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Products-Trove

Empowering Brands with Trove's Resale Solutions: A Year in Review 2024

Modularity & Scaling

In 2024, Trove has witnessed brands embracing modularity and scaling by customizing resale program modules to align with their commercial and sustainability objectives. Recognizing the absence of a one-size-fits-all approach, brands are now leveraging a flexible bundle of program components to drive growth. This shift allows brands to mix and match various program elements, optimizing for speed-to-market while enhancing customer experiences. By methodically testing and iterating their way to scale, brands can identify the program components that yield the most value for their brand and customers. Trove's comprehensive programs span across stores, shopping sites, and recommerce operations, catering to diverse industry use cases. Whether piloting quickly, scaling reliably, or optimizing program mix, brands can rely on Trove's expertise to maximize impact.

Operations Anywhere

One of Trove's key offerings in 2024 is the Recommerce WMS, enabling brands to centralize their resale operations with ease. With the launch of the Trove Recommerce WMS, brands gain enhanced flexibility by deploying resale operations within any facility. This SaaS-based suite covers the entire spectrum of resale operations, facilitating seamless processing and condition-grading of used items. Leveraging Trove's advanced resale algorithms and rules engine, brands can efficiently route items to their optimal selling or disposition channels. Whether running resale operations internally or through third-party logistics providers, brands can streamline operations and enhance efficiency with Trove's innovative solutions.

Trove & Recurate

The strategic acquisition of Recurate in 2024 has expanded Trove's offerings, introducing peer-to-peer resale options for brands. By integrating Recurate's capabilities into its platform, Trove has created new opportunities for brands to initiate and expand their resale programs. This acquisition has not only added pioneering brands to Trove's portfolio but has also infused fresh perspectives and expertise into the Trove team. Brands can now leverage Trove & Recurate's synergies to launch innovative resale initiatives, cater to evolving consumer demands, and drive sustainable business growth.

The Resale Plugin

Trove's groundbreaking Resale Plugin, unveiled in Fall 2024, has redefined ecommerce capabilities by seamlessly integrating used and new items on any platform. This industry-first plugin empowers brands to effortlessly merchandise both new and pre-owned items without platform restrictions. By demonstrating how brands can effectively combine used and new inventory, Trove's Resale Plugin showcases the power of innovative technologies in reshaping ecommerce experiences. Brands seeking to enhance their ecommerce offerings and provide customers with a diverse range of products can benefit from the unique functionalities of Trove's Resale Plugin.

The Promotion Boom

Throughout 2024, Trove witnessed a surge in creative promotional activities that drove remarkable results for brands within the resale industry. Brands leveraging Trove's platform engaged in dynamic cross-channel activations, capturing consumer attention and boosting brand visibility. From homepage takeovers to influencer collaborations, trade-in bonuses to Black Friday deals, brands explored diverse promotional strategies to enhance their resale impact. By implementing innovative and engaging promotions, brands could effectively attract new customers, drive conversions, and strengthen their brand presence in a competitive market landscape.

Channel Expansion

Trove's focus on channel expansion in 2024 has enabled brands to diversify their selling channels, reaching a wider consumer base and maximizing engagement opportunities. With the integration of marketplace selling capabilities, Trove's platform now supports seamless supply-demand matching across multiple supply sources and disposition channels. This expansion empowers brands to tap into new customer segments, enhance unit economics, and drive revenue growth by leveraging a versatile and scalable platform. By broadening their selling channels, brands can amplify their market reach, establish stronger connections with consumers, and drive continued business growth.

Site Performance Upgrades

While flashy launches garner attention, Trove's focus on site performance upgrades in 2024 has significantly enhanced conversion rates and program economics for brands. Through the introduction of new features and algorithms, Trove has bolstered site performance, leading to a notable boost in conversion rates. Noteworthy upgrades such as item ranking enhancements and active pricing algorithms leverage machine learning and supply-demand signals to optimize GMV and drive revenue growth. These performance upgrades, though subtle, play a pivotal role in driving day-to-day impact for brands, ensuring sustained growth and operational efficiency within the resale landscape.

