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Secondhand Gross sales Surge Amongst Youthful Shoppers
Furnishings retailer Ikea is testing a furnishings buyback and resale program within the US, aiming to capitalize on youthful shoppers’ affinity for secondhand items. Ikea is among the many nationwide retailers providing greener merchandise to attraction to customers who wish to do their half to guard the setting. Hole (GPS), Macy’s (M), Madewell, and different retailers are partnering with ThreadUp to resell clothes and check the marketplace for secondhand attire and equipment.
A current survey of Gen Z customers discovered that 47% of teenagers have purchased secondhand merchandise and 55% have offered it. A lot of the curiosity has been for used clothes however Ikea is betting that secondhand furnishings may also be successful.
Ikea to Develop After Check
Ikea is launching a pilot program in its Philadelphia-area retailer later this month. Whether it is profitable, Ikea desires to develop this system to different markets. Prospects who’re a part of the retailer’s loyalty program can promote their used Ikea furnishings and obtain a retailer credit score in change. Ikea will resell the gadgets in its “as-is” part of the shop, which is residence to discounted gadgets. The loyalty program is free and open to all prospects.
The quantity of retailer credit score shoppers will obtain for totally assembled furnishings will rely upon the merchandise’ situation, age, and use case. Some gadgets, together with dressers, won’t be a part of this system.
Secondhand Initiative Is A part of Ikea’s Carbon-Constructive Plans
Ikea already has furnishings buyback packages in a number of different nations together with the UK, France, and Canada. That is a part of the corporate’s efforts to be carbon-positive by 2030. Late in 2019, Ikea’s dad or mum firm, Inter Ikea Group, introduced plans to take a position €200 million to satisfy its carbon-positive objectives.
Launching a furnishings buyback program within the US won’t be with out challenges. An enormous one is how prospects will get the furnishings to the shop. Ikea shouldn’t be masking the price to move the totally assembled gadgets, which may forestall some shoppers from taking part. It additionally has to compete with the likes of Craigslist and LetGo, which make it straightforward to promote used furnishings regionally.
Ikea faces hurdles on its path to turning into carbon-positive. It is going to be attention-grabbing to see if a furnishings buyback program takes off and helps the retailer obtain its objectives.
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