IKEA Plans To Offer Furniture Rentals In The Future

The leasing strategy certainly fits the direction the company is moving in. IKEA has played a huge role in leading sustainability in the retail industry.
Instagram/@ikeacanada

Like home ownership in big cities, buying furniture is expensive. And with the the way things are moving — with more and more rental services popping up — renting furniture only seems natural.

The concept isn’t new, companies like easyhome have offered Canadians weekly and monthly leases on furniture for over a decade.

Now IKEA, the world’s largest furniture company, is looking to get into the business.

The leasing strategy certainly fits the direction the company is moving in. IKEA has played a huge role in leading sustainability in the retail industry.

Near the end of 2018, IKEA launched its Sell-Back Program. The program aims to reduce furniture waste by offering customers credit in exchange for their old Billy Bookshelves and more. And each year, IKEA has invested into becoming a more environmentally sustainable business.

In fact, IKEA’s Head of Sustainability, Brendan Seale, says that the furniture conglomerate has plans to only use recyclable and reuseable materials by 2030.

ikea furniture rentals
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IKEA furniture rentals are certainly in line with the company’s strategy to reduce furniture waste and extend the life of products.

The concept will launch as part of a pilot program in Sweden, with chairs and desks available for rent.

“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,” Inter IKEA’s Chief Executive Torbjorn Lööf told the Financial Times.

ikea furniture rentals
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The sharing economy is expanding quickly, and the fact that a big company like IKEA realizes its potential speaks a lot to consumer trends.

Not only is renting furniture, clothing, homes, and cars more sustainable and financially feasible, it also answers the consumer need for change — it allows customers keep up with trends and swap styles without commitment.

As of right now, there’s no word on when the program will make its move to North America. But if shopping trends continue to move in the direction of rentals and sustainability, it’s likely to be apart of our lives soon enough.

Featured image: Instagram/@ikeacanada

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