1. Analysis
October 14, 2020

Ikea to launch “Buy Back” sustainability scheme

Furniture retail company Ikea will be launching a ‘Buy Back’ scheme to encourage customers to live more sustainably.

By Jessica Paige

Furniture retail company Ikea will be launching a ‘Buy Back’ scheme to encourage customers to live more sustainably.

Free Report
img

Unilever- A Deep-dive into Product Launches and Advertising Strategy

Unilever product advertising is mainly through mainstream TV channels. Out of the products advertised so far at least 50% (over 850) of ads have been run on TV, while print media comes second with 496 ads. Unilever also utilizes social media platforms for advertisement. Unilever products are categorized by innovation ratings and tags in our product launch database. The North American region consists of almost 74 products with innovations related to the formulation of the product. Europe and other regions also have more products categorized under formulation-related innovation, followed by the packaging and positioning of the products. Most Unilever products are tagged with “High Vitamins”, “Recyclable”, and “Natural” tags to understand what the product differentiator is from other products available in the market. The majority of products belong to the personal care industry with a total of 5,788 products to date. This report, through the Unilever Example, illustrates how GlobalData Explorer enables you to:  
  • Track product launches by FMCG companies to get an understanding of the product-level strategies including geographic concentrations, innovation types, product claim, category focus and more
  • Monitoring the advertising strategies of various brands and gain insights into channel focus, regional focus, and more
  • Perform company-level analysis to understand business model, size, and geographic focus
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

The scheme will allow customers to sell their unwanted Ikea furniture back to the retailer. The furniture will then be sold in a new ‘As Is’ section which will be replacing Ikea’s ‘Bargain Corner’. Anything that cannot be resold will be recycled.

Furniture of “as new” quality will receive a 50% refund on the original item. This refund drops to 40% for scratched items and 30% for visible signs or wear and tear.

Ikea UK’s country sustainability manager Hege Sæbjørnsen said: “the Ikea vision has always been to create a better everyday life for many people, which right now means making sustainable living easy and affordable for everyone.

“Being circular is a good business opportunity as well as a responsibility, and the climate crisis requires us all to radically rethink our consumption habits.

“Currently, 45% of total global carbon emissions come from the way the world produces and uses everyday products, so Buy Back represents an opportunity to address unsustainable consumption and its impact on climate change.”

The scheme will be launched on 27 November to coincide with Black Friday.

Ikea’s previous re-buying schemes

In 2018, Ikea launched a scheme in Edinburgh which allowed customers to exchange refurbished furniture for a reward voucher. This scheme was extended to Glasgow in 2019.

Also in 2019, Ikea announced plans to start renting certain furniture products. It also considered leasing rather than selling for kitchen furniture. However, this initiative is yet to come to fruition.

Other furniture retailers offering sustainability schemes

Earlier this year, UK-based department store John Lewis announced that it would be trialling a rental scheme in London using rental service Fat Lama. As part of John Lewis’ scheme, customers can rent furniture for three, six, or twelve months with flexible payment options.

Online furniture retailer Harth also offers rentable furniture, as well as storage solutions, lighting, art, and more. Users can list their old furniture on Harth for free and the retailer then takes a 15% commission on any sale or rental.

Free Report
img

Unilever- A Deep-dive into Product Launches and Advertising Strategy

Unilever product advertising is mainly through mainstream TV channels. Out of the products advertised so far at least 50% (over 850) of ads have been run on TV, while print media comes second with 496 ads. Unilever also utilizes social media platforms for advertisement. Unilever products are categorized by innovation ratings and tags in our product launch database. The North American region consists of almost 74 products with innovations related to the formulation of the product. Europe and other regions also have more products categorized under formulation-related innovation, followed by the packaging and positioning of the products. Most Unilever products are tagged with “High Vitamins”, “Recyclable”, and “Natural” tags to understand what the product differentiator is from other products available in the market. The majority of products belong to the personal care industry with a total of 5,788 products to date. This report, through the Unilever Example, illustrates how GlobalData Explorer enables you to:  
  • Track product launches by FMCG companies to get an understanding of the product-level strategies including geographic concentrations, innovation types, product claim, category focus and more
  • Monitoring the advertising strategies of various brands and gain insights into channel focus, regional focus, and more
  • Perform company-level analysis to understand business model, size, and geographic focus
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.