Popular Macclesfield based CD, DVD and console game recycling website, Music Magpie has recently announced that they enjoyed their busiest day ever in January this year as people got rid of any unwanted Christmas presents to earn some extra cash.
Music Magpie say that on one day in January they bought an amazing 602,417 unwanted CDs, DVDs and games off people in the UK. This amount was a huge six times more than their normal daily amount. The most common items that were sold on the day included Guns N Roses Greatest Hits, Lord of the Rings box sets and Nirvana Albums.
The company said that people wasted no time at Christmas selling their unwanted gifts as nearly a million items were traded in on Christmas Day and Boxing Day. Some of the most popular items that were sold for cash on these days included U2’s album and Dirty Dancing DVDs.
Any unwanted items that are sold to Music Magpie are cleaned and repackaged then sold through their That’s Entertainment brand which has 26 shops on high streets around the country and a successful website.
At a time when other entertainment companies including Game and HMV are struggling to compete with cheap online downloads, Music Magpie are thriving as people get rid of their old DVDs and CDs. The company has also thrived as people have looked to earn extra money by de-cluttering and selling unwanted goods in hard economic times.
In the year to May 31st last year their turnover almost tripled from the previous year to £31 million. Steve Oliver, the CEO of MusicMagpie who founded the company 5 years ago thinks that their turnover will triple again this year as the second hand entertainment market continues to expand. He also said “Consumers in the UK are currently watching what they spend as well as continually looking for ways to earn some extra money.”
Entertainment Magpie currently employ more than 900 people in the UK and have over 6 million customers. The company also recently announced that they are going to open a new warehouse in Stockport that is likely to create an additional 100 jobs.
Music Magpie have also recently announced that they now pay by M&S e-vouchers as well as cash so consumers can get their money faster. They have also launched a Facebook store so people can keep chatting on the social media site whilst earning extra money at the same time.
The company is backed by private equity firm, LDC and their chairman is former Royal Mail boss Allen Leighton.