Ikea to pilot online buyback service for secondhand furniture

What happened: Ikea will pilot an online buyback service in Spain and Portugal before end of December, offering vouchers for secondhand furniture, and launch a secondhand marketplace in the UK this week. Key numbers: Pre-owned goods may reach 16% of the UK homewares market by next year. UK secondhand home products market worth over £4.5bn, growing about 6.5% annually. Ikea products are about 9% of furniture sold on UK secondhand marketplaces. Why it matters: Ikea is taking on Vinted and eBay in secondhand retail, where competition is heavy and secondhand shopping is now mainstream.

Ikea's online buyback pilot signals new secondhand furniture market entry.

Ikea's online buyback pilot signals new secondhand furniture market entry. — impact context not separately stored; see What changed.