"Enables brand resale through recommerce logistics technology."
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Updated 3 Days Ago
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3 Advocates
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2 Verified Clients
Nutshell
Trove facilitates the process for brands to manage resale and trade-in programs seamlessly. Their platform supports online and in-store resale initiatives and includes comprehensive logistics, pricing intelligence, and integration with existing commerce systems, allowing brands to offer resold items without the usual friction, helping them tap into new revenue streams and sustainability goals.
In Detail
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Trove's Website Claims...
A summary of the claims made on Trove's website as noticed by our bot, Vinny.
Profitable Circularity Leader
Trove claims that their platform has been powering profitable circularity solutions for over a decade, making them leaders in the industry.
Decarbonizing Fashion Innovator
Trove claims that their recommerce solutions significantly decarbonize the fashion industry, supporting brands in sustainability.
Global Resale Impact
Trove claims that their omnichannel solutions put scalable recommerce within reach for brands across North America, the UK, and Europe.
Case Studies
Trove boosts resale value sustainably for brands' growth.
1M+
Pre-loved items sold in 2021
107%
Increase in customer lifetime value
Situation
Trove Enhances Resale Strategies.
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Supports integration of circular models.
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Offers comprehensive resale strategies.
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Certified sustainable and secure partner.
Trove Recommerce Solutions provides innovative support to companies aiming to integrate circular business models, offering comprehensive guides and case studies demonstrating best practices in brand resale. Through services such as branded resale sites, trade-in options, marketplace selling, and recommerce operations, Trove creates value by reducing environmental impact while boosting performance metrics like trade-ins and customer engagement. Their efforts are especially illustrated through partnerships with companies such as Carhartt and Frye, which have expanded their reach and improved customer lifetime value. Moreover, Trove's practices are validated by their B Corporation certification and annual SOC 2 Type II audits, showcasing their commitment to sustainability and security.
Task
Building Successful Recommerce Models.
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Develop omnichannel resale strategies.
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Extend product lifespan, enhance brand.
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Boost customer loyalty and value.
Trove's task is to help brands like Carhartt and Frye develop and execute omnichannel resale strategies that extend the lifespan of their products while enhancing brand value. The objective involves creating seamless experiences across digital and physical platforms through trade-in programs and resale marketplaces, enabling brands to tap into the growing market for pre-loved items. By prioritizing sustainability and reducing environmental impact, Trove also aims to boost brand loyalty and increase customer lifetime value. This approach not only caters to environmentally-conscious consumers but also provides measurable business growth and market penetration, with brands seeing significant growth in trade-ins and sales volume.
Action
Executing Comprehensive Resale Plans.
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Launched marketplaces and trade-in programs.
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Tailored operations to brand identities.
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Integrated systems for seamless transactions.
Trove executed its strategy by launching integrated resale marketplaces and trade-in programs such as Carhartt’s nationwide expansion and Frye’s resale reinforcement. They implemented digital and store trade-in systems, ensuring easy redundancies across both physical stores and online platforms. By collaborating closely with companies, they tailored recommerce operations to fit each brand's unique identity and customer base while maintaining flexibility for ongoing adaptation and growth. These actions included employing pricing intelligence and routing automation to streamline operations and enhance profitability. Additionally, collaborating with partners like REI, Trove integrated advanced systems to keep transactions seamless and sustainable, meeting the brands' ecological goals.
Result
Growth and Sustainability Achieved.
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107% increase in customer value.
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1M+ pre-loved items sold.
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Doubling of trade-ins YoY.
As a result of Trove’s comprehensive resale strategies, brands like Clare V. reported a 107% increase in customer lifetime value and sold over 1 million pre-loved items in 2021. Additionally, more than 400 stores now offer point-of-sale trade-in, and trade-ins have doubled year-over-year, showcasing the effectiveness of Trove's initiatives in driving substantial market growth. These results not only demonstrate financial success but also highlight the effective implementation of sustainability goals, with over 80% of online inventory selling within a week. Such outcomes underscore the role of Trove in transforming brand approaches through recommerce, illustrating a successful fusion of profitability with environmental responsibility.
Keywords
RECOMMERCE SOLUTIONS
BRAND RESALE STRATEGIES
OMNICHANNEL TRADE-INS
CIRCULAR BUSINESS MODELS
SUSTAINABILITY IN FASHION
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