Ikea is growing its resale business. It's attracting bargain hunters and design nerds.
Ikea expands its buyback program to all US stores, appealing to budget-conscious and design-savvy shoppers in the growing secondhand market.
Ikea is expanding its resale business, attracting bargain hunters and design enthusiasts. The retailer has bought back 53,000 items through its secondhand division over the past five years. Ikea will offer the buyback and resell program at all US stores starting in September. Customers can get store credit for their old Ikea furniture and resell it at the chain's stores.
The program appeals to price-conscious shoppers and design lovers, as used furniture is often cheaper than new pieces and showcases unique designs not typically found in large showrooms. Ikea inspects and repairs items before reselling them in the As-Is section. The buyback program has increased customer loyalty, with participants visiting Ikea stores 50% more frequently in the following six months.
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