IKEA Expands Second-Hand Market with Home Buyback and Digital Marketplace
IKEA is launching a home pickup buyback service and a second-hand digital marketplace in Europe, capitalizing on a booming market projected to reach 16% of furniture sales.
Swedish furniture giant IKEA is significantly expanding its presence in the second-hand market with a new digital initiative allowing customers to sell back used furniture directly from their homes in exchange for store credit. The initial pilot will launch in Spain and Portugal before the end of the year, expanding later to the UK and other European countries.
Alongside the home pickup service, IKEA is rolling out a digital marketplace platform enabling loyalty club members to trade second-hand items directly with each other. The system assists sellers with structured descriptions and recommended bargaining prices, offering a 15% bonus on sale value for those who choose store credit.
The moves come amid unprecedented growth in second-hand consumption. According to IKEA data, the UK second-hand home goods market alone turns over approximately 4.5 billion pounds, growing at an annual rate of about 6.5%, with roughly 63% of British consumers having purchased used items over the past year. Greg Lucas, sustainability manager for IKEA UK and Ireland, noted that the second-hand market has entered the mainstream.
Industry estimates suggest the second-hand sector is expected to capture about 16% of the total home furniture market as early as the coming year, with IKEA products currently accounting for around 9% of items sold on secondhand platforms. However, consumers in Israel will have to wait, as the service is currently undergoing trials in Europe only and is not expected to arrive at local branches in the near future.
