AUSTIN, Texas – New research from resale e-commerce startup FloorFound reveals that more than 90% of Americans have purchased a resale item online and 77% of respondents planned to purchase returned or slightly-used furniture in the next year or two.
When they do, 89% of consumers expect the shopping experience, delivery, and customer support to be on a par with new furniture purchases.
The survey of 400 U.S. consumers shows that the majority of shoppers, 92%, have purchased a resale item online in the past year and 95% of consumers would purchase resale items from brands at a discount.
“If you are an e-commerce brand not in the resale business, you are missing a big opportunity to meet a new generation of consumers where they are in terms of a desire to support sustainably-minded brands while at the same time finding great deals on items that can ship immediately,” said Chris Richter, CEO of FloorFound.
“Diving into recommerce requires a whole new infrastructure including localized reversed logistics, processing and inspection capabilities, merchandising and pricing intelligence and a new marketing plan that compliments your core business,” he added.
FloorFound is currently working with furniture brands including Joybird, Floyd Home, Burrow and Inside Weather.
Other key findings from the survey include:
- 81% of respondents said sustainable practices are important or very important for furniture brands, while just 5% said sustainability in general was not an important factor.
- The majority of consumers, 84%, said sustainability was important or very important for the furniture delivery experience, including eco-friendly packaging and transportation.
- 75% of respondents said they are willing to keep furniture items they plan to return until a new buyer can be found.
- And, 88% said they would be willing to try a furniture “trade-in” program, which would allow them to return used merchandise in exchange for credit toward new purchases.
As consumers continue to embrace the second-hand market based on sustainability, value, and prompt delivery, FloorFound projects that 50% of what brands sell in the next five years will be resale items.
To better meet changing consumer expectations while remaining competitive and profitable, Richter said that furniture brands will need to cultivate a pipeline of returned or lightly-used inventory to sell to consumers who are looking to support a circular cycle of products not going into the landfill.