Ikea is joining the secondhand market industry after launching its new peer-to-peer platform, according to a recent report by Digital Commerce 360.
The home store is currently testing its resale marketplace in Spain and Norway. Known as Ikea Preowned, the peer-to-peer site is an online platform where Ikea customers can directly buy and sell used Ikea items.
Oslo and Madrid are the first cities to experience and test the new resale marketplace. Ingka Group, an Ikea holding franchise that operates stores across the globe, announced the test launch will last until December. If the resale platform is successful in Madrid and Oslo, Ikea plans on rolling out Ikea Preowned around the world.
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"We will start in Oslo and Madrid, yet the ambition is higher," CEO of Ingka Group Jesper Brodin stated in a LinkedIn post. "With the test, we will get deeper insights in how we can meet people's dreams and needs in life at home, by making the IKEA range more accessible at an even lower price and as a part of our sustainability efforts."
When Ikea customers list an item on the resale platform, they set the price and upload their own photos of the item. Ikea's algorithm will add product information, such as measurements and additional promotional photos, once the seller lists the product.
Buyers on the site can meet with sellers in person to assess the product's quality. They can then decide whether or not they want to move forward with the purchase. As a result, Ikea Preowned allows customers to purchase Ikea products at a discounted rate.
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Sustainability has always been a goal for Ikea. The company already has a buyback program in some stores. Customers can sell their Ikea products back to the store, and the store will resell them at a discounted rate.
With Ikea Preowned, the company can continue to expand its secondhand market and strive toward its sustainability goals. By creating a peer-to-peer selling platform, Ikea is not only helping customers declutter their homes but also reducing the total amount of waste.
Customers have the opportunity to make money and earn rewards on unwanted furniture while also decreasing the amount of products that end up in landfills.
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