| Pub. Date | : Dec' 2023 |
|---|---|
| Product Name | : The IUP Journal of Case Folio |
| Product Type | : Article |
| Product Code | : IJCF011223 |
| Author Name | : Syeda Maseeha Qumer |
| Availability | : YES |
| Subject/Domain | : Management |
| Download Format | : PDF Format |
| No. of Pages | : 21 |
The case discusses Paris-based Back Market's efforts to tackle the global e-waste crisis by offering a sustainable alternative to new tech, through the creation of an online marketplace specializing in selling professionally refurbished electronic and household appliances. However, the company has been facing some challenges in its fight against e-waste, including expanding to new markets, sustaining growth, broadening the scope of refurbishment from mostly smartphones and tablets to other segments such as gaming consoles and smart home products, and encouraging tech companies to reconsider how they designed and built their devices. The biggest challenge for the company will, however, lie in building consumer trust in refurbished tech and influencing consumer behavior in order to make refurbished their first choice for electronic purchases. With e-waste being such a critical issue for the planet as well as human life, what can the three cofounders of Back Market-Thibaud Hug de Larauze (CEO), Vianney Vaute (CCO), and Quentin Le Brouster (CTO)-do to ensure that its commitment and efforts go far enough to drive change on the ground? What more can Back Market do to capitalize on its commitment and encourage more consumers to use its refurbished products?
In March 2022, Back Market, one of the most valuable French startups and a leading renewed electronics online marketplace, was ranked #1 in business magazine Fast Company's prestigious annual list of the World's Most Innovative Companies for 2022 in the Consumer Electronics category and #18 on the overall list of top 50 most innovative companies of 2022. With more than 6 million customers worldwide as of 2022, Back Market catalyzed a fundamental shift in consumer behavior and how people consumed technology as it continued to raise the demand for refurbished electronics by delivering an experience superior to buying new.