Recommerce, or resale, is the selling of previously used goods. Recommerce is ultimately about honoring the quality of a product and giving it as much life as it deserves. There are a number of existing and emerging recommerce models today. These include peer-to-peer marketplaces such as Poshmark or Craigslist, where consumers buy and sell used goods, managed marketplaces, such as eBay or The RealReal, consignment and thrift websites and stores, or the white label offering Trove provides that allow brands to own their own end-to-end, branded resale channel.
I very much think of recommerce as the third channel that complements a brand’s ecommerce and retails channels. Trove has built technology and operations that allows brands to take control of this third channel and own their resale market. Specifically, we enable brands to resell secondhand products and take back items from their customers’ closets (and garages) while maintaining and enhancing their brand equity.
Today we do this with some of the best brands in the world, including Patagonia, REI, lululemon, Artc’teryx, Levi’s, and Eileen Fisher, amongst others. We have proven that brands who build a resale channel will drive incremental sales, acquire new customers, deepen customer loyalty and build meaningful sustainability credit. Our model is very much rooted in building a more sustainable retail ecosystem. I deeply believe that recommerce is as close to business nirvana as a model can get; it allows a business to drive more revenue and profit while mitigating their impact on the earth.