Ikea & M&S Launch Resales & Repairs Platforms
Published 30 August 2024
Capitalising on its products’ existing resale value – they comprise 10% of the second-hand home furnishings market (Ingka, 2024) – Swedish furniture giant Ikea is launching an online resales pilot, Ikea Preowned. Meanwhile, UK-based retailer Marks & Spencer’s (M&S) new initiative services the 90% of Brits lacking the confidence to repair their own clothing (M&S, 2024).
Ikea’s Digital Resales Marketplace Automates Listings
Ikea’s platform, first tested in Madrid and Oslo until the end of the year, before adding more regions, apes the likes of Spanish fast fashion giant Zara and Danish brand Samsøe Samsøe in generating a professional-looking listing when owners upload their item’s details.
Resellers either type the product’s name into the site or take a photo, with the system using image recognition technology. An algorithm then generates a listing, showing the original and recommended resale prices alongside precise measurements and original photos, thereby making listings more attractive to buyers than their equivalents on third-party sites.
Sellers can choose between receiving 100% of the price if they’re remunerated via bank transfer (with Ikea making no profit) or 115% of the price if they choose Ikea credit. Vendors and buyers agree on a place for the goods’ delivery independently.
Ikea already operates an in-store buyback service, which attracted more than 211,600 visitors globally in 2023; it also repaired 45.1 million products worldwide, up from 42.6 million in 2022 (Ingka, 2023). The furniture recommerce market is expanding, set to grow by 6.4% by the end of 2024 (Ingka, 2024).
M&S’s Door-to-Door Repairs Service
M&S’s partnership with British repairs app Sojo sees customers book services via a microsite, with clothing picked up and returned to their homes within seven to 10 days.