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e-commerce Editor's pick Retail sustainability

3 ways brands are experimenting with the resale market

From partnering with resale websites to facilitating consignment selling, brands are increasingly exploring ways to be more involved with their products as they continue through their lifecycles.

Part exercise in brand control and part push for more sustainable consumer habits, the move is of course also an enormous opportunity for extended revenue streams.

The secondhand market is projected to double in value over the next five years, skyrocketing from $24bn to $51bn, according to a report from resale site, thredUP.

We’re also seeing heavy investment in the resale space as a result. Foot Locker just put in $100m into GOAT, while Farfetch recently acquired Stadium Goods for $250 million. There’s also a round of funding coming up for sneaker marketplace StockX, which will turn the company into the first sneaker reseller valued at $1bn, according to Recode.

Here are three ways brands are otherwise experimenting with and promoting the resale market:

1. PARTNERING WITH RESALE WEBSITES

Starting this April, & Other Stories started selling pre-owned garments. The project was created in partnership with second-hand platform Sellpy, which manages and operates its sales. When clicking on the new “pre-loved” section on the & Other Stories’ website, clients are redirected to sellpy.se. For now, the service is only available in Sweden.

“We’re exploring different ideas on how our long-lasting designs can find their way to new owners. With that in mind, we decided to do a small second-hand test project with Sellpy,” explained Sanna Lindberg, managing director of & Other Stories.

Stella McCartney made history last year as the first luxury brand to promote the consignment of its products on The RealReal. Anyone selling Stella McCartney products on the platform receives a $100 voucher valid at any of the brand’s stores or via its website.

2. DRIVING RESALE SELLING AND BUYING THROUGH STORES

Neiman Marcus recently invested in Fashionphile, a high-end consignment boutique. It has plans to have Fashionphile drop-off locations inside select stores, allowing shoppers to get paid right away for their pre-owned items. For now, Fashionphile is offering an increased buyout price for those who opt to receive payment as a credit at Neiman Marcus.

Meanwhile, just last month, Galeries Lafayette introduced a second-hand fashion platform called Le Good Dressing, which combines online shopping with an in-store experience. Vendors on the site sell products and then drop them off in the store, where buyers can come in to get their purchases – with no commission charged.  Sellers also receive a voucher that can be redeemed at any Galeries Lafayette store or its online shop. Attracting both buyers and sellers into the store, this initiative translates into a host of new sales opportunities.

Added to the list is the new Levi’s flagship in New York City’s Times Square, which has a section dedicated to selling pre-owned garments. Here, it’s possible to find not only newer styles, but also refurbished items from past decades, going as far back as the 1930s and 1940s.

3. FACILITATING THE CONSIGNMENT ITSELF

West coast brand, Reformation, is the first brand to partner with resale website thredUp on a project called UPcycle. When customers shop on the Reformation website throughout May 2019, they all automatically receive an UPcycle kit in their orders. These kits enable customers to shop the clothes they want to consign to thredUP, taking away the hassle of sorting out the inventory to do so.

But that’s not all, when a customer decides to consign any product from any brand via thredUp, they also have the option to get paid with a gift card for Reformation. This is a way to create more circularity, while also promoting Reformation’s brand. ThredUp expects to establish similar partnerships with 10 more companies this year.

How are you thinking about retail innovation? We’re all about finding you the perfect partners to do so. The Current Global is a consultancy transforming how fashion, beauty and consumer retail brands intersect with technology. We deliver innovative integrations and experiences, powered by a network of top technologies and startups. Get in touch to learn more. 

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business product social media Uncategorized

Instagram launches shopping on Stories and Explore features

Shoppable Instagram Stories
Shoppable Instagram Stories

Instagram now enables users to shop when browsing Stories or the Explore features on the platform. Launching on Monday (September 17), these will roll out globally throughout the few next weeks.

When browsing the Explore section, which suggests images and topics to follow based on the user’s behavior on the platform, users will see a new curated selection called “Shopping”. This selection will showcase shoppable product posts curated for the user based on which brands they are currently following, or have recently interacted with.

Directly shopping from content has so far only been available through the main feed. However, with 400 million users viewing Stories on a daily basis, users across 46 countries can now also buy from the feature via shoppable tags.

Research from Instagram shows that over 90m users already tap shoppable posts every month, so introducing the new feature is not only a way to strengthen the bond with its community, but a commercially-savvy move by the company.

For the launch, e-commerce platforms such as Shopify and BigCommerce have already announced that they are both enabling their partners to connect their products to the new Stories feature.

How are you thinking about e-commerce innovation? We’re all about finding you the perfect partners for your innovation strategy. TheCurrent is a consultancy transforming how fashion, beauty and consumer retail brands intersect with technology, powered by a network of top startups. Get in touch to learn more.

Categories
Editor's pick film

Kate Spade returns with comical #MissAdventure holiday film starring Anna Faris and Rosie Perez

Kate Spade's latest #MissAdventure film: The Pit Stop
Kate Spade’s latest #MissAdventure film: The Pit Stop

Kate Spade New York is back with the latest episode in its ongoing Miss Adventure film series, this time presenting a comical tale about random friendships in the holiday season.

Hollywood stars Anna Faris and Rosie Perez both feature as sisters-in-law for the second time, hot on the heels of previous leading ladies including Miss Piggy, Anna Kendrick and Zosia Mamet.

In “The Pit Stop”, Faris is popping into New York institution Zabar’s to pick up of a holiday basket filled with goodies ahead of the holiday party they’re on their way to, when things quite rapidly go wrong. Faris end up pretending to be an employee, while Perez is left outside in the car trying not to get a ticket from the parking attendant.


