The news: On Earth Day, April 22, lululemon athletica will expand its Like New trade-in and resale program nationwide.
More on this: We expect this year to be a banner year for online fashion resale, with year-over-year sales growth of 46.6% reaching $15.50 billion thanks in part to more prominent retailers entering the space.
A focus on sustainability: Online fashion resale benefits from consumers’ growing interest in sustainability—particularly among younger consumers.
The brand advantage: The initiatives by retailers such as lululemon can reassure consumers that the items they purchase are authentic and of a high quality.
The big takeaway: The resale market offers an enticing opportunity for brands to demonstrate their sustainability bona fides at the same time they’re opening up new revenue streams.