Ingka Group, the largest operator of Ikea stores worldwide, has been testing a new peer-to-peer resale marketplace in Madrid and Oslo this summer.
The platform allows customers to connect directly in order to sell and buy used Ikea products. The pilot platform is free of charge and offers users recommended prices, professional photos and precise measurements for their listings. Each listing also includes detailed product descriptions, assembly guides and care instructions. So far, most of the listed products are for living room, children’s and storage products, reported Ingka.
“The global secondhand furniture market is growing rapidly, with a projected annual growth rate of 6.4% in 2024,” said Jesper Brodin, Ingka Group CEO in a statement. “Already today, 10% of the secondhand home furnishing market is made up of Ikea products. With this platform we see possibilities to simplify and enhance the experience for both sellers and buyers.”
The test will continue through December, during which time “we will be continuously interacting with users to understand customers’ behaviors and interests toward a digital secondhand marketplace, as well as what it would mean for us from a business perspective,” said Brodin. “After December we will evaluate and decide on the next steps.”
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The new initiative is part of the company’s ongoing efforts to prolong the life of its products. Ikea stores around the world have long had “As-Is” sections featuring damaged and returned items at discounted prices. In November 2021, Ikea also launched a Buy Back & Resell service at 33 stores across the U.S., following a pilot in Conshohocken, Pa. That program gives Ikea Family members the opportunity to sell back gently used Ikea furniture in exchange for store credit. Those secondhand products are then sold in the stores’ As-Is section and online. Ikea also has been investing in recycling initiatives like RetourMatras, which recycles mattresses into materials for new mattresses.
