Key facts
- Ikea is expanding its furniture buyback and resell program to all US stores next month.
- Customers receive store credit for trading in used Ikea furniture.
- The program has processed around 53,000 items in five years.
- The initiative aims to attract both bargain hunters and design enthusiasts.
- Participating customers increase their store visits by 50% on average.
Ikea is set to expand its furniture buyback and resell program to all of its full-format stores across the United States next month. This initiative, which has been in development for five years, allows customers to trade in their used Ikea-brand furniture in exchange for store credit. The company plans to offer this service at its Brooklyn store in September, marking its availability nationwide.
Customers can obtain an estimated value for their furniture through Ikea's website before bringing the items to a store for drop-off and credit issuance. Over the past five years, the program has repurchased approximately 53,000 items. For instance, a large black Kallax bookcase with minor scratches might fetch $69.65 in store credit, while a new version sells for nearly $300.
Ikea employees inspect the returned items, and some may require cleaning or minor repairs before being resold in the store's 'As-Is' section. This program appeals to a broad customer base, including those seeking affordability and individuals interested in unique or discontinued designs. Walker noted that some higher-priced items, such as pieces from the Stockholm collection, have been bought back, as well as a post-modern executive desk from the 1980s.
Beyond financial savings, the buyback program has shown a significant impact on customer loyalty, with participants visiting Ikea stores 50% more frequently in the six months following their participation. Ikea views this secondhand business not merely as a side venture but as a significant growth area for the company.