With everything on sale and FOMO buying on the rise, Geartrade prepares for massive wave of summer ‘trade ins’

February 15, 2023

In preparation for a coming wave of used outdoor gear and apparel, Geartrade is clearing space in their newly expanded warehouse and modifying their summer trade-in strategies

FEBRUARY 15, 2023 / FOR IMMEDIATE RELEASE /OUTDOOR SPORTSWIRE/ – In preparation for a coming wave of used outdoor gear and apparel, Geartrade (www.geartrade.com), a Climate Neutral Certified marketplace for previously owned goods, is clearing space in their newly expanded warehouse and modifying their summer trade-in strategies.

The moves are in direct response to the widespread discounting of new products throughout the outdoor industry, a long-expected trend stemming from oversupply in multiple categories.

“It’s supply chain whiplash,” said Aaron Provine, president of Geartrade. “A year ago, supply was so short in many categories that prices were soaring, and this year, those same categories are drowning in product. You can point fingers at interest rates, or COVID, or politicians, but the clear culprit in all of this is the reliance of our economy on newness. Any conversation about sustainability goes out the window when as a culture we’re simply making and buying too much new stuff.”

Geartrade’s warehouse expansion, which began in early winter, will double their space in Salt Lake City when completed later this month. Over that same time period, Geartrade will make key adjustments to their processes and strategies for spring and summer “trade in” promotions in which consignment sellers receive higher than typical rates for their lightly used gear and apparel.

Geartrade’s adjustments are driven by internal data which shows significant spikes in the buying and selling of used gear and apparel in the aftermath of heavy sales periods in the traditional ‘new’ marketplace, such as November’s Black Friday or summer’s Amazon Prime Day.

Those Geartrade usage peaks typically also coincide with rising retail return statistics, which hit a new record in early January as a reported 50% of holiday shoppers returned more than $135 billion in gifts (source: NPR).

However, as returns are typically not allowed in discount clearance sales, the sole recourse for consumers who overbuy this spring will be the used gear and apparel marketplace next summer.

“We’ve already begun to see a significant uptick in the quality of incoming consignment products, which is almost certainly the result of FOMO over-buying. Fortunately, the presence of the ‘un-new’ marketplace is growing more important and relevant every day. It’s a trusted place to find a new home for old stuff, as well as an incredible value for those looking to gear up,” added Provine.

ABOUT GEARTRADE:

Geartrade is a Climate Neutral Certified and family-owned online marketplace for UnNew outdoor gear and apparel. Founded in 1999 and relaunched in 2019, Geartrade makes it easy to buy and sell used gear, extends the life cycle of all outdoor products, and minimizes their environmental impact wherever they can. Geartrade sellers include individuals, retailers, and manufacturers; and their selling options include both self-listing as well as consignment – which includes free boxes, free shipping, and complete hassle-free posting of all items. For more information or to sell that great old backpack hanging in your garage, please visit Geartrade.com.

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