In the heart of New York City, a powerful movement is reshaping the fashion landscape. It’s becoming apparent that brands embrace circularity, and we took this opportunity to sit down and start a discussion on the future of the industry.
Instead of hosting generic happy hours, we curated intimate gatherings with leading brands. Partnering with ApparelMagic (fashion ERP & PLM) and Endear (CRM and clienteling), we created a safe space for these brand leaders to exchange ideas and collaborate. Our focus? Driving positive change for the future. The events fostered open and honest discussions about implementing new technologies and circularity practices within their businesses, encouraging guests to share both achievements and challenges.
When asked, brand leaders stated the top priorities for their executive teams are sustainability, driving revenue, and customer lifetime value. To dive deeper into the minds of these DTC leaders, we asked these thought-provoking questions over a meal together:
Q: What are the biggest challenges in integrating sustainability into your business?
Sustainability is a major goal for many brands, but the fear of greenwashing and financial risk can be paralyzing. The sheer volume of potential eco-friendly practices can be overwhelming, leading some to inaction for fear of making mistakes.
The good news? Starting is easier than you think. Resale and repair programs are a low-risk way to make a significant impact. Committing to extending the lifecycle of your products is a step in the right direction and a sure way to make customers happy. In our experience having launched over 150 branded resale programs, customer satisfaction has been universally positive.
Q: What factors come to mind when determining whether or not to invest in resale?
Market demand is a crucial factor when considering resale. Brands already experiencing unofficial resale activity have a potential to capture that market and generate additional revenue. However, the size and total products in circulation of a brand also play a role. For smaller brands with limited products in circulation, resale might not be the most suitable strategy. Transparency is key in this decision. Choosing a partner who openly discusses these factors ensures both parties align for success.
Operational considerations are another important factor. Brands need to assess the internal resources required to manage a resale program effectively. Some models may be more resource-intensive than others. At Treet, our goal is to make resale as turnkey as possible and minimize the workload for brands, so they can focus on their core business while we handle the logistics to ensure program success.
Q: How do consumer behavior and feedback influence a brand’s product development, marketing strategies, and overall brand direction?
Knowing what customers love is key to success! Companies can take a cue from brands that adapt to their audience's preferences. One brand, for instance, used to release seasonal collections, but after discovering their customers preferred summer and resort wear year-round, they shifted their focus. Another brand noticed strong resale activity for certain archived styles, so they brought those styles back. Resale platforms have become a goldmine for brands to capture data, allowing them to see what styles, fabrics, and products resonate most with their community. By using this information, companies can truly understand their customers and deliver what they want.
As we move forward, it's clear that the dialogue around circularity in fashion is just beginning. These intimate events with brand leaders are only a small step towards a much larger goal. By fostering these conversations and collaborations, we are setting the stage for a future where circularity isn't just an option but a fundamental aspect of every brand's ethos.
