IMPORTANT ANNOUNCEMENT: MyWalletHero is becoming The Motley Fool UK - click here to read more about our name change.

What you need to know about IKEA’s buy back scheme

What you need to know about IKEA’s buy back scheme
Image source: Getty Images.

The IKEA buy back scheme due to launch last November will finally be rolled out when restrictions on non-essential shops ease. Here’s a reminder of what it’s all about.

What is the IKEA buy back scheme?

It pretty much does what it says. IKEA will buy back your used IKEA furniture in return for a refund card which can be used in store. Your pre-loved furniture will then be sold online or in store. If it can’t be sold, as much of it as possible will be recycled.

The scheme is set to start as soon as non-essential shops can reopen. Based on the government’s roadmap, that’s potentially 12 April 2021 but will be subject to evolving coronavirus data.

The IKEA buy back programme was originally unveiled towards the end of last year and was trialled in IKEA’s Edinburgh and Glasgow stores. A full rollout was meant to happen in November 2020, but it had to be postponed thanks to the pandemic.

Why has IKEA launched its buy back scheme?

It’s all about sustainability and IKEA says “it also helps us to become more people and planet positive and to transform into a circular economy”.

The move is the latest initiative in IKEA’s drive towards sustainability. The flat-pack giant has already vowed on its website that all of its products will be made from recycled or regenerative materials by 2030.

What will IKEA buy back?

Naturally, IKEA won’t be buying back any old junk you want to flog. For starters, items must be from IKEA and should be in good condition. Only certain items will be considered too.

Currently, IKEA will only consider ‘hard furniture’ like tables, bookcases, chairs and cabinets. And they must be fully assembled.

Soft and upholstered products like mattresses, sofas and textiles won’t be accepted. You can find a full list of what’s included in the scheme in IKEA’s buy back terms and conditions.

All items will be checked by an IKEA expert and priced accordingly. If an item is considered to be as good as new, you’ll get back 50% of its original value. A few minor scratches will mean you get back 40% and if it’s got lots of scratches, you’ll get 30%.

Is the IKEA buy back scheme worth doing?

The initiative is all part of a worthy cause. And there are few people who could argue against the importance of being less wasteful and looking after the planet. But, whether you want to hump your Billy bookcase to your local store is entirely up to you.

Remember, there are other ways to sell or recycle old and unused furniture. Sites like eBay, Facebook’s Marketplace, and Gumtree (check out Sean’s article on Gumtree) are just a few examples of where you can advertise your old stuff.

Importantly, with these platforms, you can specify that buyers must collect, so you can leave all the huffing and puffing to them.

Could you be rewarded for your everyday spending?

Rewards credit cards include schemes that reward you simply for using your credit card. When you spend money on a rewards card you could earn loyalty points, in-store vouchers airmiles, and more. The Motley Fool makes it easy for you to find a card that matches your spending habits so you can get the most value from your rewards.

Was this article helpful?

Some offers on The Motley Fool UK site are from our partners — it’s how we make money and keep this site going. But does that impact our ratings? Nope. Our commitment is to you. If a product isn’t any good, our rating will reflect that, or we won’t list it at all. Also, while we aim to feature the best products available, we do not review every product on the market. Learn more here. The statements above are The Motley Fool’s alone and have not been provided or endorsed by bank advertisers. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Barclays, Hargreaves Lansdown, HSBC Holdings, Lloyds Banking Group, Mastercard, and Tesco.