IKEA offers to buy back furniture for resale
Company says 'Buy Back' initiative is part of aim to become 'climate positive' by 2030
(Reuters) - People tired of their flat pack IKEA dressers, drawers, cabinets and tables will now be able to sell them back to the furniture retailer for resale in its stores as secondhand.
The world's biggest furniture group, said on Tuesday the "Buy Back" initiative was part of its aim to become "a fully circular and climate positive business by 2030."
Under the scheme customers will get vouchers to spend at IKEA stores, the value of which depends on the condition of the furniture they are selling back.
The initiative will be promoted in a campaign running from Nov. 24 through to Dec. 3, though the offer will continue after that date.
JPMORGAN CEO WARNS BUSINESSES WON'T SURVIVE MORE CORONAVIRUS LOCKDOWNS
Customers with "as new" items, with no scratches, will get 50% of the original price, "very good" items, with minor scratches, will get 40% and "well used," with several scratches, will get 30%.
One possible catch for customers from the scheme is that products must be returned "fully assembled."
IKEA said vouchers will have no expiry date to encourage customers to purchase items only when they are needed.
EVEN IN PANDEMIC, AMERICAN SHOPPERS LIKE VISITING STORES
"By making sustainable living more simple and accessible, IKEA hopes that the initiative will help its customers take a stand against excessive consumption this Black Friday and in the years to come," it said in reference to Nov. 27, when lots of retailers offer big discounts on their products.
IKEA said that anything that cannot be resold will be recycled or donated to charity.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
By 2021, IKEA plans to have dedicated areas in every store where people can sell back their old furniture and find repaired or refurbished furniture.
Last week, IKEA said it sees sales returning to growth this year after the coronavirus crisis boosted shoppers' interest in spending more on their homes, a trend it believes is here to stay.
CLICK HERE TO READ MORE ON FOX BUSINESS
(Reporting by James Davey; Editing by Jane Merriman and Keith Weir)