New Balance joins the growing trend of brands venturing into the resale market by unveiling its dedicated resale website. As a result, the sportswear and lifestyle giant now allows U.S. consumers to purchase and sell pre-owned New Balance shoes through a platform powered by Archive Resale.
This initiative exclusively begins with pre-owned shoes, facilitating the trade-in process through mail or in-store drop-off. Consumers opting for trade-ins will receive vouchers for eligible transactions, which they can apply towards future New Balance purchases.
Notably, the resale platform features pre-owned items and includes returns and imperfect shoes, expanding product lifecycle and minimizing waste.
"We know the footwear industry has a significant environmental impact, including too many products ending up in a landfill," said John Stokes, Director of Sustainability at New Balance. "There are many things that have to shift. Launching Reconsidered is one piece of the puzzle with a program objective to help extend product life for some of our product and get the most from what is already made."
Sustainable Shoe-Trading Platforms
New Balance Joins the Resale Space with 'Reconsidered'
Trend Themes
1. Resale Market - Brands like New Balance are venturing into the resale market by launching dedicated platforms, allowing consumers to purchase and sell pre-owned items.
2. Product Lifecycle Expansion - The introduction of pre-owned and imperfect shoes in the resale platform by New Balance contributes to the expansion of the product lifecycle and reduces waste.
3. Sustainable Initiatives - New Balance's dedication to sustainability is evident in their new resale platform, 'Reconsidered', which aims to extend the life of products and minimize environmental impact.
Industry Implications
1. Sportswear - The sportswear industry can benefit from creating dedicated resale platforms to promote sustainable practices and reduce waste.
2. Retail - The retail sector can explore the implementation of dedicated resale websites to tap into the growing market and offer customers a sustainable alternative.
3. Sustainability - Industries focused on sustainability, such as eco-friendly fashion brands, can adopt resale platforms to further extend the lifecycle of products and minimize waste.