musicMagpie has launched a "ground-breaking" sustainability partnership with Asda which aims to prevent thousands of tonnes of consumer technology and media products ending up as waste.
The Stockport-headquartered listed company, which specialises in refurbished consumer technology, said the deal will create a "circular ecosystem" and will involve the roll-out of musicMagpie's innovative SMARTDrop kiosks across Asda stores.
It will also see the launch of an affiliate agreement which will give Asda customers the chance to buy and sell pre-owned consumer technology and media items with musicMagpie through the supermarket's website and mobile app.
The partnership will also include continuation of musicMagpie's pre-existing relationship with Asda which involves musicMagpie's pre-owned DVDs and CDs have been available to buy in stores since August 2020.
musicMagpie's SMARTDrop kiosks will be rolled out to nearly 300 Asda stores in 2022, following a "highly successful" trial involving 15 kiosks across the Asda estate since November 2020.
The kiosks allow a customer to bring in their old phone, receive a valuation and get paid instantly with money transferred directly to the customer's bank or PayPal account.
So far, approximately 3,000 smartphones have been traded in through musicMagpie's kiosks, paying out over £800,000 instantly to customers.
Steve Oliver, chief executive and co-founder of musicMagpie, said: "We are thrilled that a business of Asda's prestige and national reach has recognised the value of musicMagpie's unique circular economy model, and is now prepared to scale up our partnership so decisively and quickly.
"Our research shows that the average UK household has 11 items of unused consumer technology lying around, totalling an astonishing £16.5bn. Both the SMARTDrop kiosks and the new affiliate agreement will allow Asda customers to free up cash and declutter their homes.
"The extension of our partnership with Asda will help us to achieve our clear strategic goal of 'buy more, sell more, rent more' by making it even easier for consumers to sell to musicMagpie and make a decision that is both smart for them and smart for the planet."
Matt Harrison, senior director of partnerships at Asda, added: "Our exclusive partnership with musicMagpie has been developed with the long-term view in mind and it is fantastic to see this vision achieved through a wider roll out in Asda stores.
"From the start, the team at musicMagpie have shared our philosophy of testing and learning through trials in our stores, with the ability to quickly understand what works and scale.
"The launch of 295 SMARTDrop kiosks and an affiliate site where customers can buy and sell technology via Asda.com will prevent e-waste going to landfill, as well as save shoppers time and money.
"As we continue to deliver on our partnership strategy and develop our partner 'ecosystem', we hope to create more opportunities to offer customers access to the products and services they want in more convenient locations."
