One might expect local entrepreneurs to be the ones who might open a second-hand furniture store, not the world’s largest furniture chain.
Swedish giant Ikea will buy back your old Ikea furniture provided it’s in good condition, by offering vouchers up to 50% of the original value.
The deal, meant to stimulate some circular economy buying during the upcoming Black Friday, a veritable feast day for consumers, will run in 27 countries.
“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,” it said in reference to 27 November, when lots of retailers offer discounts on their products.
Only non-upholstered items like chairs, tables, and bookshelves are eligible for return and a simple price/quality structure is applied to measure value, with “like new” items being worth 50%, and “good” items worth 40%, with further evidence of use decreasing the price further.
The plan is to eventually flip all this old furniture, with each Ikea store having a place where people can be restored second-hand products if they so desire.
Ikea has stated that anything which cannot be sold will be recycled, and that anyone looking to turn in their old furniture should take it to their local Ikea location fully assembled.
Ever the expansionist, the used furniture venture comes alongside last month’s announcement that the group, which reported sales of around 40 billion in the first 8 months of 2020, will be opening 50 new locations across the world this year.