customers a convenient way to trade-in their infrequently-loved items in stores across the U.S. It offers.”

Citing data from Statista, Trove said the global resale apparel market reached $96 billion last year and is expected to grow to $218 billion by 2026. By nearly doubling business in 2022, year-to-date orders through July increased by 59% compared to the same period last year,” the company said.

Trove also said its customer roster “has grown by more than a third year-over-year, with both Lululemon and REI partnering with Trove in 2022 to expand their in-store resale programs.” Trove said Lululemon piloted an in-store trade-in program in California and Texas before expanding it to more than 390 of his stores nationwide earlier this year. Trove is now ramping up in-store trade-ins at over 170 of his REI stores nationwide. ”

Gail Tate, CEO of Trobe, said in a statement that the recommerce market is “the fastest growing retail segment driven by consumer desire for more sustainable and affordable shopping options. There are important benefits for brands that offer trade-ins.

“The in-store trade-in program enables brands to engage with their customers in real time, creating significant long-term loyalty and lifetime value. prolong the cycle.”

Trove said its platform is helping move the needle when it comes to reducing emissions. “By extending the life of millions of products, Trove is accelerating the transition into a new era of commerce that is critical to a more sustainable future.” Emissions compared to the same period last year. “

Trove uses a 60% replacement rate to calculate carbon savings. It is a “widely accepted industry standard that refers to the rate at which used purchases are directly replaced with new purchases to offset the carbon footprint associated with the production of new products.”


Source link


Submit a Comment

Your email address will not be published. Required fields are marked *