While many consumers appreciate the cost savings offered by shopping for refurbished electronics, it can be hard to know where to start and time consuming to comb through thousands of listings to find the right device. Back Market offers customers a like-new buying experience with a buy-box display, guaranteed quality, and reliable return and warranty policies. The company utilizes proprietary algorithms and machine learning to constantly improve both buyer and seller experience.

After compiling five years of historical data from more than 800 merchants and about 2,000,000 paying consumers, Back Market implemented robust machine learning techniques to help refurbishers foresee future demand, allowing them to purchase the right amount of stock for specific devices at the right prices. This provides sellers with more security as they do business, and having a reliable supply gives consumers the impression of stability and reliability that improves the image of the refurbished category as a whole.

Back Market has made great strides in quality through the development of their “buybox” method, which is enabled by a proprietary algorithm. Instead of displaying their entire catalog, like a traditional marketplace, we only display the single best product at any one time for a specific product model (SKU), taking into account not only price, but also the historical performance of every refurbisher (including customer service responsiveness, fail rates, etc.) among 14 other variables, creating a like-new buying experience.

This data-centric view is coupled with a very human approach to customer service, a rarity in this type of market. Back Market’s goal to make the refurbished buying experience as seamless, transparent, and risk-free as possible for consumers. This means providing a 30-day return policy, offering a 1-year warranty, and beyond that, educating customers – around 57% of whom are first-time refurbished buyers – on buying refurbished.