New Balance debuts brand-owned resale channel

New Balance is finally joining the rest of the sneaker industry in getting in on first-party resale. Starting on Monday, the 118-year-old brand is offering New Balance Reconsidered, a program through which customers can exchange their used New Balance sneakers — sent by mail or delivered to a store — for a voucher to use toward their next online purchase. New Balance describes the voucher’s value as “dynamic, based on the seasonality and condition of the product traded in.” Those pre-worn shoes will be sold on New Balance’s online store in a new section of the website labeled Reconsidered.

New Balance is the latest brand to make this move, joining the ranks of other sneaker brands like Nike and Adidas. Over the last two years, brand-owned recommere channels have also been launched by a plethora of non-sneaker brands, including Patagonia, The North Face, Steve Madden, Mara Hoffman and Diane von Furstenberg. While the move toward recommerce began in 2022, 2023 showed that the trend had no signs of stopping. Secondhand fashion grew to be a $20 billion market in the U.S. last year, and it’s likely to keep growing, according to Insider Intelligence. That growth is driven primarily by Gen Z customers.

For New Balance, the launch is as much about sustainability as it is about keeping up with consumer shopping trends. The brand has committed to the Science Based Targets Initiative, which is the United Nations’ emissions reduction initiative that aims to keep global warming under 1.5 degrees Celsius. It’s also planning to reach 100% renewable electricity for its operations by next year.

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