Fashion and the Circular Economy with Zoe Rowswell, co-founder of Tern Eco (episode 435)
Zoe Rowswell is the co-founder of Tern Eco, and has some amazing Fashion eCommerce credentials. Zoe was Director of eCommerce for Urban Outfitters, Global Director of eCommerce and Omnichannel at Jimmy Choo, AND rose from assistant merchandiser to Head of Online Trading during 14 years at TopShop.
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About Tern Eco
Tern Eco was founded by Zoe and her partner Kate because they wanted to focus on sustainable retail and help brands on their own sustainability journeys.
Tern is a sustainable retail tech solution that enables and automates trading for retailers. It allows brands to launch their own trading or buyback program, which enables customers to exchange their previously purchased goods for store credit. Their launch product is a trade-in app for Shopify.
Big Focus for Future Success
Particularly for the fashion industry, Zoe says circularity and sustainability are aspects retailers should focus on.
Understand what the rise of resale, rental, and repairs can mean for your business. These new models may seem difficult and overwhelming at first, which is why a lot of people are not getting into these programs. But focus on these programs because, in the long term, they are opportunities for growth.
Circularity in the Fashion Industry
Circularity and sustainability are not simple challenges or solutions. Zoe explains that this is because both have to do with shifting from the current business model of creating a product, selling it, and then throwing it away when it’s no longer useful to something that’s circular right from the product’s initial design.
Consumers, even if they want to do the right thing, don’t have too many options. What retailers can do to help consumers in this area is to take responsibility for the products they are selling.
Zoe says there is a huge opportunity for brands and retailers to own their circularity programs directly. This is a fast-growing and important space, and they need to take ownership if they want to realize its true potential.
Circularity as a Long-term Strategy
There are benefits and opportunities that come with circularity. Aside from being the right thing to do and the revenue it brings, it also allows retailers to maintain their brand integrity, especially when you get into the secondhand market.
Additionally, Zoe mentions that government legislation is going to force retailers to change their practices. So it’s best to start thinking about this now and what it can mean for your business.
Incorporating Various Circularity Programs
Most of the retailers Tern Eco talks to are focusing on resale because of the revenue opportunity it offers. Zoe adds that when you run your own trading program, it allows you to gain valuable insights because you get to see the physical products after they are used.
Running a digitally enabled trading program also provides data and analytics on your customer’s behavior, so if you can, go digital instead of manual.
eCommerce Book Top Tip
- Shoe Dog: A Memoir by the Creator of Nike by Phil Knight
- The Waste-Free World: How the Circular Economy Will Take Less, Make More, and Save the Planet by Ron Gonen
eCommerce Traffic Top Tip
- Zoe believes in utilizing multiple channels, but she says to make sure you understand how each channel works effectively in driving traffic for your business based on data and analytics.
Tool Top Tip
- Slack productivity platform
Growth Top Tip
- Get your basics right, get your navigation right, and have a good onsite search experience. Make sure you also have a clear delivery and returns policy, and lastly, offer good customer service.
Interview Links
Related episodes
- Building a Sustainable Fashion Brand with Partnerships and PR. Gergana from blonde gone rogue (episode 354)
- Building a lucrative second hand market with Kalkidan Legesse founder of Sancho’s and Owni (episode 372)
- Clothes Swapping success and how it can work for brands too with Nuw’s Aisling Byrne (episode 376)
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