Ikea secondhand furniture venture

One of the biggest brands worldwide will buy back your old stuff under the Ikea secondhand furniture venture. The Swedish organization is about to launch its new scheme next month. So, get ready with all those old and wobbly furniture at home, because Ikea will buy back all of them. The plan is to give the sellers a voucher costing up to 50% of the old furniture’s actual price. Therefore, a person can cash-out the coupon at any of the Ikea stores.

The Ikea secondhand furniture venture will start functioning on an eventful day, which is Black Friday. According to a spokesperson from Ikea, the experience is a move towards sustainable living. Life must be more accessible and simpler, and Ikea wants to ensure that people refrain from excessive purchasing on Black Friday. It is to make sure that there are enough resources left for consumption in the upcoming years. The spokesperson was referring to Black Friday, November 27. It is an event when several retailers offer huge discounts to encourage people to buy more.

Ikea is planning to launch this scheme, which is already receiving appreciation from other countries too. Their customers will receive vouchers to encash in any Ikea stores. However, the voucher value will indeed depend on the furniture’s condition when you want to sell. The first step for a customer will be to log-in to the item that the person is willing to sell. After that, the company staff will look into the condition and revalue the item. Therefore, you will receive a final estimate of the absolute value of the furniture.

Ikea secondhand furniture venture: a rough calculation of resale value

The rough calculation of evaluation is that new items with zero scratches will fetch 50% of its price. It will be 40% for the right pieces with minor scratches. Finally, it will be 30% of the total price voucher if the item you are selling is quite old and comes with several scratches. Moreover, the staff will reassemble the thing and return it to the desk. Here, you will get to know about the final estimation. It will be your call after that whether or not to sell-off the piece.

The new venture will launch in 27 countries across the world. Besides, the offer is majorly applicable to furniture without any upholstery. For example, Billy bookcases, dining tables, chairs, desks, and stools are the best fit for the venture. Ikea also says that anything they cannot resell will be a part of the recycling push.

New plans of Ikea: Additional ventures and stores

The Swedish Giant’s plan is to continue this venture to exchange old furniture for newer designs. Besides, this initiative is not new, apart from the fact that the motive may differ now. Ikea started with some classic furniture designs in 1948. Moreover, it is a delightful surprise that some of those vintage designs will be on sale after this venture’s launch. There are auction websites that showcase Ikea’s vintage designs.

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The plan to launch the second-hand venture is not new. The research and development are undergoing finalization for a year now. Their primary focus for reselling was on Glasgow and Edinburgh. Presently, Ikea is aiming to improve as an environment-friendly brand. Besides, they want to become one of the best climate positive and completely circular organizations by 2030. A fully circular business is that which produces, reuses, and recycles its materials. Moreover, Ikea also plans to launch several outlets by the end of 2020.

Ikea is planning to open 50 new stores with all the franchisees worldwide, including the UK. It will be joining the 445 Ikea outlets that already exist. One of the biggest Ikea franchisees reveals that demand for their products is rising. It seems that more people want to renovate and refurbish their homes during the pandemic and lockdown. The present sales figure of Ikea till August shows the revenue of £36billion or €39.6 billion.

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