Lululemon is joining the ranks of Patagonia and The North Face with the launch of a new trade-in resale program. The company is calling the pilot "Like New" and joined forces with Trove to pilot the new program. This May, customers residing in Texas and California will be able to bring in gently used Lululemon pieces by mail or in-store to receive a gift card to the store.
"Lululemon is actively working to help create a healthier future," CEO Calvin McDonald said in a statement.
As the second-hand market continues to grow, we can expect more brands to join the branded second-hand market. The sustainable practice is increasingly popular with Gen Z and Millennial consumers, both generations that prioritize environmental concerns.
Athleticwear Trade-In Resale Programs
Lululemon Partners with Trove for New Clothing Pilot
Trend Themes
1. Athleticwear Trade-in Resale Programs - More athleticwear brands will launch their own trade-in resale programs in response to consumer demand for sustainable practices.
2. Branded Second-hand Market - As the second-hand market continues to grow, more brands will launch their own branded second-hand marketplaces to capture a share of this market and appeal to environmentally conscious consumers.
3. Partnerships for Sustainability Initiatives - More companies across industries will partner with startups and organizations focused on sustainability initiatives to align with the growing consumer demand for eco-friendly practices.
Industry Implications
1. Athleticwear Retail - Athleticwear retailers stand to benefit from launching their own trade-in resale programs as a way to capture more sales from environmentally conscious consumers.
2. E-commerce - E-commerce platforms can partner with brands and startups focused on sustainability initiatives to create online marketplaces for second-hand and upcycled products.
3. Logistics and Shipping - Logistics and shipping companies can offer sustainable options for the transportation and delivery of second-hand and upcycled products, as demand for eco-friendly practices increases across industries.