Morning Brew - ☕ Resold on resale

Retailers are still in on resale, even as growth slows.
July 06, 2023

Retail Brew

Happy Thursday. It is, as you know, National Kissing Day, so don’t leave home without the Altoids.

In today’s edition:

—Andrew Adam Newman, Erik Wander

RESALE

Mid-year check-in: Resale

A woman photographs a pink shirt on her iPhone. Kathrin Ziegler/Getty Images

This week, we’re visiting topics for which we typically write end-of-year wrap-ups or beginning-of-the-year predictions. Since it’s mid-year, we’re looking back and looking forward.

The growth of resale has been so dramatic in the last few years that it may seem impossible to overstate. Exhibit 1: ThredUp’s The Recommerce 100 list of the brands whose resale shops have the most listings:

  • Among the top 100 resale programs, 52 launched in 2022, according to a list updated in May.
  • Another 21 of the top 100 resale programs launched so far in 2023 (as of May).

But a recent article in Bloomberg suggests that overstating the impact of resale may be exactly what industry and media observers have been doing. “But here’s the rub,” declared the article’s lede. “So far, even savvy brands such as Patagonia or Shein haven’t figured out how to make secondhand selling account for more than a tiny fraction of their profits.”

Andy Ruben, founder and executive chairman of Trove—which developed resale programs for brands including Levi’s, Patagonia, and Allbirds—told Bloomberg that among Trove’s clients, resale only accounts for between 1% and 5% of their revenue.

Early innings: Karin Dillie, VP of partnerships, sales, and success at Recurate, a tech startup that helps brands launch resale programs, thinks it’s premature to expect resale programs to have high volumes and profits.

“It feels like...jumping to conclusions when you’re in the first inning,” Dillie told Retail Brew. “We haven’t even actually had the time or ability to scale out and see what the longer-term implications are.”

Keep reading here.—AAN

     

FROM THE CREW

Retail pros brand updates

The Crew

Remember when Dunkin’ was “Dunkin’ Donuts”? Even with a new identity, coffee lovers can still spot the beloved establishment from a mile away. From football teams to pancake mixes, a lot of household names have opted for new monikers over the past few years.

Whether branding has been tweaked or scrapped completely, learn why top companies have decided to change outdated or offensive logos and names. Also, find out how big names maintain brand recognition through visual design cues and placing value on a strong customer relationship. Read the story from Marketing Brew.

MARKETING

Can’t Harley wait

A Harley-Davidson motorcycle parked at a dealership. Brandon Bell/Getty Images

After we ran our story in April about sonic branding, and listed six brands that have made the most of the way they sound, our ears were all perked up. And what we heard, to our chagrin, was that we neglected to mention a big one.

“How could they miss Harley Davidson?” John Petillo asked on LinkedIn.

How indeed.

The motorcycle brand describes the sound that its V-twin engine makes as “potato-potato-potato.” And the sound is so recognizable and so central to the brand identity that in 1994, Harley Davidson applied to have it trademarked.

After six years of a veritable biker rally of other brands—including Yamaha, Honda, and Kawasaki—opposing the trademark application, Harley Davidson withdrew the application in 2000.

But, like its bike, Harley didn’t just ride off quietly.

Keep reading here.—AAN

     

TOGETHER WITH ATTEST

Attest

No more channel surfing. Feeling adrift in the wild seas of retail marketing? Don’t fret—it’s an ever-evolving space, from TV comebacks to social media trends. Luckily for you, Attest can help. Their 2023 US Media Consumption report offers data + insights from 1,000 US consumers. Start crushing your media game.

SWAPPING SKUS

Some of our favorite recent retail reads from our sibling Brews.

Take a walk: As part of an effort to reduce carbon emissions, Walmart brought on an SVP-level exec to change how employees commute to work. (HR Brew)

Weird out: How Good Weird used a “hybridized approach that’s truly genderless for beauty” to reach Gen Z. (Marketing Brew)

Milk it: The group behind the “Got Milk?” ads got itself in legal trouble for attempting to satirize plant-based beverages. (Morning Brew)

Dashing: Information overload? Not when you’re using dashboards. Our upcoming Business Dashboards course can help you build dashboards that keep you and your team focused on the right stuff. Sign up now.

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Written by Andrew Adam Newman and Erik Wander

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