There is no doubt that Ikea has changed the way people purchase and use furniture products, not just in the United States but also in other regions. Now, the company is developing various methods to increase product lifespan, and one of them is to start a furniture rental program. Through this program, customers can rent a piece of furniture and use it until the time of the lease program expires.
According to what Financial Times reports, Ikea is now working on scalable subscription programs that can be beneficial for the customers as well as the company. Talking about the rental program it’s proposing, the CEO of Ikea said that users can return the furniture once the leasing period ends. If interested, they will be able to pick another piece of furniture as well. What happens to this furniture is more interesting.
According to the strategy of Ikea, these products would not be thrown away or destroyed. Instead, the firm wants to refurbish the products and make them sellable again. This would, in turn, improve the life-span of the product, says the executive. A trial of the program is supposed to start in Switzerland, which, according to the company, is a potential market.
“You could say leasing is another way of financing a kitchen. When this circular model is up and running, we have a much bigger interest in not just selling a product but seeing what happens with it and that the consumer takes care of it,” CEO of Ikea was quoted saying by Financial Times. It’s clear that Ikea would be expanding the service to other regions pretty soon.
In the US itself, Ikea has been trying to enhance the overall customer experience. For instance, it’s planning to launch mini-stores in Manhattan. According to Ikea officials, the company is also trying to reduce the total impact on the environment.