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Elisabeth MENANT
Innovation Trends Manager
3 minutes

In London, in the district of Hammersmith, the shopping center Livat, which belongs to IKEA, hosts the Library Of Things, a rental library of equipments that are rarely used as hedge trimmers, carpet cleaners, drills, high pressure cleaners…

The fact

Born in 2014 from a collaboration between friends and neighbours, Library Of Things offers a neighborhood resident the opportunity to rent rather than buy a drill, an ice cream maker or a hedge trimmer. For this, he reserves the object on the internet and comes to withdraw his article in the locker installed in the municipal library for example. In the medium term, the company plans to develop hyperlocal communities to promote mutual aid and small helpings. Indeed here the project is to revitalize abandoned neighborhoods, to recreate the link. The idea appealed to IKEA, which has just set up the company in its London shopping center Livat, located in the Hammersmith district of London.


Rental is booming!

Last year, the Echangeur highlighted the “library” concept proposed by Decathlon with “We Play Circular”. The principle: all the items usually sold by the brand are available for rental at a cost of 5 euros/month to access the rental platform. The icing on the cake, the more the item is rented, the more it is amortized and the rental decreases. But it was also Monoprix with its “Je m’appelle Reviens” service. Within this space, you can borrow free of charge and for a maximum period of 48 hours a household appliance, a printer, an electric guitar, or a raclette machine, it’s up to you.

This year, Leroy Merlin is currently testing the rental of tool kits. Customizable, they allow the handyman to carry out his work in the best conditions, without breaking the bank or encumbering himself. A 100% digital journey since the reservation is made online and the delivery is made either at home or at a relay point.

Here, it is the LIVAT shopping center that decides to host Library of Things with these lockers which are obviously next to the store. Through partnerships with established brands like Bosch, Kärcher and STIHL, the ‘Library’ is able to offer brand new, high quality products built to last for a low price, most of them costing less than 10 £ per day for rent. And Londoners are delighted to no longer clutter their cellars! The service is therefore intended to be accessible to as many people as possible and the shopping center will benefit from a more than positive image! As for IKEA, it is the indirect way to help its consumer to do his work and to offer this service even indirectly, without taking the risk of launching a service that is not necessarily profitable in the long term.

Elisabeth MENANT
Innovation Trends Manager
To explore with you the transformation of retail with a double approach both editorial and business
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