DICK’S Sporting Goods Takes Aim at Another eBay Category With Investment in Online Marketplace SidelineSwap
DICK’S Sporting Goods is getting into the online marketplace space with a strategic investment in sports gear resale marketplace SidelineSwap.
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SidelineSwap was launched in 2015 to make it easier for athletes to buy and sell their gear online. The company claims more than 600,000 athletes have joined the peer-to-peer marketplace and have listed more than $100+ million of athletic gear.
Even prior to this investment, the two sporting goods companies had been collaborating on resale pop-up trade-in events at local DICK’s Sporting Goods stores, allowing athletes to sell their gently used sports gear for gift cards.
The expanded partnership enables SidelineSwap to further enhance its online marketplace and technology while DICK’S Sporting Goods can bring more circular shopping experiences to its customers.
“This partnership started with our commitment to make it easy for anyone to sell their used sports equipment. We’ve spent the last 5+ years building the best online resale marketplace in sports, and now we’re expanding the business to power resale wherever athletes shop or play through our trade-in platform,” said Brendan Candon, Co-founder and CEO of SidelineSwap.
There is a rapid change in the resale marketplace landscape. Secondhand buying and selling is outpacing retail growth and is expected to grow 127% by 2026, according to ThredUp’s 2022 Resale Report.
In addition, a recent report by eBay revealed that Gen Z is driving the resale or recommerce market, with 80% of respondents saying they had purchased pre-owned products on the platform.
While SidelineSwap is a niche recommerce marketplace, it focuses on an industry with significant growth potential.
Furthermore, niche peer-to-peer marketplaces can finetune their experiences to the specific industry and user, avoiding the one-size fits all experiences that a broader marketplace like eBay offers.
DICK’S Sporting Goods Investment Follows Retail Trend
And with more consumers interested in buying pre-owned goods, retailers are increasingly seeking solutions to take advantage of the growth in these consumers.
Recently major retailers, such as Lululemon and Ikea have introduced circular economy programs enabling customers to trade in or sell back goods for store credit.
SidelineSwap’s expanded partnership with DICK’s Sporting Goods is a “true win-win-win,” said Doug Smith, VP of Partnerships at SidelineSwap.
Through this partnership, DICK’S Sporting Goods has the opportunity to increase foot traffic and sales while embracing sustainability. In turn, SidelineSwap gains a broader selection of items and deals on its online platform.
The two companies did not disclose the value of the investment.
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Richard is co-founder of eSeller365. He has over 17 years of experience on eBay which includes tens of thousands of sales to buyers in over 100 countries and even has experience with eBay’s VeRO program enforcing intellectual property rights for a former employer. And for about two years Richard sold products on Amazon using Amazon FBA in the US.
To “relax” from the daily business grind, for a few weekends a year, he also works for IMSA as a professional race official.