(Stockholm) Swedish furniture giant IKEA launched a marketplace in Oslo and Madrid this summer to sell and buy second-hand items from its brand, which it will test until December before possibly rolling out to the general public.
“We are currently testing a second-hand digital marketplace in Oslo and Madrid to help customers connect, buy and sell second-hand IKEA products with each other,” Tolga Öncü, Ingka’s chief operating officer, said in a message to AFP on Monday, confirming a report from the Financial Times.
Ingka brings together most of IKEA’s stores worldwide and accounts for more than 90% of its total turnover.
The platform was launched this summer and the test will last until December, according to the head of the Swedish brand. The group will then make a decision on the development of this platform called Preowned.
“During this period, we are continuously interacting with users to understand their behaviors, interests and attitudes towards a second-hand digital marketplace,” added the Ingka manager.
The service is free and the buyer and seller agree directly on the place of exchange of the product.
The seller can choose to be paid or receive an IKEA voucher with an additional 15% credit to spend, within three years in Norway or indefinitely in Spain.
“We will check the full scope of this measure, including the economic one. If a lot of people use the offer to get a discount at IKEA, it is a good way to reconnect with customers,” Jesper Brodin, Ingka’s chief executive, told the FT.
“I’m very curious. I think it’s a good idea from a business perspective,” he added.
According to IKEA, the global second-hand furniture market is growing rapidly, with an expected annual growth rate of 6.4% by 2024. About 10% of the second-hand furniture market is made up of its own branded products, according to the group.