Back Market Marks 10th Anniversary and Achieves Profitability in Europe
Refurbished electronics marketplace Back Market is celebrating a decade in business and has announced profitability in Europe. The company is expanding its services and launching new partnerships.
Back Market, a global marketplace for refurbished electronics, is celebrating its 10th anniversary and announced that it has achieved profitability in Europe. The company's founder and CEO, Thibaud Hug de Larauze, revealed the news at a press conference in Paris, where new product innovations, strategic partnerships, and a global marketing campaign were also unveiled.
Over the past decade, Back Market has sold nearly 30 million devices to 15 million customers across 18 countries. The company aims for 90% of consumers to choose refurbished tech and appliances over new ones in the future, a shift that would significantly reduce carbon emissions and electronic waste.
Among the new offerings is an enhanced "Back Market Promise" quality standard, which includes a one-year warranty and a 30-day money-back guarantee. The company is also introducing a "Premium" product tier for lightly refurbished devices, an updated "Shake to Trade-in" app for easier device exchanges, and a "Your Devices" tool for tracking personal electronics.
To fuel growth, Back Market has formed new partnerships. In France, it is deepening its collaboration with Bouygues Telecom, expanding into physical store presence. In the U.S., a partnership with Visible by Verizon offers affordable mobile plan bundles. Collaboration with PlayStation establishes Back Market as their official device trade-in partner in the U.S.
Back Market also launched a new marketing campaign titled "Downgrade Now." The campaign highlights the value of technology from previous years and encourages consumers to save money and reduce their environmental impact.