The Swedish furniture retail giant is introducing a new initiative in November for it to buy back customers' unwanted IKEA products for up to half of the original price.
The company said the pieces will then be resold as second-hand furniture, creating a more sustainable solution for getting rid of unwanted furniture. IKEA already produces more energy than it consumes and this new initiative aims to help it reach its goal of being a fully circular, climate positive business by 2030.
Buy Back pieces will be graded when traded in, with pieces deemed to be "as new" fetching 50 per cent of the original price, "very good" pieces 40 per cent and "well-used" pieces 30 per cent.
The furniture will be resold in 'As-Is' areas within its stores, with anything that can't be sold either recycled or donated to community projects. "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," said IKEA's country sustainability manager for UK and Ireland, Hege Sæbjørnsen.
“Currently, 45 per cent 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.”