Key facts
- Ikea is piloting an online buy-back service for secondhand furniture in Spain and Portugal.
Ikea is testing an online buy-back service for secondhand furniture in Spain and Portugal, offering vouchers for unwanted items. The initiative, which could expand to the UK, aims to tap into the growing secondhand market and compete with platforms like Vinted and eBay.
Ikea's expansion into online secondhand sales reflects a broader retail trend towards sustainability and circular economy models, potentially impacting traditional furniture sales and increasing competition for resale platforms.
Ikea is piloting an online version of its buy-back service, offering vouchers for unwanted secondhand furniture, in Spain and Portugal before the end of December. If successful, the service will be rolled out in the UK. This initiative aims to extend Ikea's existing in-store buy-back program to a broader customer base.
The move comes as Ikea launches its own secondhand online marketplace in the UK, designed to compete with platforms like Vinted and eBay. The platform allows Ikea membership scheme subscribers to buy and sell pre-owned Ikea items locally. Initially free in the UK, a buyer protection fee of approximately 5% of the item's price will be introduced later. Collection and delivery arrangements will be managed directly between buyers and sellers.
Ikea predicts that pre-owned goods will account for 16% of the UK homewares market by next year. The secondhand home products market in the UK is currently valued at over £4.5 billion and is growing at an annual rate of 6.5%. Ikea products represent about 9% of furniture sold on secondhand marketplaces in the UK. To facilitate sales, Ikea will provide pre-filled product descriptions and price suggestions, and offers sellers an additional 15% value if they opt for payment via an Ikea gift card.
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