musicMagpie (MMAG ), a UK-based online retailer specialising in refurbished electronics, announced its refubrished disc media would now be available to buy on Walmart's online marketplace, with other refurbished consumer tech products to follow in "early 2023".
The deal was struck between musicMagpie's US brand decluttr and Walmart to list the former's preowned CDs, DVDs, and video games on Walmart.com.
Steve Oliver, CEO and Co-Founder of musicMagpie, commented:
"We're thrilled to announce that we are teaming up with the biggest retailer in the world, which will allow us to offer our suite of refurbished and pre-owned products to its tens of millions of customers. Walmart's mission to provide high quality items at low prices aligns with our own, and the newly launched Walmart Restored programme mirrors our commitment to the circular economy and sustainability."
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Markets welcomed today's major milestone for musicMagpie and its US subsidiary decluttr, sending MMAG shares up 14% today in London. Walmart has one of the the largest and fastest growing ecommerce platforms in the US, giving the refurbished tech specialist a greatly expanded platform to reach customers in the US. Specifically, the additional sales channel will give decluttr access to Walmart's 120 million monthly online visitors and enable it to offer highly competitive prices.
Furthermore, Walmart recently announced the launch of Walmart Restored, a programme designed to help customers find refurbished electronics on Walmart.com. musicMagpie said decluttr's refurbished tech products e.g. phones, laptops, and game consoles, will be added to this programme in early 2023.
Today's deal adds to musicMagpie's agreement with ASDA last November that saw 300 phone recycling "SMARTDrop" kiosks rolled out in ASDA locations across the UK. musicMagpie first partnered with ASDA in September 2021, and since then over 25,000 phones have been traded in. The deal was part of a broader sustainability partnership between ASDA and musicMagpie. For ESG-minded investors interested in recycling and sustainability, musicMagpie is a company to .