As part of their Reconsidered resale program, New Balance has scaled its in-store trade-in service, allowing customers to bring their gently used New Balance footwear into nearly 100 participating U.S. stores.
Initially launched in February of this year, Reconsidered is a resale and trade-in program that allows consumers to shop for cosmetically imperfect New Balance shoes that could not be sold as new. Customers could also mail in their gently worn New Balance shoes in exchange for a voucher to use toward their next purchase online at NewBalance.com.
Following the initial success of in-store trade-ins at two pilot stores, New Balance has now expanded the program to nearly 100 participating U.S retail locations. This allows customers to easily drop off their pre-loved New Balance sneakers in exchange for a voucher. The in-store trade-in process is simple and seamless, with trained associates ready to assist customers. Once collected, the merchandise is boxed and shipped to Tersus Solutions, the program’s third-party logistics provider, where each product is carefully inspected and cleaned. Tersus then fulfills the items through the Reconsidered marketplace, using Archive’s Resale Operations Technology to maximize profitability and efficiency.
At one of New Balance’s first pilot stores, an elderly lady came in wearing an older version of New Balance sneakers. She initially stopped by to buy a new pair of the same style she had grown to love. The store associate, well-versed in the program and wear-and-tear guidelines, confidently suggested a trade-in for the shoes she was wearing. The customer was delighted to learn about the trade-in option and felt reassured knowing her old shoes would be put to good use instead of being thrown in the trash. Surprised by how quick and easy the process was, she left the store satisfied with her new shoes and a voucher for her next purchase.
This, coupled with the fact that supply from customers (mail-in and in-store trade-ins) sells on average 2.6X faster than brand-owned inventory, underscores the importance of fueling supply from multiple channels. It is an effective way to ensure sales growth and to meet customer demand.
To learn more about New Balance Reconsidered’s latest expansion, visit Forbes.
