SAN FRANCISCO, Sept. 22, 2021 /PRNewswire-PRWeb/ -- Chairish, the beloved online destination for chic and unique home furnishings, today released the Chairish 2021 Home Furnishings Resale Report, its first-ever study on the state of recommerce in the home furnishings industry. The report reveals the supercharged growth of e-commerce and recommerce during the COVID-19 pandemic and beyond, the environmental benefits of resale and the buyer habits that are propelling the pre-owned movement forward.
Sixty-six percent of U.S. homes now have resale home goods and furniture, according to the report. More than 550,133 vintage, antique, and pre-owned items have been "re-homed" by Chairish since the company's founding in 2013. As the leading online destination for the high-end home with over 85% pre-owned inventory, Chairish also saw a 60% increase in sales last year.
This growth reflects the accelerating popularity of resale home furnishings, due to factors including:
-Increased awareness of the environmental benefits of buying pre-owned items for the home
-A renewed interest in home decor and improvements that resulted in spending more time at home
-Supply chain issues in the broader home segment, which slowed the manufacturing and delivery of new goods
The resale home furnishings category is projected to grow by 54% over the next 5 years — 3.5 times faster than traditional retail — with $16.6B of secondhand furniture expected to be sold by 2025, a 70% increase from 2018.
With 12 million tons of home furnishings thrown out each year in the U.S., the environment has become a growing priority for consumers as many have realized the benefits of resale. In fact, 71% of US buyers of pre-owned furnishings believe their purchase is better for the planet and ⅔ think resale will play a significant role in the future of sustainability.
Chairish is proud to announce that it offsets 100% of estimated carbon emissions from US shipping. The company expects to offset 588 metric tons of carbon emissions over the next year, the equivalent of recycling over 25,000 bags of waste or planting 9,700 trees.
Resale is becoming increasingly popular for aesthetic reasons, too: 76% of shoppers say they like pre-owned home decor because of the individuality and uniqueness of the pieces. The trend shows no signs of slowing, with 44% of Gen Z anticipating that they will resell their home furnishings in the future, especially as they prepare for home ownership and furnishing their own spaces.
"When we started Chairish eight years ago, our focus on vintage and antique furnishings was motivated by our own personal passion for great, one-of-a-kind style," said Gregg Brockway, Co-Founder and CEO of Chairish. "Over time we—along with millions of other design lovers—have come to appreciate the practical and environmental benefits of recommerce. Chairish is committed to a more sustainable home furnishings industry and we feel it is important to share the significant findings of our research that impact the home furnishings industry."
Other key takeaways from the report include:
-Online furniture and houseware sales reached $36.1B in 2020, an increase of 41% from 2019.
-70% of shoppers plan to continue purchasing pre-owned products online after COVID-19.
-86% of shoppers say they love to hunt for pre-owned, vintage, and antique home furnishings.
-80% of shoppers say quality is important when choosing pre-owned furniture and home decor, as higher-quality goods stay in the circular economy longer.
-44% of Millennials have resold pieces of furniture.
-31% of Millennial and Gen Z consumers said the pandemic increased their interest in buying used, vintage, or antique furniture online.
-A majority of respondents from every generation expect retailers and brands to become more sustainable in the future.
The survey used to collect the report data was conducted in partnership with Statista, which uses consumer surveys, official data, data sharing and secondary sources to analyze, model and forecast metrics including market share and size. Statista conducted a survey of 3,485 Americans on recommerce and the furniture and home goods retail market. Additional sources for the survey included internal Chairish community data and independent secondary research.
Founded in 2013, Chairish is the leading emporium where designers and tastemakers shop for exceptional home furnishings and art. Named the #1 "can't live without decorating app" that "will change the way you shop for furniture online" by Architectural Digest, Chairish delights millions of shoppers with its expert curation of exclusive and diverse inventory, refreshing shopping experience and award-winning customer care. As a marketplace, Chairish is committed to building a more sustainable home industry that's kinder to the planet and supports the circular economy through the buying and reselling of vintage and antique pieces. Entrepreneur lists Chairish as one of the "best entrepreneurial companies in America'' and USA Today readers named Chairish the "best place to shop online for furniture and home decor." Chairish has raised funding from investors such as Tritium Partners, Altos Ventures Ltd, Azure Capital and O'Reilly AlphaTech Ventures. Chairish Inc. is the San Francisco-based parent company of Chairish.com and Pamono.com.
Darren Gold, The Rose Group, +1 (323) 200-4345, [email protected]