Lululemon will launch a trade-in and resale option for its softly used leggings, tops and jackets later this month after a successful pilot program with consumer price increases and promises of sustainable purchases.
The rollout of Lululemon’s “Like New” program comes as retailers test the so-called re-commerce platform for Texas and California customers, which began last May.
Under Like New – powered by reseller technology provider Trove – customers will be able to trade at any of the retailer’s US stores in exchange for a gift card for their previously worn Lululemon items. They can also buy from a selection of items used on a separate page on the retailer’s website. More items are added every day.
According to Maureen Erickson, senior vice president of Lululemon’s Global Guest Innovation, the push for resale will help the premium brand in the athletic apparel sector attract customers looking for deals.
“Guests who buy from Like New are really … younger and a value-based buyer,” Ericsson said in a phone interview.
The nationwide debut is being unveiled because consumers are seeing higher prices for everything from gas to milk to bread – and some of their favorite subscription plans, including Amazon Prime. Lululemon said last month that it plans to raise election prices specifically to help it face some pressure along its supply chain.
As inflation persists, it may make more Americans look for discounts and feel more comfortable for secondhand clothing.
Analysts speculate that buyers are already warming up the idea of buying used clothing and other items. In 2015, the resale market based on Jefferies tracking was about $ 1 billion. The market was estimated at $ 15 billion in 2021 and is expected to triple to $ 47 billion by 2025.
Ericsson added that a number of third-party resale sites, including ThredUp and Poshmark, are already appearing with softly used Lululemon products.
By launching its own in-house resale platform, Lululemon seeks to increase those sales and encourage repeat customers. And buying second-hand goods from genuine retailers, Ericsson says, gives consumers confidence in product quality and authenticity.
“We were able to move [shoppers] On our ecosystem, “Ericsson said.” What it allows us to do is stay vertical, which is the nature of our business … where we own relationships with guests. “
On Lululemon’s Like New website, before its official launch date, a used women’s “All Yours” cropped hoodie is listed at $ 49, less than its new $ 108 price. A used pair of women’s “Strides Ahead” high-rise shorts costs $ 39, which is less than $ 68. And its popular men’s ABC slim-fit pants sell for $ 65 to $ 75, less than $ 128.
The company said it would not accept and resell certain items such as bras and lingerie.
And while second-hand products will only be sold online, and not in Lululemon stores, the bricks-and-mortar testing of a resale section of the Ericsson store has not ruled out the possibility.
Like Nuke is also seen as a commitment to the environment, with retailers expecting some of its products to visit the country’s landfills. The company is working towards several sustainable goals last fall, including 100% production of its products by 2030, including sustainable materials and end-use solutions.
“Every brand is trying to figure out, as it should, how we can all live in a more sustainable future. It’s not going anywhere,” Erickson said. “And that’s a global priority for us.”
Younger shoppers are increasingly taking a step toward sustainable purchases, frequently redesigning thrift stores and redesigning clothing items to reduce usage. To that end, Big-Box retailer Target last week confirmed a partnership with ThredUp to list items used for resale as part of its Sustainable Initiative.
Lululemon by Generation Z consumers is already seen to be doing it right. The brand topped Piper Sandler’s biennial “Taking Stock with Teens” survey, topping the list of top 10 favorite clothing brands for teens.
In the same survey, which ran from February 16 to March 22, 61% of teens, both men and women, reported buying secondhand clothes this spring, and 56% said they recently sold their clothes at a secondhand marketplace.
Andy Ruben, founder and CEO of Troy, calls this year a “waterless” moment for re-trade.
“Getting more quality for less money has always been the style,” Ruben said in an interview. “And then like this thing [higher] Gas prices and supply chain disruptions … all of these facilitate supplies that are already in our closets – these items are being used more and more. ”
Lululemon’s repurchase site will launch on April 22 on Earth Day.