DICK'S Sporting Goods Expands Resale Partnership with SidelineSwap

Rhea-AI Summary

DICK'S Sporting Goods is expanding its partnership with SidelineSwap, the largest online marketplace for sporting goods, to introduce 50 new trade-in events across seven states until the end of 2022. Athletes can exchange used sports gear for DICK'S e-gift cards, with an average value of $78 per participant. The initiative aims to promote a circular economy, allowing participants to recycle or donate items. Following the success of earlier events, DICK'S plans to increase the frequency of SidelineSwap events in 2023 as consumer demand for recommerce grows.

Positive

• Expansion of partnership with SidelineSwap enhances brand visibility and customer engagement.
• Average gift card value of $78 indicates strong customer participation.
• Plans for increased trade-in events in 2023 reflect positive growth strategy.

Negative

• None.

During 50 new trade-in events in 2022, DICK'S athletes can resell their used sports gear and receive a DICK'S e-gift card instantly for the value of their gear

DICK'S athletes can expect to find even more SidelineSwap events in 2023

PITTSBURGH, Aug. 30, 2022 /PRNewswire/ -- DICK'S Sporting Goods and SidelineSwap, the world's largest online marketplace for new and used sporting goods, are expanding their partnership to offer a series of 50 new trade-in events in seven states through the end of 2022. DICK'S Sporting Goods and SidelineSwap have previously held 10 successful trade-in events at four DICK'S locations.

At trade-in events, athletes can exchange their used sports gear and receive DICK'S gift cards to use towards their next purchase. Athletes also have the option to donate all or a portion of their trade-in value to select local sports organizations. Items that do not qualify for trade-in can be donated or recycled responsibly.

DICK'S athletes who attended the pilot trade-in events earlier this year received $78 in gift cards, on average, for their used gear and 100% of athletes surveyed said they would be interested in reselling their used sports gear at least once per year. 

Specific DICK'S locations – in Pennsylvania, California, Massachusetts, New Hampshire, Delaware, Illinois, Indiana and Ohio – and dates for upcoming events can be found on https://www.dickssportinggoods.com/s/sports-trade-in. The partnership will expand to additional markets in 2023.

According to Brendan Candon, CEO of SidelineSwap, "We're excited to expand our resale partnership with DICK'S Sporting Goods. In a recent survey conducted by BBMG¹, 62% of consumers surveyed said that brands could do more to help them participate in recommerce, so it's great to see DICK'S giving more of their athletes a quick and easy way to participate in the circular economy."

"We love that gear finds a second life on SidelineSwap's resale marketplace and that more equipment stays on playing fields and out of landfills," said Peter Land, Chief Sustainability and Communications Officer at DICK'S Sporting Goods. "Expanding our partnership with SidelineSwap to include more locations makes so much sense."

DICK'S Sporting Goods athletes who attend trade-in events at select DICK'S locations can simply bring their used gear to the event and it will be evaluated by SidelineSwap buying experts using SidelineSwap's proprietary trade-in software and value guide.

To date, SidelineSwap has helped more than one million athletes trade in and resell their used gear and is part of the larger global resale movement. U.S. households are sitting on 23.6 billion unused items worth $580 billion, and used sports gear accounts for approximately $20 billion of these unused items. 

About SidelineSwap:

SidelineSwap - the world's largest online marketplace for sporting goods - makes it easy for athletes, fans and sports families to safely buy and sell their gear. Founded in 2015, SidelineSwap has enabled athletes to earn more than $100,000,000 to date by reselling the extra gear they have at home. Buyers can expect to find great value on a wide range of inventory across all sports, and sellers can quickly & easily turn their used sporting goods into cash or shopping credit. SidelineSwap was one of the fastest growing marketplaces on Andreessen Horowitz's A16z Top 100 marketplace list for 2020.

Contacts: SidelineSwap Doug Smith, 774-213-1563, doug@sidelineswap.com

About DICK'S Sporting Goods:

DICK'S Sporting Goods (NYSE: DKS) creates confidence and excitement by personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, the leading omnichannel retailer serves athletes and outdoor enthusiasts in more than 850 DICK'S Sporting Goods, Golf Galaxy, Field & Stream, Public Lands, Going Going Gone! and Warehouse Sale stores, online, and through the DICK'S mobile app. DICK'S also owns and operates DICK'S House of Sport and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile app for scheduling, communications, live scorekeeping and video streaming.

Driven by its belief that sports make people better, DICK'S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK'S business, corporate giving, sustainability efforts and employment opportunities can be found on dicks.com, investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and on Facebook, Twitter and Instagram.

CONTACTS: Amanda Bonzo, DICK'S Sporting Goods, amanda.bonzo@dcsg.com

¹ Recurate & BBMG, 2022; US and Canada 1"How much do you agree or disagree with the following statement? "I think brands could do more to help me [buy/sell] secondhand items.'"

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SOURCE DICK'S Sporting Goods

FAQ

What is DICK'S Sporting Goods' new initiative with SidelineSwap?

DICK'S is expanding its partnership with SidelineSwap to hold 50 new trade-in events for used sports gear, allowing participants to receive e-gift cards.

How much can athletes earn at DICK'S trade-in events?

Athletes can receive an average of $78 in DICK'S e-gift cards for their used sports gear.

Where will the new trade-in events take place?

The trade-in events will be held across seven states including Pennsylvania, California, Massachusetts, and more.

When will the DICK'S trade-in events occur?

The trade-in events are scheduled to take place through the end of 2022.

What is the benefit of participating in DICK'S trade-in events?

Participants can receive instant e-gift cards, donate gear, and contribute to sustainability by recycling sports equipment.