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Home Products Resale Market Soars 17%

OfferUp’s latest research showed that half of U.S. consumers shopped resale for home goods during the pandemic. And their spending on home decor and furniture resale items rose 17 percent during the year. Authors of the OfferUp recommence report noted that these gains “are projected to continue to become a $23.6 billion market by 2025, making recommerce the fastest-growing channel for home-related items.” The report also revealed that about two-thirds of American homes “have home goods and furniture acquired through resale.” OfferUp, is a mobile marketplace with more than 56 million buyers and sellers using its app to buy and sell everything from apparel and jewelry to electronics and automobiles. This most recent report solely focused on furniture and home products, and was published in partnership with data analytics firm GlobalData. The company said resale marketplaces “were the fastest-growing retail channel for home products and have become go-to destinations for hard-to-find items like desks, exercise equipment and electronics.” The research found that 35 percent of consumers bought home products last year using resale apps, “saving $400 on average compared to traditional retail costs. OfferUp said home products were the fastest-growing category across resale in 2020. Nick Huzar, chief executive officer and cofounder of OfferUp,

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