Buyback Initiative Announced by Ikea

The second-hand furniture industry could receive an unexpected revitalization following the COVID-19 pandemic. It’s been announced by Ikea, the most prominent furniture manufacturer & seller worldwide, that they’re launching a subsidiary initiative based around second-hand furniture.

The Swedish-established retailer is launching their “Buyback Initiative” in November 2020. Multiple products not needed inside homes can be sold to Ikea. However, various conditions apply towards the permittance of resale & the valuation of funds awards to selling customers.

Ikea’s marketed that the Buyback Initiative will award consumers with 50% the valuation of their furniture items original cost. However, Ikea Dollars are provided throughout the Buyback Initiative & not genuine cash. There are also conditional factors on the percentage of funds awarded when reselling second-hand furniture to Ikea.

Point One: Second-hand furniture without scratches receives 50% of the original price.
Point Two: Minor damage not exceeding two scratches allows for a 40% return on the second-hand furniture’s original cost.
Point Three: Damage sustaining more than several scratches & indents will prompt a 30% return on the original price.
Point Four: Ikea isn’t allowing for upholstered furniture under their Buyback Initiative. Consumers can resell their Bookcases, Stools, Chairs, Dining Tables, Desks, Dressers, Night Tables, and any other furniture not associated with upholstered leathers or fabrics.

Recycling Efforts

The Ikea Company has launched its “Buyback Initiative” to enhance its recycling efforts. It’s hoped that dedicated customers to their brand will recycle second-hand furniture & receive considerable discounts for their actions of recycling. That’s why 30% is still be awarded to consumers with irreparably damaged furniture. It’s more about eliminating carbon emissions & horrible materials for our environment. Considering that Ikea is a Swedish-established corporation, it’s unsurprising that executives have implemented exceptional dedication towards fighting climate change. Ikea has promised to become a fully functioning environmentally friendly corporation by 2030. Most companies of their scale haven’t made similar promises.

Ikea will resell second-hand furniture that’s in right conditions, with damaged products being recycled at designated facilities. Customers wanting Ikea furniture for cheaper costs will receive good discounts when shopping in the second-hand aisles. There’ll also be a dedicated “Ikea Auction Website” for second-hand sales, with shipping options available through that site. This venture could prove financially & environmentally beneficial for Ikea.