Expanding Recommerce Marketplace Presence
- MusicMagpie secures contract with Back Market
- Products to feature on Back Market UK by end of this month, US in mid-May 2022
- Includes mobile phones, games consoles, tablets, and MacBooks
- Additional sales channel for MusicMagpie products
- Back Market has six million customers across 16 countries
- MusicMagpie and Back Market to tackle e-waste issue
MusicMagpie has secured a contract to sell refurbished consumer electronic products on Back Market, an online marketplace dedicated to refurbished devices. The partnership will see MusicMagpie’s products available on the UK and US marketplaces by the end of this month and mid-May 2022 respectively. In addition to mobile phones, the agreement includes games consoles, tablets, wearables, and MacBooks. This collaboration adds an additional sales channel for MusicMagpie’s products alongside its own websites and Amazon and eBay. Back Market has six million customers across 16 countries and aggregates approved sellers without purchasing or holding stock. MusicMagpie operates a screening process for sellers and refurbishes devices at its logistics hub, while Back Market does not hold stock or carry out the refurbishment process itself. CEO Steve Oliver expressed excitement about the partnership, stating that it will help MusicMagpie’s products reach a wider audience and give Back Market users more choice. Thibaud Hug de Larauze, co-founder and CEO of Back Market, said the partnership represents an opportunity to expand the refurbished tech market and tackle the global e-waste crisis.
Factuality Level: 10
Factuality Justification: The article provides accurate information about MusicMagpie’s partnership with Back Market, their product offerings, and the benefits of refurbished devices for consumers and the environment.
Noise Level: 3
Noise Justification: The article provides relevant information about MusicMagpie’s partnership with Back Market and their shared mission to promote refurbished devices and reduce e-waste. It also includes quotes from the CEOs of both companies. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: Back Market, MusicMagpie, Amazon, eBay
Financial Rating Justification: The article discusses a partnership between MusicMagpie and Back Market, which will impact the sales of consumer electronic products on these platforms. It also mentions the companies’ efforts to tackle the growing problem of e-waste, indicating a potential financial impact on the refurbished devices market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
www.retailsector.co.uk