Embracing Sustainability in Retail
Decathlon, a leading sports equipment distribution marketplace, has taken a significant step towards promoting sustainability by launching “circular spaces” in 70 of its stores with over 100 square meters of surface area. These spaces focus on the repair, rental, and second-hand sale of sporting goods, aligning with the company’s long-term commitment to circularity.
Reducing Waste and Promoting Sports
Decathlon’s initiative aims to reduce waste and promote sports by encouraging customers to sell their gently used items. The program, available in all Spanish stores, allows customers to sell products related to various sports, such as cycling, fitness, and tennis. This approach not only reduces waste but also makes sports more accessible and affordable for a wider audience.
Enhancing Customer Experience
To further enhance the customer experience, Decathlon introduced a new payment method for its buyback operations in October. In addition to gift cards, customers can now receive payment through bank transfers, providing more flexibility and convenience.
Global Expansion and Strategic Partnerships
Decathlon has also been expanding its global presence, particularly in the Indian market. The company signed a strategic alliance with Myntra, a leading e-commerce platform, to increase its online presence and grow in the northeast region of India.
Financial Performance and Growth
As of 2023, Decathlon operates a network of 1,749 establishments across 78 territories. The company reported sales of 15.6 billion euros, a 1.3% increase from the previous year, and a net result of 931 million euros, a 0.8% increase from 2022.
Second-Hand Market Boom
The second-hand market is experiencing significant growth, with companies like Ikea launching their own second-hand platforms. Ikea’s “Ikea preowned” platform, initially piloted in Madrid, has been expanded nationwide, following a successful trial period that saw 119,778 visits to the platform between August and December.