Regulatory Momentum

In response to evolving regulations emphasizing sustainability and responsible retail practices, Trove has actively supported brands in navigating regulatory changes in 2024. Legislation such as California's SB-707 and New York's 'Fashion Act' have placed a greater emphasis on resale, repair, and recycling within the fashion industry. Trove's commitment to helping brands comply with regulatory requirements and adopt sustainable practices is evident through ongoing consultations and support services. By staying ahead of the regulatory curve and aligning operations with emerging standards, Trove empowers brands to embrace sustainability, reduce regulatory risks, and drive positive environmental impact.

Looking Ahead to 2025

As Trove concludes a dynamic year of innovations and achievements in 2024, the anticipation for an even more impactful year in 2025 is palpable. With a range of new launches and features on the horizon, Trove is poised to lead brands towards greater success and sustainability in the resale industry. By fostering collaboration, leveraging technology advancements, and anticipating market trends, Trove remains committed to empowering brands with progressive resale solutions that drive growth, enhance customer experiences, and shape the future of sustainable retail. As brands gear up for the challenges and opportunities of 2025, Trove stands as a trusted partner, offering unparalleled expertise and support for navigating the evolving landscape of resale commerce.

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Revolutionizing Retail: Trove's Integrated Used and New Commerce Solutions

Elevating Brand Resale Sites

Trove's integrated used and new commerce solutions offer a unique opportunity for brands to create dedicated resale experiences that not only grow revenue but also attract new customers and boost customer lifetime value (LTV). By selling returned inventory and customer trade-ins within a fully branded, catalog-powered experience, brands can ensure a seamless customer journey that emphasizes their brand narrative and increases brand loyalty. Trove's high-converting components and dynamic pricing algorithm drive sell-through without sacrificing profitability, allowing brands to strengthen their brand story through storytelling across the resale journey.

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Maximizing Revenue and Customer Engagement with Trove's Recommerce Solutions

Drive Revenue Growth and Profitability

Trove's recommerce solutions offer modular, high-engagement shopping experiences that contribute to revenue growth and increased profitability. By implementing Trove's branded resale sites, businesses can sell returned inventory and customer trade-ins while maintaining a fully branded customer experience. This approach not only enhances revenue streams but also attracts new customers and boosts the lifetime value (LTV) of existing ones.

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Empowering Profitable Resale with Trove Recommerce WMS

Maximizing Returns Processing Efficiency

Trove Recommerce WMS offers a comprehensive solution to maximize the financial yield from returns by efficiently routing and grading items as they arrive. With a rule-based approach, items are quickly and objectively condition-graded at scale, ensuring consistent attributes that meet customer expectations. Every item is assigned a unique SKU based on quality grade and specific product description attributes, allowing for optimized merchandising, pricing, and a great customer experience.

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Unlock Profitable Resale with Trove Recommerce WMS

Maximize Financial Yield from Returns

Trove Recommerce WMS allows you to maximize the financial yield from returns by efficiently routing and grading items as they arrive. This process ensures that resale items, which typically make up 10-20% of returns, can be quickly graded, priced, and sold, maximizing margin and reducing operating costs.

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Trove Recommerce Solutions: Revolutionizing Retail with Branded Resale Sites and Trade-In Experiences

Branded Resale Sites

Trove offers a unique solution for businesses looking to create a branded resale experience that not only grows revenue but also attracts new customers and boosts customer lifetime value (LTV). By utilizing Trove's platform, companies can sell returned inventory and customer trade-ins within a fully branded, catalog-powered experience that covers the entire customer journey. This approach helps in strengthening the brand story by emphasizing dynamic, discovery-oriented components that align with the brand's narrative. Moreover, Trove's high-converting components and inventory feeds showcase the best products from the assortment, while the dynamic pricing algorithm drives sell-through without compromising on profitability. Additionally, companies can accelerate their time to market by going from project kickoff to site launch in a quarter or less with Trove leading the site build and integrating the brand elements and inventory data.

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