Gen Zers who are furnishing their first apartment aren’t the only ones shopping for used furniture. In fact, a recent survey by re-commerce platform FloorFound found that 95% of wealthy consumers—those earning more than $175,000 a year—look for furniture at resale shops first.
In the more than 1,000 adult consumers surveyed in October, 89% of all respondents said they first looked at gently used or resale options, such as consigned, thrift, trade-in, refurbished, and returned items, before buying new furniture. When it comes to using this channel, however, wealthy consumers are in the lead.
5 Other Key Facts About High-income Consumers and the Resale Marketplace:
- One-half of wealthy consumers say they would purchase used goods if they were looking for unusual items that were hard to find elsewhere.
- Purchasing items used allows 42% of wealthy respondents to afford items they otherwise couldn’t.
- Value is mentioned by seven out of ten high-income consumers as a possible justification for purchasing through a recommerce option.
- More than one-third (36%) of customers use this channel to avoid waiting and shipping delays.
- Sustainability is cited as a reason for purchasing secondhand goods by more wealthy consumers (44%).
36% of respondents overall, according to the study, said they buy furniture from online retailers. Only Facebook Marketplace (48%) and thrift and vintage shops (57%) outperformed this channel. For furniture for living rooms, dining rooms, and homes offices, thrift and consignment stores were cited as the best options, while mattresses were best found on branded online marketplaces.
34% of respondents said they had purchased directly from a retailer, but 64% said they would do so if it meant supporting the sustainable furniture industry.
When asked when they would next purchase used furniture, 17% said within the next six months, and another 27% said within the next six to twelve months. Furniture for the living room (49%), bedroom (39%), dining room (37%), home office (37%), and mattresses (19%) were among the furniture items most frequently purchased through resale.
Source: Read It Here!
