Back Market Celebrates 10 Years, Launches New Services and Partnerships
Refurbished electronics marketplace Back Market hosted its first global press conference in Paris to mark its 10th anniversary. The event unveiled new features and collaborations aimed at strengthening the company's market position.
Back Market, a marketplace for refurbished electronics, convened its inaugural global press conference in Paris on September 19, 2024. The event commemorated the company's decade in business and introduced a suite of new services, partnerships, and features slated for release in 2024 and 2025. The "Downgrade now!" initiative aims to further establish refurbished technology as a mainstream choice.
Co-founder Thibaud Hug de Larauze, alongside Chief Marketing Officer Joy Howard, Chief Product Officer Amandine Durr, and tech expert Kewin Charron, presented the company's vision for the next ten years. "We are not just expanding the refurbished market; we are building a sustainable future," Hug de Larauze stated, emphasizing a shift towards making refurbished tech the primary option for consumers seeking to reduce environmental impact.
Since its founding in 2014, Back Market has aimed to normalize the purchase of refurbished devices, demonstrating the viability of the circular economy as a profitable business model. Hug de Larauze reported that the company is now profitable in Europe, with significant success in France and Spain, indicating a growing consumer acceptance of refurbished goods.
Several strategic partnerships were announced to bolster Back Market's presence. In France, an expanded collaboration with telecom provider Bouygues will offer more affordable monthly plans with refurbished phones. In the U.S., customers purchasing smartphones on Back Market will receive an introductory offer for Visible by Verizon's unlimited plan. Additionally, Back Market has become the official trade-in partner for PlayStation, enabling consumers to get better deals when exchanging old gaming consoles.
Chief Product Officer Amandine Durr detailed product enhancements, including a new "Premium" device grade, positioned above "Excellent," and a mobile application offering tips for device maintenance and longevity. A "Shake to Trade-in" feature is scheduled for November, simplifying the exchange process. In 2025, an AI-powered device comparison tool will be integrated into the app to assist consumers in making informed purchasing decisions.