Q4 Updates: Strategies to Leverage the Secondhand Market with Zoe Rowswell, Tern Eco (episode 221)
by Chloe ThomasZoe Rowswell is the co-founder of Tern Eco, and has some amazing Fashion eCommerce credentials. Zoe was Director of eCommerce for Urban Outfitters, Global Director of eCommerce and Omnichannel at Jimmy Choo, AND rose from assistant merchandiser to Head of Online Trading during 14 years at TopShop.
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Dive in:
[05:19] eCommerce experts launch sustainable retail consultancy in 2019.
[08:26] Excitement about growing business in recommerce industry.
[11:37] EU-driven legislation will impact trade and sustainability.
[14:59] 60% of population willing to buy secondhand.
[18:21] SME retailers agile, innovative, capable, and profitable.
[20:22] Real-world product wear and tear data. Feedback for durable, repairable products.
[24:33] Innovating business models for customer engagement.
[25:49] Insider Tips from Zoe!
The Secondhand Market is a Growing Force
The secondhand market is rapidly expanding. Brands can no longer ignore this trend as it directly impacts their business. Customers are increasingly seeking sustainable options, and the secondhand market offers a viable alternative. By embracing this trend, brands can tap into a new customer base and contribute to a more sustainable future.
Owning the Secondhand Experience is Crucial
While platforms like eBay and Depop have made secondhand shopping accessible, brands can gain significant advantages by owning the experience themselves. This includes controlling quality, pricing, and the overall brand experience. By doing so, brands can ensure that their products are represented accurately and that customers have a positive experience, potentially leading to increased loyalty and repeat purchases.
Data is a Valuable Asset
The data in the secondhand market is important. By tracking customer behavior, product performance, and return rates, brands can gain valuable insights into their customers’ preferences and identify areas for improvement. This data can be used to inform product design, manufacturing processes, and marketing strategies, ultimately leading to more sustainable and profitable business practices.
Listen to hear Zoe’s Insider Tips on sustainable retail!
Interview links
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