Amid the four-day shopping extravaganza that is the Black Friday-Small Business Saturday-anyone have a name for Sunday? continuum that culminates in Cyber Monday, one brand has stuck out in my mind for its somewhat-alternative approach: Patagonia.
Last year, in accordance with its position as one of the more eco-activist companies on the spectrum, it began urging customers not to buy, but to swap. Or rather, not to acquire more without divesting some.
This year, however, it upped the ante by using its venture capital fund, $20 Million and Change, which was unveiled last year, to make an investment in Yerdle, a company that has applied a sharing economy to items, and created a swapping app.
It’s fairly simple: Post something you don’t use, earn Yerdle credits and use those credits to buy something someone else has posted. In Patagonia’s case, it meant that whomever could not make it to the brand’s Black Friday “Worn Wear” swap — bring in old, no-longer-used Patagonia and trade for someone else’s less-used Patagonia, held in eight major markets such as Boston, New York and San Francisco — could still take part in the exchange.
Also, in case you missed the Black Friday hoo-ha because you, like me, were hiding from the voracious hordes in your house, you can still get the experience through the app.
It’s an interesting idea: Clearly, no matter how genuinely eco-aware and committed you are, you can’t fight the consumer tide, which has everyone salivating at the chance for a deal, but you can prevent the waste that comes with too much stuff.
Here’s how a Patagonia spokesman explained it: “At the end of the day, extending the life of clothing already in circulation does more to lower our environmental footprint than anything we can do to improve how we make new stuff. Our ‘Worn Wear’ program is about inspiring our customers to celebrate the unique character their gear has accumulated through extended use and repair – and then giving them tools to extend its life when they no longer need it. We want customers to start seeing those items as better than new. We’re excited to invest in Yerdle and partner with their innovative team to help get items that are no longer being used into the hands of people who will put them back into action.”
Though on the surface this kind of initiative may seem counterintuitive — Isn’t it in Patagonia’s interest to urge people to buy more? — my guess is the good will and positive word of mouth generated by appearing NOT to drink the consumer Kool-Aid may actually pay off in the end. It also demonstrates a faith in the longevity of the company’s own products that is the opposite of fast fashion. It is the Hermès of sports lifestyle! And the idea puts them in pole position for any Black Friday backlash.
It is, in other words, like the venture capital fund, a long-term investment in a consumer base. Something to think about, perhaps, for both buyers and brands in this gift-giving season.