Dive Brief:
- Extending its resale service to more customers, New Balance has partnered with Archive, a branded resale company, to launch its in-store trade-in program in nearly 100 participating U.S. retail locations, the company said in an email on June 17.
- As part of the initiative, shoppers can trade in their gently-used footwear for a voucher toward their next purchase at New Balance, the company said.
- The company also teamed up with Tersus, which will clean and list the items for resale in the company’s New Balance Reconsidered marketplace.
Dive Insight:
New Balance is expanding its resale program, dubbed Reconsidered, after launching it earlier this year. Through the program, shoppers can purchase secondhand shoes or “cosmetically imperfect” items and trade in pre-owned shoes for a voucher.
Reconsidered features both customer-sourced products and brand-owned inventory. New Balance noted that secondhand products supplied by customers sell 2.6 times faster than its brand supply.
Reconsidered is part of the company’s sustainability efforts. The brand is also a member of the Footwear Collective, an effort aiming to promote circular footwear.
Meanwhile, athleticwear and outerwear brands have jumped on the resale trend in recent years. In 2022, Lululemon began offering its recommerce program nationally, expanding the pilot beyond its California and Texas locations. Dick’s Sporting Goods also recently expanded its resale partnership with SidelineSwap, enabling the athletic retailer to co-host trade-in events where customers drop off used sports equipment for Dick’s e-gift cards.
Last year, Canada Goose teamed up with Trove to launch its Canada Goose Generations resale program, where shoppers can buy authenticated items and resellers can receive gift cards for accepted items. Later that year, Carhartt collaborated with Trove to offer its resale program at 35 locations, expanding the program from its original six-store pilot.
