How Companies Like American Eagle Are Innovating Through Resale
Retail Remix
· with Anthony Marino
· July 10, 2023
· 24 min
Summary
The resale market is booming, projected to hit $70 billion by 2027, growing 9X faster than traditional retail. This episode reveals how brands like American Eagle leverage partnerships with platforms like thredUP to tap into this growth, appealing to Gen Z consumers demanding eco-friendly options. Learn how to integrate resale seamlessly into your brand via a "phygital" approach and overcome implementation challenges to capitalize on this significant retail evolution.
Key takeaways
Understand that the resale market is expanding 9x faster than traditional retail and will be a $70B market by 2027, driven by Gen Z's demand for sustainable and eco-friendly options.
Explore Resale-as-a-Service (RaaS) partnerships (e.g., with thredUP) to overcome logistical hurdles and integrate resale without building extensive infrastructure internally.
Adopt a 'phygital' strategy to seamlessly blend online and offline resale experiences, such as integrating resale programs into existing apps like Snapchat to engage younger demographics.
Ensure your resale program reflects and enhances your brand's DNA, aligning with customer preferences for authenticity and sustainability.
Recognize that resale extends customer lifetime value and strengthens brand loyalty by offering more touchpoints and catering to evolving consumer values.
ThredUP's annual resale report predicts that the U.S. resale market will reach $70 billion by 2027, outpacing the growth of traditional retail by 9X. Why? Because consumers, especially Gen Z, are looking to make smarter, more eco-friendly buying decisions. Brands like American Eagle are tapping into this growing market by partnering with thredUP to offer innovative programs through apps like Snapchat that appeal to their young, digital-savvy customers. These initiatives reflect the brand's DNA and cater to their customer's preferences, a trend that thredUP believes more brands will embrace in the near future.During this episode of Retail Remix, our host Alicia Esposito talks with Anthony Marino, President of thredUP, about the evolution of the resale market and how retailers are taking a “phygital” approach to tie the entire shopping experience together. Listen in to learn about: The universal challenges companies face bringing resale to market;Ways to integrate resale into the broader customer experience and innovate through new experiences; andHow resale can coexist with the brand through the help of partners like thredUP.RELATED LINKSConnect with Anthony here!Browse thredUP’s latest products.Learn more about thredUP's Resale-as-a-Service offering.Check out thredUP’s annual resale report.Learn more about resale trends at Retail TouchPoints.]]>
Frequently asked about this episode
What does this episode say about retail & omnichannel?
Understand that the resale market is expanding 9x faster than traditional retail and will be a $70B market by 2027, driven by Gen Z's demand for sustainable and eco-friendly options.
What does this episode say about brand & content?
Explore Resale-as-a-Service (RaaS) partnerships (e.g., with thredUP) to overcome logistical hurdles and integrate resale without building extensive infrastructure internally.
What does this episode say about supply chain & operations?
Adopt a 'phygital' strategy to seamlessly blend online and offline resale experiences, such as integrating resale programs into existing apps like Snapchat to engage younger demographics.
What does this episode say about customer retention?
Ensure your resale program reflects and enhances your brand's DNA, aligning with customer preferences for authenticity and sustainability.
What does this episode say about retail & omnichannel?
Recognize that resale extends customer lifetime value and strengthens brand loyalty by offering more touchpoints and catering to evolving consumer values.
