NEW YORK (March 14, 2022) - Back Market, the leading renewed electronics marketplace, has launched its BuyBack program in the US. BuyBack allows Back Market customers to sell their devices directly to an extensive network of professional refurbishers for the most competitive rates. This program is another major step forward in the company’s mission to bolster the circular economy and prolong the lives of electronics.
In addition to providing an easy, fast and efficient way for people to get the maximum value from their old electronics, it also opens another supply channel for refurbishers on Back Market, who will be bidding on customers’ devices. Lauren Benton, General Manager at Back Market, explains:
“Our BuyBack program is a win-win for everyone. For customers, it’s a convenient and fast way to sell their used electronics. For our refurbishers, it’s access to another supply channel of used electronics to restore and sell. This keeps devices in circulation and out of landfills, while continuing to feed Back Market’s pipeline of high-quality renewed devices.”
Buying new technology strains our world
Brand new electronics have a huge environmental footprint. A new phone releases 190 lbs of carbon emissions in its lifetime, while a refurbished smartphone only produces 15 lbs. That same smartphone also uses up 21,741 gallons of water in the process of mining for raw materials and manufacturing it — an amount that is equivalent to one person’s 8 glasses of water a day for 112 years. A renewed smartphone’s footprint is a fraction of that.
By keeping devices in circulation through repair and refurbishment, we can make the most out of the resources initially exploited in the manufacturing process while reducing electronic waste.
Americans discard 416,000 Cell Phones every day
The vast majority of Americans have electronics laying around their homes. It is estimated that there are upwards of 100 million devices sitting in drawers across the country. Back Market’s BuyBack program aims to get more of these items back in circulation by making it easy and lucrative for current owners to sell them to refurbishers.
In just a few minutes, customers can complete an assessment of their device (answering questions about the brand, model, storage capacity, functionality, and the condition of the screen and body) and get the best offer among the bids placed by Back Market’s refurbishers. While bids may fluctuate based on market demand, this unique structure gives the best opportunity for customers to receive competitive offers for their items. A customer receives cash in their bank account once they have mailed in their device and the refurbisher has confirmed that the device is as described in the assessment.
To kick off the program, Back Market is hosting a “Slices for Devices” pop-up on April 9th. Back Market will take over New York’s beloved Zazzy’s pizza shop for the day where it will provide instant payment for devices turned in on site — along with an opportunity to win a free year’s worth of pizza. h of free pizza.