Commerce Conversations

Powering the ReCommerce Revolution with Andy Ruben (Trove)

Episode Summary

Andy Ruben is the founder and executive chairman of Trove, the company powering reCommerce programs for major brands like Lululemon and REI. The data is stunning on the consumer preference for second hand gear, especially with millennials and Gen Z bias to sustainability. But in an era of Shein and TikTok trends does second hand really stand a chance? Matt and Andy discuss why brands are finally getting in on this trend and what the future looks like.

Episode Notes

Episode Highlights:

Andy and Matt talk about the shift in thinking that Millennials and Gen Z’s catalyze in regards to sustainability and buying preferences
Like all of the big name innovators in the space like Rent the Runway and ThredUp, Trove started as a peer-to-peer model but the team realized early on that the way resale best played out for clothing was actually more akin to buying a certified pre-owned vehicle – bring control back to the brand.
The only way to create a really elegant experience is by creating a manager marketplace not a peer-to-peer one
Thrifting is come into its own in a huge way, and legacy retailers don’t understand that because their traditional leadership may still hold old notions of how thrift is perceived
The way to make reCommerce successful is by making it invisible and right alongside buying new fashion
There's a culture contradiction going on too – the rise of Shein and other fast fashion platforms seem like they are in direct violation of the sustainable preferences that we are seeing with younger generations. In Andy’s perspective, premium brands are able to compete on a price basis by integrating reCommerce and as such the middle market and those throwaway retailers will feel the pressure especially as social stigma grows.

About the Guest:

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