Swedish furniture giant Ikea has launched its Buy Back & Resell program in the US.
This program lets customers sell back their gently used Ikea furniture and products in exchange for store credit. Ikea will pilot the scheme for three weeks in Conshohocken, Pennsylvania, and plans to expand this service to all its stores across the US. In addition, the 'Buy Back & Resell' program is available to all Ikea Family loyalty members.
The retailer has expanded this service to the US to improve its brand's sustainability business model. Ikea hopes to become climate positive by 2030 and believes its Buy Back & Resell program will help it achieve its goal.
The program is currently available in countries including the UK, Canada, and Australia.
Waste-Reducing Furniture Resell Programs
Ikea Launched its Buy Back & Resell Program in the US
Trend Themes
1. Furniture Resell Programs - Focusing on furniture resell programs can reduce waste and increase consumer loyalty and engagement.
2. Circular Economy Business Models - Adopting circular economy business models such as Buy Back and Resell programs can help businesses minimize environmental impact and increase revenue growth.
3. Sustainability Initiatives - Sustainability initiatives such as Ikea’s Buy Back & Resell program can reduce carbon footprint and improve brand reputation.
Industry Implications
1. Home Goods Retail Industry - Home goods retail industry can benefit from implementing Buy Back & Resell programs to reduce waste and improve customer engagement.
2. Secondhand Market Industry - Secondhand market industry can utilize the increasing popularity of Buy Back & Resell programs to expand their reach and improve customer loyalty.
3. Sustainable Product Manufacturing Industry - Circular economy business models such as the Buy Back and Resell program can contribute to a more sustainable product manufacturing industry.