Steve Oliver's business has come a long way since it was started in his Stockport garage in 2007.
He is the co-founder and Group Chief Executive of AIM-listed musicMagpie (MMAG) and as the name indicates the business was primarily focused on the online exchange of music CD's.
Also known as Decluttr in the US, the business has developed along a rigorous strategy of the circular economy, and expanded into wearable tech, phones and tablets and has been an alternative source of income for the cash strapped and the hoarder.
Oliver talks about the £16 billion of idle tech in boxes and drawers, and how the company's smart kiosks at ASDA can make valuations in minutes, and instant payments to be spent in the supermarket if the consumer wishes.
musicMagpie is the world’s biggest seller in the history of Amazon and eBay which are the world’s two biggest e-commerce platforms, and the most recent tie-up with Back Market sees the company's 2000 plus inventory of games consoles, tablets and wearables now having a presence on a strictly vetted marketplace with a UK and US reach. Back Market, Oliver says has a "Very similar mind set and principles about the importance of sustainability to refurbished products and the good that is does for the environment."
Further inroads into the US market is a priority for the group and Oliver stresses: "Our US business has got great untapped potential for the future."
The UK firm also has an offering for the more ESG conscious corporate customer and its phone rental initiative underlines its affordability and inclusivity approach to the consumer.
As for the future, Oliver sees a universal need and scaling up for non-tech items to be refurbished and exchanged. He cites electrical equipment, musical instruments, babywear and predicts that retailers may "potentially offer a discount by buying back the old one."
Musicmagpie (MMAG)