Ikea Takes On eBay And Craigslist With New Secondhand Furniture Marketplace

In a bold move, Ikea is set to rival online platforms such as eBay EBAY, Craigslist, and Gumtree by introducing a peer-to-peer marketplace for customers to trade used furniture.

The innovative platform, named “Ikea Preowned,” will be trialed in Madrid, Spain and Oslo, Norway until the year’s end, with the intention of a global rollout, as stated by Jesper Brodin, CEO of Ingka, the main operator of Ikea stores, Financial Times reported on Thursday.

This marketplace is a significant step in Ikea’s evolution from a traditional out-of-town retailer to a digital enterprise offering online sales, city-center stores, and services such as assembly.

See Also: Trump Vs Harris: Kamala Harris Takes 8-Point Lead In New Poll, With Race And Gender Shaping Voter Preferences

The secondhand furniture market is a thriving industry, and Ikea’s new platform aims to capitalize on this trend. The platform will enable customers to list their products, determine a selling price, and upload their own images. Ikea’s AI-enabled database will enhance these listings with promotional images and measurements.

As per Brodin, Ikea’s market share in the secondhand furniture market surpasses that in new furniture sales. This innovative platform could potentially re-establish Ikea’s connection with customers, providing sellers the choice to receive money or a voucher from Ikea with a 15% bonus.

Read Next:

• Nate Silver Sees Convention Bounce Nearly Doubling Kamala Harris’ Lead Vs. Donald Trump: Here’s Why He Expects Vice President’s Lead To Increase Further

Image via Unsplash

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari