Walmart is expanding its refurbished goods initiative with Restored Premium, which will focus on a like-new range of refurbished goods including housewares.
Products offered under the Restored Premium program are like new, showing no signs of cosmetic damage, he noted, and they come covered by a one-year warranty and 30-day or more free returns pledge. Where they are part of the deal, batteries will be at 90% of capacity or more of the new equivalent. The products offered are refurbished by the original manufacturer or a manufacturer-authorized third party.
Mosser emphasized that the products in Restored Premium not only provide a lower-cost alternative to similar new products but they are environmentally responsible. The longer products remain in use, the more sustainable they are. So, they fit in with the environmental sensibilities of many Walmart customers and are consistent with the company’s efforts to enable a more circular economy in collaboration with customers, suppliers and sellers.
Walmart developed the Restored Premium program to provide its marketplace sellers new opportunities, Mosser maintained, both to broaden their overall assortments and bring top-quality refurbished items to their own customers. By working with suppliers of Restored Premium products, Walmart marketplace sellers can build their business by providing refurbished items that meet customers’ expectations and, as they win trust, expand the assortment or repurposed products they carry.
As summer proceeds, consumers are looking for more ways to save, Mosser pointed out, whether for back-to-school shopping or as they move to enhance backyard grilling experiences. Restored Premium gives them options they can use to address their needs and priorities, he suggested.
