New Balance has joined the growing movement towards sustainable fashion with the launch of its new resale platform, 'Reconsidered'. The move sees New Balance become the latest in a line of over 160 brands to embrace resale as a means of reducing waste and meeting consumer demand for eco-conscious shopping alternatives.
As of today, customers in the United States will be able to both shop for and sell pre-owned New Balance shoes via the dedicated 'Reconsidered' website. This innovative platform is powered by Archive Resale, a tech start-up that specializes in providing resale solutions for brands such as Sandro, Maje, and The North Face. Furthermore, product cleaning, fulfillment, and warehousing are supported by Tersus Solutions, a company specializing in waterless cleaning technology and textile reclamation solutions for footwear and apparel.
The decision to delve into the resale market reflects New Balance's recognition of the burgeoning demand for sustainable fashion, particularly among younger consumers. With Generation Z leading the charge for more environmentally friendly and affordable shopping options, the resale market is experiencing exponential growth. Research from ThredUP suggests that the global resale market could reach a value of $350 billion by 2027, outpacing traditional retail clothing sectors by a factor of nine in the United States alone.
John Stokes, New Balance's Director of Sustainability, emphasized the brand's commitment to reducing its environmental footprint. "We know the footwear industry has a significant environmental impact, including too many products ending up in a landfill," Stokes stated. "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."
Through 'Reconsidered', consumers will have the opportunity to trade in their used New Balance shoes via mail or in-store drop-off, receiving a voucher for eligible trade-ins to use towards their next purchase. Additionally, the platform will offer returns and imperfect shoes at lower prices, further extending product lifecycles and reducing waste.
The resale initiative not only offers shoppers a more affordable shopping option but also strengthens customer retention for the brand. Payment for pre-owned New Balance shoes will be in the form of brand vouchers, fostering ongoing engagement and loyalty.
Looking ahead, resale presents numerous advantages beyond sustainability. It has the potential to boost customer loyalty, tap into new shopper segments, and incentivize store purchases through trade-ins and vouchers. Moreover, it offers a solution to the challenges posed by returned items, which often end up in landfills or incinerated. By leveraging resale platforms, brands like New Balance can breathe new life into returned products and contribute to a more sustainable fashion ecosystem.
New Balance's foray into resale signifies a significant step towards a more sustainable and consumer-centric future for the fashion industry. As more brands follow suit, the resale movement is poised to reshape the way we shop, offering both environmental and economic benefits for businesses and consumers alike.
