Many people cringe at the thought of buying refurbished commodities, particularly electronics and electrical appliances. These suspicions are fueled by the misconceptions that refurbished goods are of substandard quality and will likely break down only a few days into using them.
Well, nothing can be further from the truth. Refurbished products are not as black as they’re painted.
On the contrary, refurbished items can turn out to be way more reliable and durable than brand-new ones. I’ve personally used a refurbished laptop for five years without it needing any major repairs.
It’s in light of the mystery surrounding refurbished commodities that three ambitious entrepreneurs teamed up in setting up an online marketplace dealing exclusively in refurbished items, called Back Market.
Back Market may not have entirely succeeded in changing the perceptions many people have on refurnished goods. But the company does a great job at offering premium-quality refurbished commodities at industry-competitive rates. Back Market is now one of Europe’s go-to websites for refurbished electronics and electrical appliances.
But as a skeptic of refurbished items, the one question that could be lingering on your mind is – is buying from Back Market a great investment? Read on as we dissect that question.
What Is Back Market?
Back Market is a French online marketplace that offers refurbished gear. The company was founded on August 12, 2014, by Thibaud Hug de Larauze, Quentin La Brouster, and Vianney Vaute. Its head office is located in Paris, France. However, it maintains additional offices in Bordeaux, France, Berlin, Germany, and New York City, United States.
Back Market deals mainly in electronics and electrical devices, including smartphones, laptops, and video game consoles. Not only does the company positions itself as the go-to online marketplace for refurbished goods. It also aims at changing the popularly-held misconceptions about refurbished items.
To make that happen, Back Market encourages its users to be part of their “Refurb Revolution.” Refurb Revolution is a movement on social networking platforms like Instagram, which attempts to shift perceptions about the quality and reliability of refurbished commodities.
- Name: Back Market
- Industry: E-Commerce
- Date Founded: August 12, 2014
- Founders: Thibaud Hug de Larauze, Quentin La Brouster, and Vianney Vaute
- Country of Origin: France
- Headquarters: Paris, France; Also has offices in Bordeaux in France, Berlin in Germany, and New York City in the United States
- Availability: At least 15 countries
- Current Status: Active
- Official Website Link: https://www.backmarket.com/
What Are Refurbished Goods?
The term “refurbished” is synonymous with substandard or even counterfeit products. But that’s not true. Refurbished goods simply refer to older commodities that have been reconditioned or revamped to look and function as good as new.
There are two major categories of refurbished commodities – Pre-owned and Old.
Pre-owned refurbished goods, as the name implies, are items that were previously owned before being traded back into the stores. These products are inherently secondhand, but professionally upgraded through recycling.
On the other hand, older refurbished commodities need not have been owned before. They simply refer to items that have stayed longer in the stores, during which they might have become dysfunctional or their technology may need upgrading.
Despite their classification, refurbished products share one thing in common – they must all be repaired or revamped to look and function as efficiently as their brand-new counterparts.
How Did the Back Market Story Begin?
Back Market was born of a noble idea by three French entrepreneurs – Thibaud Hug de Larauze, Vianney Vaute, and Quentin Le Brouster – to bust the misconceptions many people hold about refurbished commodities.
De Larauze, Vaute, and Brouster saw a gap in the market for refurbished commodities and decided to fill it. But unlike many overzealous entrepreneurs, these investors weren’t driven purely by the profit motive. Their primary mission was to cause a paradigm shift with regard to the perceptions on reconditioned goods.
To actualize their dream, the trio embarked on several mega funds drives. They began by raising 300,000 euros from private investors in 2015. Another round of fundraising conducted in 2017 realized 7 million euros. And in 2018, the three entrepreneurs raised a whopping 41 million from renowned investors, including Thierry Petit.
What Is Back Market’s Business Model?
Back Market is basically a marketplace that links customers of refurbished commodities with professional reconditioners and secondhand retailers.
The website features products from reputable brands as well as renowned recyclers.
Is Back Market Available In My Country?
Black Market mainly offers its services to European countries and the United States. As of the time of writing (April 2022), the online marketplace was available in over fifteen countries, including;
• The United Kingdom
• The United States
What Products Can I Transact On Back Market?
Back Market deals in a wide variety of refurbished goods. The most popular products on the website include Apple devices like iPhones, iPads, Apple watches, and MacBooks. However, you can also find refurbished goods by other popular electronic brands, including Google, Samsung, Motorola, Kyocera, and OnePlus.
Besides, these items aren’t limited to smartphones. They also include laptops, gaming consoles, cameras, televisions, and audio devices.
How Much Do Products Cost On Back Market?
Since all commodities on Back Market are refurbished, you can be sure their prices are reasonable.
The prices of older phone models generally range from $100 to $500. Laptops, tablets, and televisions can range from $200 to $700, depending on the brand and model.
There are also several items priced as low as $20 to $70.
How Do I Pay On Back Market?
Back Market supports payment via all major credit and debit cards, including Visa, MasterCard, and Discover.
There’s also the option of paying via digital wallets, such as PayPal and Affirm.
What’s Back Market’s Shipping and Return Policy Like?
Back Market offers free shipping depending on the purchase value and location. Shipping is free in most European countries and the United States.
Packages typically take 1 to 3 days to be delivered. However, some deliveries may take up to three weeks. Fortunately, you get a tracking number that you can use to keep tabs on your merchandise.
As for purchase returns, buyers have a one-month window during which they may return their items. You can make returns free of charge and are entitled to a full refund if Back Market accepts liability for product defects or incorrect orders. Otherwise, you’ll pay a return shipping fee which varies depending on location.
So, Is Back Market Legit?
Back Market is a legitimate company that not only offers reconditioned electronics but also endeavors to shift perspectives on refurbished commodities.
Buyers can sign up for a free account and access thousands of high-quality revamped electronics from reputable brands and recyclers. Items on the platform are sorted by brand, model, and price point, making it easy to hone in on a product. There’s also the option of searching for products by entering a keyword on the search function.
To uphold consumer confidence, Back Market maintains a team of experts who screen each product before accepting it for recycling. Most purchases come with a 1-year warranty that takes care of free repairs.
Unlike many e-commerce platforms, there aren’t many negative Back Market reviews yet. The company enjoys high approval ratings on reputable review websites, including 4.6/5 on TrustPilot and 4.2/5 on Site Jabber. Another fact that lends credibility to Back Market is that they’re a leading reconditioned electronic marketplace in the world. Plus, they work with major brands, none of which has raised alarms on the company’s legitimacy.
In conclusion, therefore, buying refurbished goods from Back Market is a worthy investment.