The second-hand market in the United States continues to heat up! Furniture category becomes the next hot spot!

It is learned that according to research by FloorFound, amid the impact of inflation and economic uncertainty, American consumers' demand for second-hand and returned goods has exploded.

Research shows that with greater attention paid to price and the environment, American secondhand consumers are not only buying clothing, but also other categories such as furniture.

The survey found that 89% of Americans will look for second-hand alternatives (including consignment, thrift, trade-in, refurbished, open-box or returned items) on resale platforms before buying new furniture. Among them, sofas (39%), coffee tables (18%) and living room chairs (16%) are the second-hand furniture they most often look for.

The top reason most (73%) U.S. consumers buy used or resale furniture is to “save money,” with other important reasons being “finding unique items that are not commonly seen” (39%) and “supporting sustainability or reducing waste” (38%).

FloorFound's research also found that "low price" was most important to second-hand shoppers who were planning to buy a big-ticket item in the next six months, as their spending budgets were significantly reduced due to price increases.

FloorFound said that the second-hand market in the United States is currently growing twice as fast as the retail market, and it is expected that by 2027, the size of the second-hand market in the United States will reach US$289 billion.

High-income people are leading the growth of the second-hand market in the U.S. Among high-income people with an annual income of more than $175,000, 86% have purchased second-hand items, 14 percentage points higher than the average.

Like low-income and other groups, "low price" is also the main reason that motivates high-income people to buy second-hand products. However, the difference is that high-income people are more concerned about environmental issues, among which 44% buy second-hand products because they support sustainable development.

Editor ✎ Nicole/

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