In Europe, two major specialized marketplaces for used and refurbished consumer electronics are making waves: the French platform Back Market and Austria’s Refurbed. You might be wondering: which of these two companies is selling the most devices and has the largest Gross Merchandise Volume (GMV)? Researchers at ECDB are shedding some light on this, though a direct comparison is a bit tricky due to Back Market’s substantial U.S. presence, which Refurbed lacks. But before we dive into the specifics, let’s take a moment to explore the background of both companies.
French Back Market
Founded in 2014, Back Market is a French e-commerce platform that specializes in refurbished electronics. The company promotes sustainable consumption by offering high-quality, pre-owned devices at competitive prices. Back Market partners with certified refurbishers to ensure reliability and quality, making it a popular choice for environmentally conscious consumers.
Austrian Refurbed
Refurbed, established in 2017 in Austria, shares a similar focus on sustainability, offering a range of refurbished electronics, from smartphones and laptops to even e-bikes. All products are certified and thoroughly processed to ensure they meet high standards. Refurbed’s mission is to reduce e-waste while providing affordable, eco-friendly alternatives to brand-new devices.
Mode of Operation
Both Back Market and Refurbed operate as marketplaces, connecting consumers with certified refurbishers who handle product quality and repairs. Their business models rely on earning revenue through seller commissions and listing fees, with a focus on promoting sustainable consumption and reducing e-waste.
2022 Performance and Global Presence
Both platforms experienced strong growth in 2022. Back Market saw its GMV rise by 30.8%, reaching €1.69 billion, while Refurbed grew by an impressive 79.9%, with a GMV of €481.3 million. Back Market has a notable global presence, with 23.5% of its GMV coming from the U.S., while France remains its largest market, contributing 33.3%. Refurbed, on the other hand, has a stronger presence in Germany, Austria, and Italy.
2023 Comparison
In 2023, Back Market’s impressive growth continued, reaching a GMV of €1.95 billion, further solidifying its position as the dominant player in the refurbished electronics sector. Refurbed, meanwhile, achieved a GMV of €570 million, meaning Back Market’s lead has grown to €1.38 billion. However, Refurbed is clearly gaining some ground year after year, and its continued growth shows the increasing demand for refurbished electronics in Europe.
In conclusion, while Back Market leads by a significant margin in 2023, Refurbed’s impressive growth trajectory suggests that it is a serious competitor and is closing the gap with each passing year.
Via: Ecommercedb.com
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