REI blazes the trail in resale

Author

Stephen Babcock
March 14, 2023

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While resale was once the province of marketplaces and consignment shops, ecommerce advances are helping brands take secondhand operations into their own hands. In a new study, Trove assessed the best practices in brand resale, from positioning to the details of a trade-in program. It also identified leaders in the category, such as REI and On.

New this morning: US Consumer Price Index data showed inflation continued to cool, coming in at 6% for February. However, shelter and food prices are still elevated, so consumers will keep thinking twice before treating themselves to a big buy. Meanwhile, Adobe’s Digital Price Index showed ecommerce prices deflating to the tune of 1.4% year-over-year. That's the sixth straight month of online price decreases.

A new partnership between Best Buy and Roku will bring the consumer electronics retailer’s first-party data to Roku’s streaming advertising network, with an eye toward improving targeting and measurement. It’s the latest sign that the data powering retail media can be used not only to reach consumers within a marketplace, but also on fast-growing offsite channels such as CTV.

In this week’s funding and M&A roundup, Patagonia acquires nutritious snacks, and a juice company expands through flavorless beverages. Plus, software companies in Amazon marketplace sales, behavioral marketing and EDI raise new funding.

Facebook and Instagram’s parent company is undergoing a fresh round of job cuts, and closing 5,000 open roles as it cancels “lower priority projects.” It comes as commerce is being repositioned at the social apps in recent months. Facebook has rolled out new AI-powered shopping ads, while Instagram has moved the Shop tab off the main navigation bar. We’ll be on the lookout for further changes as the company’s “year of efficiency” continues. – CNBC

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