October 14, 2020

IKEA To Buy Back, Resell Used Furniture

IKEA To Buy Back, Resell Used Furniture

As part of its goal to become “a fully circular and climate-positive business” by the turn of the next decade, IKEA plans to buy back furniture to sell as pre-owned items.

Shoppers who sell back items will receive vouchers to spend at the retailer’s locations. The value of the vouchers will vary depending on the condition of the bought-back items, The New York Post reported.

IKEA said the vouchers won’t have an expiration date, to inspire shoppers to buy merchandise only at the time when they need it.

“By making sustainable living more simple and accessible, IKEA hopes that the initiative will help its customers take a stand against excessive consumption this Black Friday and in the years to come,” the retailer said, per the report.

Shoppers must bring the products back to the retailer completely assembled. Any merchandise that can’t be re-sold will be contributed to charity or recycled.

A campaign will market the effort between Nov. 24 and Dec. 3, but the promotion will extend beyond that time.

IKEA reportedly intends to have designated locations in each shop by next year, where consumers can bring back their old merchandise and also find refurbished items.

In March, workers at an IKEA location on Sweden’s West Coast found a COVID-fighting treasure trove: 50,000 unused face masks, which the retailer contributed to a local medical center.

In other news, in February, IKEA Dubai announced a new program that enables shoppers to receive credits for purchases based on their travel time to reach the store. “Before the birth of this campaign, we realized two things: Time is precious today, and many loyal IKEA customers spend a significant chunk of it visiting our locations, which are sometimes away from the city center,” said an IKEA spokesperson.



IKEA To Buy Back, Resell Used Furniture

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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