Dick’s Sporting Goods expands used gear trade-in events

diving letter:

• Following a series of trade-in events over the past year, Dick’s Sporting Goods has partnered with SidelineSwap, the online marketplace for new and used sporting goods, to host 200 trade-in events in 19 states in the first half of 2023 host. The dealer announced this on Thursday. SidelineSwap experts will use the company’s trade-in software and value guide to assess the value of customer gear at Dick’s stores.
• States hosting trade-in events include Pennsylvania, California, New Jersey, Illinois, Michigan and fourteen others. Participants can trade in their used sports gear and equipment to the retailer for a gift card, and they also have the option to donate some or all of the trade-in value to local sporting organizations.
• Customers whose items are not eligible for trade-in may recycle or donate their items at the events. On average, attendees received $88 for their trade-ins during last year’s events, the retailer said.

Dive insight:

Dick’s Sporting Goods and SidelineSwap are expanding their partnership in hopes of capturing a piece of the multi-billion dollar used market.

Since its inception in 2015, SidelineSwap has helped consumers earn more than $100 million reselling equipment, the press release said. The partnership with Dick’s provides customers with a convenient place to swap their gear for store credit, SidelineSwap CEO Brendan Candon said in a statement.

“As the start of the spring sporting season nears, this is a great time for families to take stock of what they have and what they need,” said Peter Land, chief sustainability and communications officer at Dick’s Sporting Goods, in a statement . “SidelineSwap is a great partner to support our efforts to make a difference in the re-commerce space.”

In addition to hosting trade-in events with SidelineSwap, Dick’s Sporting Goods also invests in the startup. When the retailer launched its DSG Ventures fund last November, Dick’s launched the program from Investing in SidelineSwap along with other sports related companies like Moolah Kicks, Out&Back Outdoor and Courtside Ventures. At the time, the retailer said its investment in SidelineSwap came as the two strengthened their recommerce partnership.

In addition to its association with SidelineSwap, Dick’s Sporting Goods has also partnered with Out&Back to sell used items. Last April, the two teamed up to pilot a buyback program for outdoor gear at select Dick’s and Public Lands locations in Denver and Pittsburgh.

Despite the economic uncertainty plaguing consumers and retailers, Dick’s saw some growth in the third quarter. The company’s revenue grew 7.7% year over year to nearly $3 billion and up 50% compared to 2019, according to its earnings report for the third quarter.

But as the retailer is investing more in resale, so are the competing outdoor and activewear companies. 2019 Patagonia opened its first brick-and-mortar pop-up store for worn wearits resale division, launched online in 2017. Last year Eddie Bauer And At each introduced resale options for customers.