This initiative reflects Ikea's long-term goal to enhance its digital offerings and promote sustainability by encouraging the reuse of furniture.

Customers can list their Ikea items for sale on the platform, complete with photos and pricing, while Ikea's AI technology enhances these listings with promotional images and measurements.

Sellers have the option to receive payment in cash or an Ikea voucher with a 15% bonus, valid for three years in Norway or indefinitely in Spain.

This initiative aligns with Ikea's sustainability goals by promoting a circular economy and reducing waste, as the global second-hand furniture market is projected to grow significantly.

Ikea Preowned aims to compete with established resale platforms like eBay and Gumtree, marking the company's first foray into second-hand marketplaces.

Ikea has launched a new marketplace for second-hand furniture, named 'Ikea Preowned', which is currently being tested in Madrid and Oslo.

Currently, there are no fees for using the service, although Ikea's management has hinted that a small commission may be introduced in the future.

An evaluation of the project's success will be conducted after December 2023 to determine future steps.

CEO Jesper Brodin announced the marketplace during an interview with the Financial Times, highlighting its potential impact.

The platform facilitates direct transactions between buyers and sellers, who must coordinate the pickup of items as shipping is not provided.

This move is part of Ikea's broader strategy to become circular and climate positive by 2030, emphasizing the importance of reusing products.

With Ikea products accounting for about 10% of the second-hand furniture market, the company is poised to play a significant role in this growing sector.