The news: On Earth Day, April 22, lululemon athletica will expand its Like New trade-in and resale program nationwide.
- The program, which is launching after a two-state pilot run last year, allows shoppers to trade in lululemon clothing such as pants, shorts, and jackets for an egift card. The retailer is also featuring an assortment of gently used lululemon items online.
- A number of companies, including Another Tomorrow, Cuyana, Moda Operandi, Target, and Urban Outfitters, have also recently launched resale initiatives by teaming up with a partner, such as technology provider Trove Recommerce, luxury bag and accessories reseller Rebag, or online consignment store thredUP.
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.
- Our forecast projects resale’s share of retail ecommerce apparel and accessories sales will rise from 6.0% in 2021 to 10.0% in 2025.