Athletic apparel brands Lululemon and Patagonia have become the latest retailers to introduce Trove’s recommerce operating system in the US, as the platform provider calls the recommerce market “one of the fastest growing retail segments”.
Arc’teryx, Eileen Fisher and Levi’s have also deployed the technology enabling customers to trade in items in store, as shoppers look for more sustainable and affordable options.
“In-store trade-in programmes enable brands to deepen their relationships with customers in real time and drive significant loyalty and lifetime value over the longer term,” said Gayle Tait, CEO of Trove.
“We’re extremely proud to support our growing roster of brand partners as they scale their recommerce operations through convenient in-store trade-in and extend the lifecycle of their products.”
Trove’s technology is now available in 700 bricks-and-mortar stores across the US, with Lululemon piloting its in-store secondhand programme in California and Texas before expanding it to more than 390 stores earlier this year.
Shoppers can trade in their gently used leggings, tops and jackets for store merchandise or gift cards. They can also buy from a selection of “Like New” items on a separate page on the retailer’s website, with more items added daily.
While, Recreational Equipment Inc (REI) reported that its recommerce business grew by 86% year-over-year in 2021 with Trove powering in-store trade-in at more than 170 REI stores.
Furthermore, Trove quoted data from Statista to stress that the global resale apparel market reached US$96 billion last year and is estimated to grow to US$218 billion by 2026.
“With eco-consciousness and consumer price inflation continuing to drive demand for circular shopping options, Trove is on track to nearly double its business in 2022 and has increased the number of orders it has fulfilled by 59% year to date through July versus the same period last year,” the company added.