Ikea Expands Resale Program and US Footprint
Ikea's strategy of reselling older and vintage furniture through its "as-is" section is proving successful with environmentally conscious consumers. In a separate move to expand its US presence, the company also announced it will open its first store in Oklahoma, located in Tulsa, later this year.
- The "Buy Back & Resell" program has been significantly expanded and now includes nearly 3,000 items, with over 700 new product types recently added. This expansion now allows customers to sell back a wider range of used Ikea furniture and home goods, including vintage pieces, in exchange for store credit. - The number of items returned through the program nearly doubled in two years, from 8,000 in 2023 to 14,700 in 2025, with most resold items being purchased from the "As-Is" section within 48-72 hours. This initiative is part of Ikea's goal to become a circular business and reduce the 9 million tons of furniture that end up in U.S. landfills annually. - The new Tulsa store, expected to open in the fall of 2026, will be the first Ikea location in Oklahoma. It will be a smaller format store with a 51,000-square-foot footprint located in the Tulsa Hills Shopping Center. - The Tulsa location is projected to generate an additional $30-40 million in revenue for the city and over $100 million for the Tulsa Hills area, drawing shoppers from neighboring states like Arkansas, Kansas, and Missouri. - This new store is part of a broader $2.2 billion investment by Ikea in its U.S. omnichannel growth strategy. In 2025 alone, the company plans to open 14 new retail locations, including small-format stores and Plan & Order points. - Studies on the economic impact of new Ikea stores in a municipality have shown an increase in durable goods revenues by about 20% and a rise in retail employment by approximately 17%. - In fiscal year 2025, Ikea U.S. reported $5.3 billion in total sales, with $1.9 billion from e-commerce, and its IKEA Family rewards program grew by 17% to 25 million members. - As part of its sustainability efforts, Ikea also provided over 373,000 spare parts to customers in FY 2025 to help extend the life of its products.
