In a massive effort to encourage recycling and combat climate change, IKEA, the world’s biggest furniture business, is launching ‘Buy Back’ initiative. Through this scheme, it will buy back its furniture items that its customers no longer need or want.
As part of this initiative, which will coincide with Black Friday, IKEA will offer its customers vouchers worth up to 50 per cent of the original price that can be spent at its stores. However, the vouchers will also depend on the condition in which the original items are returned.
According to IKEA, “As new” furniture items, with no scratches, will help customers earn 50% of the original price whereas “very good” items, with minor scratches, will get 40%. However, “well used”, with several scratches, will get 30% of their original value.
Interestingly, the Ikea refund cards will come without any expiry date to encourage customers to buy products only when really them.
The Swedish retailer confirmed that the returned furniture will then be resold as second hand furniture. And items that cannot be resold will be recycled.
“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,” IKEA said in a statement.
The initiative will be launched in 27 nations across the world and would typically cover furniture items without upholstery, such as the famous Billy bookcases, chairs, stools, desks and dining tables.
The retail giant, which has been running pilot programs for furniture reselling in the United Kingdom, plans to become a become a fully circular and climate positive business by 2030. A circular business refers to one that reuses or recycles materials and products.
“Sustainability is the defining issue of our time and IKEA is committed to being part of the solution to promote sustainable consumption and combat climate change,” country retail manager and chief sustainability officer of IKEA UK and Ireland Peter Jelkeby said.
“With the launch of Buy Back we are giving a second life to many more IKEA products and creating more easy and affordable solutions to help people live more sustainably.”
To further the goal of becoming a circular company, IKEA is also launching its launching its first second-hand store in Eskilstuna, Sweden, later this year.
What do you think about this new initiative by Ikea? Let us know your views in the comments section below.