NRF Innovation Lab Spotlights Sustainability with Circular Commerce

NRF 2022: Retail’s Big Show is right around the corner. The Sophelle team is looking forward to connecting with retail experts and leaders at this epic industry event. One exhibit stands out as a definite must-see: The Innovation Lab. This unique immersive showcase of the latest developments in retail technology will highlight artificial intelligence, augmented reality, machine learning, facial recognition, robotics, and more.

Our Practice Leaders are running private curated tours of the Innovation Lab. Let our retail strategy experts escort you through the exhibit, offering a customized experience tailored to your organizational needs. We’re spotlighting several retail technology companies featured at this year’s Innovation Lab. Previously featured companies include Pockyt and Quorso, and today’s post highlights ground-breaking companies focusing on sustainability through circular commerce.

Spearheading Sustainability with Circular Commerce

In today’s retail landscape, customers look for brands with sourcing, manufacturing, and distribution practices that are environmentally and socially responsible. Developing a demand-focused circular commerce strategy is one way for retailers to corner this market.

Circular commerce champions a sustainable ecommerce ecosystem where retailers support and participate in a circular economy. This approach encourages retailers to resell returns, trade-ins, and used products, keeping the goods in circulation. There’s also the option for retailers to recycle, reuse, repair, and rent products. 

Trove and Recurate are two companies at the Innovation Lab that offer retailers start-to-finish circular commerce solutions. 

Trove: Reducing Carbon Footprints and Increasing Sales

Founded as a California Benefit Corporation, Trove positions sustainability as the only way forward for retail. Trove is on a mission to innovate beyond the “take, make, and dispose” cycle inherent to the current retail model. It helps brands design, build, and execute their circular shopping experience to drive change and sustainability successfully.

Trove enables retailers to take back items from customers’ closets while maintaining control of their brand equity and owning their customer experience, data, and relationships. 

By powering trade-in and resale services for global brands, Trove is helping keep high-quality clothing in use longer. Their solutions inspire consumers to think about sustainability when making purchases. Brands such as lululemon’s Like New, Patagonia’s Worn Wear, and Levi’s SecondHand are using Trove to build out sustainable reselling branches.

Recurate: Simplifying Circular Commerce

Recurate is a full-service “recommerce” partner with features and support that make reselling easy for brands, sellers, and buyers.

It enables a beautifully integrated resale marketplace directly within ecommerce sites. As a Shopify-approved app, Recurate integrates directly into Shopify and Salesforce as a LINK Cartridge and leverages custom integrations to work with brands on other platforms.

Recurate is committed to delivering simple implementation and comprehensive support, with the ability to launch a new program for retailers in as few as four weeks. 

If your organization is looking to broaden its circular ecommerce strategy, the companies at Innovation Lab offer exciting services and solutions you should know about. 

 Let’s explore the possibilities together. Book your curated tour of the Innovation Lab with us today. 

Check out our other Innovation Lab post here!