The rapidly expanding Off-The-Shelf Second Hand Furniture Market unveils exciting opportunities for astute investors and industry leaders. This burgeoning market is driven by the increasing availability of diverse second-hand furniture across both online and offline channels, catering to customers' various style preferences and functional requirements. The trend is further fuelled by the appealingly lower prices of second-hand furniture, making these items an attractive option for budget-conscious consumers.
The growth trajectory of the Off-The-Shelf Second Hand Furniture Market is further propelled by a rising millennial demographic in regions such as India and China, favoring online purchases. Moreover, the market benefits from the cost-saving advantages and widespread global consumer interest in money-saving opportunities. Investing in our comprehensive market research report will provide you with invaluable insights that delve deeply into this promising sector, underpinned by meticulous data and thorough analysis. Access to an unrivaled depth of knowledge could be the key to unlocking your business's growth potential.
The COVID-19 crisis has altered how people shop by adapting to new technologies. Shopping for furniture is now a decision to buy virtually. On average, second-hand furniture is more than 50% cheaper, allowing consumers access to the products at comparatively less cost. Low cost being the primary factor, is estimated to expand the market.
The rising millennial population across the countries such as India and China has been paving the way for rising sales through online channels. This will positively impact the supply of second-hand furniture through online media. The market's growth is owing to the cost-saving benefits of second-hand furniture and the increasing desire of consumers to save money across the globe.
Off-The-Shelf Second Hand Furniture Market Trends
Offline Distribution Channel is Dominating the MarketThe Off-the-Shelf Second Hand Furniture Market is segmented into the distribution channel, which is further segmented into online and offline, out of which the offline segment, with a larger market share in 2021, is anticipated to have the largest share during the forecast period. However, with the rise of an increasing number of smartphone users and increasing penetration of internet users, the market share for the online segment is expected to grow at a higher rate over the forecast period.
Asia-Pacific is Expected to Witness the Highest GrowthThe Asia Pacific is expected to account for a larger share in terms of revenue during the forecast period. The increasing size of the online marketplace for second-hand goods is anticipated to drive the growth of the Asia Pacific regional market.
Additionally, ease of accessibility, availability of a large variant of products coupled with comparatively low cost of second-hand furniture is anticipated to drive the growth market in the region during the forecast period. Countries such as China, Japan, and India have the most prominent market in the region.
Off-The-Shelf Second Hand Furniture Market Competitor AnalysisThe report covers major international players operating in the Off-the-Shelf Second Hand Furniture Market. The Indian mattress market is domestically dominated by players such as IKEA, Beverly Hills Chairs, Steelcase, London Aerons, and others. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Technological Innovations in the Market
4.7 Impact of COVID-19 on the Market
5.1.1 Kitchen Furniture
5.1.2 Dining Furniture
5.1.3 Living Room Furniture
5.1.4 Bathroom Furniture
5.1.5 Indoor Furniture
5.1.6 Outdoor Furniture
5.2 By Application
5.3 By Distribution Channel
5.4.1 North America
5.4.4 South America
5.4.5 Middle East and Africa
6.1.2 Beveraly Hills Chairs
6.1.4 London Aerons
6.1.5 Rework Chicago
6.1.6 eBay Inc.
A selection of companies mentioned in this report includes:
- Beveraly Hills Chairs
- London Aerons
- Rework Chicago
- eBay Inc.