The Future of Retail<\/em><\/h3>\nThe rise of resale across the retail industry is hard to ignore these days. According to one\u00a0industry report<\/a>, online resale in the apparel category is growing 24x faster than traditional retail\u2014with an expected market of $41 billion by 2022. It would be natural for brands to view resale as a threat and want to wish it away. All signs, however, indicate that resale isn\u2019t going away anytime soon.<\/p>\n <\/p>\n
\u201cBRANDS HARNESSING THE POWER OF RESALE COMMUNITIES HAVE FOUND A STRONG SECONDARY MARKET ACTUALLY SUPPORTS THEIR PRIMARY MARKET.\u201d<\/em><\/strong><\/p>\n <\/p>\n
The crazy thing is, resale can be a benefit to brands\u2014if they know how to leverage it. Brands that have taken the leap to harness the power of resale communities have found that a strong secondary market\u00a0supports\u00a0<\/em>their primary market. The founder at\u00a0GroVia<\/a>, one of Kidizen\u2019s first partner brands, explains it succinctly:<\/p>\n\u201cBy being more involved in your brand\u2019s resale communities, you are improving sales because customers are able to sell off the products they no longer need or they are looking to trade out for newer prints, colors, or styles. Customers then use those funds to purchase new products while allowing another family to benefit from their used products\u2026it\u2019s a win-win!\u201d<\/p>\n
Instead of turning a blind eye, we\u2019re seeing more partner brands using resale as a key component of their marketing strategy and getting big results, including:<\/p>\n
\n- Their most loyal and passionate customers coming together to express and amplify their brand love.<\/li>\n
- New customers being adopted into the brand\u2019s tribe, where they receive tips, product reviews, and validation for their purchases.<\/li>\n
- A community where they can demonstrate and promote the quality of their products An increase in lifetime value (LTV) for their customers who participate in resale communities.<\/li>\n<\/ul>\n
If your brand is curious about taking its first steps into what\u00a0designer Stella McCartney<\/a>\u00a0calls the \u201cmake well, buy well, resell\u201d model, there are a handful of ways to get involved.<\/p>\nMake It Easy<\/em><\/h3>\nStart by creating an easy path for customers to resell the items they no longer need; invest in the infrastructure (like Patagonia\u2019s Worn Wear platform<\/a>) or the partnership (like our web portal for kids\u2019 brand\u00a0June & January<\/a>) to reduce barriers.<\/p>\nGive Back With Rewards<\/em><\/h3>\nReward your customer\u2019s participation in resale communities through a loyalty program that grants new store credit for selling used items (we facilitate programming for\u00a0GroVia<\/a>\u00a0and\u00a0June & January<\/a>\u00a0that serves this purpose).<\/p>\nGet Ready to Participate<\/em><\/h3>\nEngage with customers who are already in resale communities, let them know you are there and ready to listen and learn; use it as an opportunity to promote your sustainability efforts ( do this through social brand pages inside the Kidizen marketplace).<\/p>\n
It might seem counterintuitive, but resale is the solution brands need to break through the noise in today\u2019s suffering retail environment. The right approach is an individual choice for each brand, but with the right partner by your side, it can be done. And more than that, it can make a big difference to your bottom line. We look forward to watching these shifts happen and welcome the opportunity to connect with anyone who wants to learn\u2014and\u00a0do\u2014<\/em>more together.<\/p>\n\u2014<\/p>\n
Join me at SB\u201918 Vancouver<\/a>, June 4-7, 2018 in the \u201cPromising Growth Models Based on Innovative Sharing and Cooperation” session<\/a> on Wednesday, June 6, 2018 to learn how innovative brands are achieving sustainable growth by enabling customers to share knowledge, used goods, and even of ownership and control of the enterprise. See you in Vancouver!<\/p>\n
<\/p>\n
\u201cBRANDS HARNESSING THE POWER OF RESALE COMMUNITIES HAVE FOUND A STRONG SECONDARY MARKET ACTUALLY SUPPORTS THEIR PRIMARY MARKET.\u201d<\/em><\/strong><\/p>\n <\/p>\n The crazy thing is, resale can be a benefit to brands\u2014if they know how to leverage it. Brands that have taken the leap to harness the power of resale communities have found that a strong secondary market\u00a0supports\u00a0<\/em>their primary market. The founder at\u00a0GroVia<\/a>, one of Kidizen\u2019s first partner brands, explains it succinctly:<\/p>\n \u201cBy being more involved in your brand\u2019s resale communities, you are improving sales because customers are able to sell off the products they no longer need or they are looking to trade out for newer prints, colors, or styles. Customers then use those funds to purchase new products while allowing another family to benefit from their used products\u2026it\u2019s a win-win!\u201d<\/p>\n Instead of turning a blind eye, we\u2019re seeing more partner brands using resale as a key component of their marketing strategy and getting big results, including:<\/p>\n If your brand is curious about taking its first steps into what\u00a0designer Stella McCartney<\/a>\u00a0calls the \u201cmake well, buy well, resell\u201d model, there are a handful of ways to get involved.<\/p>\n Start by creating an easy path for customers to resell the items they no longer need; invest in the infrastructure (like Patagonia\u2019s Worn Wear platform<\/a>) or the partnership (like our web portal for kids\u2019 brand\u00a0June & January<\/a>) to reduce barriers.<\/p>\n Reward your customer\u2019s participation in resale communities through a loyalty program that grants new store credit for selling used items (we facilitate programming for\u00a0GroVia<\/a>\u00a0and\u00a0June & January<\/a>\u00a0that serves this purpose).<\/p>\n Engage with customers who are already in resale communities, let them know you are there and ready to listen and learn; use it as an opportunity to promote your sustainability efforts ( do this through social brand pages inside the Kidizen marketplace).<\/p>\n It might seem counterintuitive, but resale is the solution brands need to break through the noise in today\u2019s suffering retail environment. The right approach is an individual choice for each brand, but with the right partner by your side, it can be done. And more than that, it can make a big difference to your bottom line. We look forward to watching these shifts happen and welcome the opportunity to connect with anyone who wants to learn\u2014and\u00a0do\u2014<\/em>more together.<\/p>\n \u2014<\/p>\n Join me at SB\u201918 Vancouver<\/a>, June 4-7, 2018 in the \u201cPromising Growth Models Based on Innovative Sharing and Cooperation” session<\/a> on Wednesday, June 6, 2018 to learn how innovative brands are achieving sustainable growth by enabling customers to share knowledge, used goods, and even of ownership and control of the enterprise. See you in Vancouver!<\/p>\n\n
Make It Easy<\/em><\/h3>\n
Give Back With Rewards<\/em><\/h3>\n
Get Ready to Participate<\/em><\/h3>\n
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