lululemon to Launch Trade-in, Resale Program Nationwide
Following a successful pilot program, lululemon athletica is rolling out its "Like New" trade-in, resale program nationwide later this month, according to a company press release. The program helps extend the life of the product and "ensures each item gets its full use," the athleisure brand said Wednesday. Customers can trade in gently used lululemon clothing in exchange for an e-gift card that can be used in-store or online. lululemon first piloted the "Like New" program in May 2021 in Texas and California, and the pilot was "met with an overwhelmingly positive response," with the majority of inventory categorized as "good as new."
Total Retail's Take: lululemon's announcement comes on the heels of Target's partnership with thredUP, the resale platform. As product prices continue to increase due to inflation, companies like lululemon and Target are looking for creative ways to serve customers, especially those looking to save. Competition in the resale market is becoming fierce, with other retailers launching their own resale platforms or partnering with third-party platforms. The resale model also caters to consumers looking to spend their money with companies whose values include sustainability. lululemon's "Like New" program fittingly launches on Earth Day, April 22.