New Balance launches Reconsiered platform to meet growing demand
New Balance joins over 160 brands in launching its own resale website, providing consumers with the opportunity to buy and sell pre-owned New Balance shoes. Powered by Archive Resale, the dedicated platform offers a seamless experience for users in the U.S. to engage in sustainable shopping practices.
Adapting to changing tides of the ever growing issue of the world's environment
The decision to enter the resale market reflects New Balance's response to the growing demand for eco-conscious and affordable options, particularly among Gen Z consumers. With the global resale market projected to reach $350 billion by 2027, New Balance is aligning itself with consumer preferences and industry trends towards sustainability.
Promoting sustainability to save the world one pair at a time
John Stokes, Director of Sustainability at New Balance, emphasizes the environmental impact of the footwear industry and the need for change. The launch of Reconsidered, New Balance's resale initiative, aims to extend product life and minimize waste by offering trade-in options for customers while providing affordable shopping alternatives.
Resale outlook for the future of New Balance
New Balance's resale platform offers multiple avenues for sustainability, including mail-in and in-store trade-ins, as well as the sale of discounted returns and imperfect shoes. This approach not only reduces waste but also enhances customer retention through brand vouchers for sellers, creating a circular economy within the brand ecosystem.
Unlocking opportunities for consumers and the brand
Beyond sustainability, resale presents additional benefits for brands, such as boosting customer loyalty and reaching new shopper segments. It also addresses the challenge of returns, offering a solution to the environmental and logistical issues associated with damaged and unsold inventory. As brands like New Balance embrace resale, the landscape of sustainable fashion continues to evolve, offering innovative solutions for a more sustainable future.
Final thoughts on the Reconsidered Program
It is no secret that the world has been suffering throughout the centuries due to the introduction of gasoline, carbon dioxide, nuclear waste, etc. We have heard it in a variety of names, Global Warming to Climate Change. At the end of the day, consumerism and convenience has paid the price in exchange of our world's environmental crisis. We have seen states such as California press for eco-friendly laws, and even the World Health Organization plead for everyone to cautious on how they utilize their resources (despite the fact that most of the leaders fly private jet planes which is contradictory towards what they are telling us to do). However, companies such as Nike, Adidas, and now New Balance offer options for consumers to make the most of their sneakers by providing sneakers that are made of recyclable materials. Now there are trade programs such as the Reconsidered Program that allows those who are not making most of their New Balance sneakers to trade out for another pair that they may get more uses out of. This is a brilliant idea and one that many other companies and brands should start implementing if they want to put their money where their mouth is. It's time to make a change, even if starts with one pair of sneakers at a time.