The Swedish furniture retailer, IKEA is taking a leaf out of the eBay story book with the launch of a new peer-to-peer marketplace through which customers can sell second-hand items to each other.

IKEA Preowned will be piloted in Madrid and Oslo until the end of the year, providing a testing ground upon which the retailer will assess and understand consumers’ behaviours and interests towards the platform. 

After December, IKEA will evaluate and decide on the next steps, with the potential to roll the service out globally, says Ingka Group’s ceo, Jesper Brodin.

The pilot platform is free of charge and lets its users receive recommended prices, professional photos, and precise measurements. Each listing also includes detailed product descriptions, assembly guides, and care instructions. The buyer collects the furniture directly from the seller who has the option of receiving money or a voucher from IKEA with a 15% bonus.

“The global second-hand furniture market is growing rapidly, with a projected annual growth rate of 6.4% in 2024,” said Jesper. “Already today, 10% of the second-hand home furnishing market is made up by IKEA products. With this platform we see possibilities to simplify and enhance experience for both sellers and buyers.”

Over the course of IKEA’s gradual and ongoing transformation towards a circular economy for home furnishings and furniture, the retailer has to date had a small offering under which it buys used products from customers and resells it in store. The new platform is a more ambitious concept, engaging with a second-hand market for customers to sell directly to each other.

Jesper estimates that IKEA has a higher market share in this department than in new furniture sales. A full roll-out of the platform could therefore come with an eventual charge, but would remain a “symbolic fee, a humble fee,” Jesper tells the FT.

“We’re going to verify the full scope including the economics. If a lot of people use the offer to get a discount with IKEA – it’s a good way to reconnect with customers. I am very curious. I think it makes business sense.”