Industry News
Wrapping up 2024 on a high note, Geartrade this week announced a record-setting year for its outdoor resale platform, growing topline sales of their core business 80%, year over year, while also finding a new home for more than 50,000 pounds of gear and apparel
In the five years since a new family ownership group took over the platform, Geartrade has also grown revenue by 800% and established itself as the premier outdoor gear and apparel resale marketplace.
Successful growth is a hat tip to Geartrade’s unique business model, which blends a leading-edge consumer consignment program—including free shipping and an in-house concierge service that supports sellers every step of the way—with robust Brand Resale Partnerships that combine warehousing, product evaluation, product listing, marketing, and fulfillment.
The growth has also shined a spotlight on noteworthy progress in three essential areas, according to Aaron Provine, Geartrade president:
Holiday sales surge shows consumers mindset is shifting
“When I started working on Geartrade five years ago, the platform was definitely on a different sales calendar from the rest of the outdoor industry, with the big peaks happening a month or two after the traditional sales season had wound down. But in the last two seasons, the sales calendar of the used gear marketplace has started to align directly with the world of new gear. This holiday season was our strongest ever, with growth of our core business surging 90% year over year, beginning in late October and stretching right through December. That’s a clear sign of consumers normalizing used gear as a gift idea for their friends and family.”
Brand partners are reframing how the outdoor industry is thinking about used gear
“In the last 18 months, three authentic and influential brands have become resale partners at Geartrade – DPS skis, Flylow, and Jones Snowboards – and we’ve won an Outdoor Retailer Innovation award for that work. Having these influential brands become spokespeople for the used gear economy has done more than just increase consumer participation at all levels, it has also changed how the outdoor industry is looking at resale and is fueling some incredible conversations with the next wave of brand leaders.”
Need for affordability in multiple outdoor sectors is driving overall growth
“The steady growth we’re seeing definitely falls into the ‘rising tide lifts all boats’ category, as it’s happening across multiple activity segments, and includes hard goods, soft goods and accessories. This broad based growth indicates the resale market is a place that consumers feel comfortable going to for their full range of outdoor needs. Part of this is certainly an endorsement of the Geartrade business model, but a huge part is also the widespread desire among consumers for more affordable ways to participate in outdoor recreation.”
