Lululemon, a Vancouver-based activewear brand, has entered the resale market trend, following the footsteps of other major players like Canada Goose and Arc’teryx. The company has introduced its Like New service in Canada, where pre-owned Lululemon items can be bought and sold through an online platform.
The process involves a 25,000-square-foot processing hub in Calgary operated by Tersus Solutions, a Denver-based company. This facility handles cleaning, grading, and preparing returned Lululemon products for resale. Notably, Tersus has seen significant growth in its U.S. operations due to the increasing demand for recovering value from returned and used merchandise.
By embracing resale, companies like Lululemon can extend the lifespan of their products, attract customer loyalty, and contribute to sustainability efforts. Customers can earn either 70% cash or 90% store credit when selling their items through the Like New program. Additionally, those without receipts may still be eligible for trade-ins.
Retail experts highlight that resale initiatives allow brands to tap into the thriving second-hand market, attracting new customers and offering different price points without compromising on quality. This approach also aligns with the growing consumer trend of purchasing pre-owned items, as indicated by a recent study showing that 77% of Canadians have bought second-hand products in the past year.
Tersus Solutions, which works with various brands such as New Balance and Arc’teryx, plans to expand its operations in Canada. The company emphasizes that its resale services not only benefit the environment by reducing textile waste but also provide retailers with an additional revenue stream from previously unsellable goods.
In conclusion, the move towards resale by companies like Lululemon and Anián reflects a shift towards more sustainable and circular business practices in the retail industry. As consumers increasingly value eco-conscious choices and affordability, brands are adapting to meet these evolving preferences.