“This #missadventure episode is about connection. It’s about pausing in the chaos of life to notice the person in front of you — even if they’re a stranger or your circumstances put you fundamentally at odds—to find warmth and generosity towards them,” Kate Spade New York’s SVP of brand creative, Kristen Naiman, told Vanity Fair.

“There are people who come into your day and something about them sparkles a little, and that suddenly makes you perk up and sparkle too. It’s a kind of intrigue, but not necessarily a romantic one, that makes your day a little bit better and a little more fun.

The brand’s collection features front and centre, highlighting everything from earmuffs to owl clutches and even a caviar-themed purse, not to mention the looks the duo are wearing themselves. The film is shoppable on the brand’s website.

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mobile social media

Six tips for nailing your chatbot content strategy as a competitive advantage for the future

Burberry's Facebook Messenger chatbot
Burberry’s Facebook Messenger chatbot

Chatbots have received somewhat of a mixed response since they hit the market at scale – both praised for the ease with which they can offer customer service for instance, yet critiqued for their lack of true intelligence.

This is something we’re working towards, according to Ben Parr, co-founder of chatbot building platform Octane AI, who spoke at Lions Innovation, a division of the Cannes Lions International Festival of Creativity, last week. “The technology for bots that are truly intelligent and personalised based on AI is just not there yet to be totally reliable 100% of the time, but in the future, as the tech evolves and improves, they will be,” he explained.

In the meantime, what’s important is to create an experience that is repeatable and reliable, he urged. Building an audience through such platforms now enables brands to be at the forefront of this space once we are there, he added, making it a competitive advantage for the future.

Head over to Forbes to read the six tips he gave for how to nail your chatbot content strategy on that basis.

Categories
e-commerce Editor's pick film social media

Levi’s celebrates stories of a “billion jeans” on new #liveinlevis digital platform

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Levi’s has launched a digital platform set to host everything from shoppable videos to consumer-generated imagery as part of its new Live in Levi’s global campaign.

Created in partnership with AKQA, the microsite is designed to serve as a living lookbook or a showcase of the brand’s jeans being worn around the world. It will combine storytelling with social media and e-commerce, aiming to engage and activate its global community based on the idea of shared experiences.

“Nearly everyone in the modern world owns, or has owned, a pair of Levi’s jeans,” says Stephen Clements, executive creative director at AKQA. “The global ubiquity of the brand and the diversity of people’s style is what we wanted to celebrate. It’s something no other brand can claim.”

Indeed, the tagline for the campaign reads: “A billion jeans. One-of-a-kind stories. This is how the world lives in Levi’s.”

Anchoring the initiative at launch is an interactive shoppable film. Featuring influencers including Sleigh Bells frontwoman Alexis Krauss, through to street-style star Julia Sarr-Jamois, it invites users to further explore each individual story at any point while watching. Access is then provided to photo galleries, product information, videos and links to shop the look.

“The people who wear Levi’s have always been the inspiration for our brand,” says Jennifer Sey, CMO for the Levi’s brand. “This innovation is a way for us to open up our legacy and invite participation from all over the world by allowing users to shop for iconic Levi’s products highlighted in the film.”

In an earlier interview with The Drum, she explained: “We were inspired by all the letters we receive from consumers and so we just wanted to create and facilitate a space for the stories they are already telling about Levi’s. I would say the three goals of the campaign are to assert the brand’s denim leadership, to tell authentic self-expression, which is really our point of differentiation, and to put the brand back at the centre of culture again as opposed to on the fringe.”

The film was shot in New York, London, Paris, Tokyo and Shanghai in collaboration with editorial and production company, Monster Children.

Fans are invited to contribute to the project with their own Levi’s moments by using the hashtag #LiveInLevis across social platforms. The results will be curated by Levi’s and paired with a relevant product that users can click to buy. A certain level of localisation will also occur as content is created and promoted relevant to specific markets.

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Categories
e-commerce film social media

Social content fuels H&M’s & Other Stories launch success

If you haven’t already noticed, H&M’s new brand & Other Stories has been doing a phenomenal job of using social media to seed its launch. I first wrote about them doing so here, when content across YouTube, Tumblr, Facebook and more was being teased before much was known about the line at all. The same continued as stores opened in three European cities (including London), and its e-commerce website – also heavy with shareable content – launched just this month. The reception was reportedly “tremendous”.

In a report released today, CEO Karl-Johan Persson said: “Sales, both in stores and online, have far exceeded our high expectations… This opens the possibility that & Other Stories can expand more widely and faster than we originally planned.”

Also unveiled today was another piece of shareable content; this time one tapping into the idea of collaboration. A short film called Co-Creatives (another nice social term there), shows the personal stories of “friends” of the brand including Julia Sarr-Jamois, Valentine Fillol Cordier, Ada Kokosar and Bea Åkerlund as they style their favourite looks from the collection.

Each of them was armed with a Polaroid camera and tasked with capturing their inspirations as they went. It’s a simple short spot, but another great example of how well this team seems to know it’s consumer base…

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Uncategorized

Speedo community site calls for swim stories

Speedo is encouraging swimmers across Europe to share their stories via a new community site.

Part of its Unforgettable Swims campaign created by ad agency Iris, the site calls for videos and photos of consumers’ most memorable swimming moments.

Sean Hastings, VP of product and marketing at Speedo International, said the aim was to drive individuals’ emotional engagement with the sportswear brand, reports New Media Age.

Community members are also able to browse and comment on other people’s stories, as well as integrate with Facebook and Twitter and redirect to Speedo’s ecommerce site.