Canada’s top high-end winterwear brand (named after an aggressive northern waterfowl) is tapping into the growing consumer desire to get thrifty.
What happened: Canada Goose (CG) has launched a resale platform in Canada that lets people exchange their used apparel for gift cards worth up to 60% of the item’s retail price.
- Demand for used—or shall we say, vintage—CG pieces had been surging, with the company claiming online searches for such items grew by 50% between 2021 and 2022.
Why it matters: Frugal and sustainable Gen Z shoppers are set to help fuel the growth of the second-hand market, driving luxury brands like Gucci and less glamorous companies like Walmart to add their own resale programs and/or partner with third-party resale platforms.
- Notable Canadian brands like Lululemon and Arc’teryx have also introduced resale platforms in recent years, as have Canadian retailers Hudson’s Bay and Simons.
Zoom out: Unsurprisingly, thrift stores are cashing in on the resale wave. Value Village, the one-stop shop for t-shirts from old corporate events, went public late last month and has since seen its share price balloon 34% (as of writing) from its debut price.
- Meanwhile, competitor Goodwill has ambitious expansion plans in Canada, looking to add more than 40 stores across the country over the next five years.
Bottom line: Resale has yet to prove its long-term profitability, but brands are still pushing forward in hopes of boosting customer acquisition and loyalty—which works for us if it means we can get a sweet, lightly-worn puffer vest without breaking the bank. —QH
