7 in 10 Americans Are Turning to Resale As Inflation Shifts Their Shopping Habits

7 in 10 Americans Are Turning to Resale As Inflation Shifts Their Shopping Habits

FloorFound | 7 in 10 Americans Are Turning to Resale As Inflation Shifts Their Shopping Habits
A Powerful Opportunity to Make a Positive Impact
Shoppers are turning to resale as inflation shifts their shopping preferences and behaviors, according to FloorFound's recent sustainability survey. 600 people were surveyed about their thoughts on recommerce, and the top two reasons why shoppers embrace this trend is because of its value or sustainability.

Here are some other highlights revealed in the survey:
1. The modern consumer is embracing resale as a cost-effective and eco-friendly way to buy goods. 76% of shoppers plan on buying used products within the next twelve months, with those under 30 especially enthusiastic: 84% have bought something secondhand in recent times while 87%.
2. The resale market for appliances and exercise equipment is on the rise, with one- fifth (19%) of shoppers planning to buy used or secondhand items within a year.
3. While Facebook Marketplace may be the go-to destination for consumers, skepticism is high, with only 27% rating descriptions as trustworthy.
4. The idea of resale is not new to many people. The majority of respondents (54%) under 30 are familiar with these models. This means there might be an opportunity for brands who offer them and reward their customers by doing so.
With 69% of Americans reporting a change in what they buy because prices have risen, it’s time for businesses across all industries - not just clothing retailers-to start thinking about how you can adapt your business model.

Download the full report to learn how your brand can capitalize on these trends.
Positioning for success in a fast-growing market

Many brands are already engaged in recommerce, and many more are making plans to jump into this fast-growing market soon. In fact, research from the “FloorFound Consumer Survey 2021” suggests that 50% of what brands sell in the next five years will be resale items. Our survey also found that 92% of consumers have purchased a resale item in the past, including oversized items like furniture.

Given these findings and other realities — such as the broken state of the global supply chain and consumers’ heightened expectations about responsible business practices — it’s risky for brands not to develop a formal recommerce strategy. But how and where do you start?

This guide outlines five key steps that can help you create a successful recommerce strategy for your brand. These steps are informed by FloorFound’s direct experience working with leading brands, like online furniture retailer Joybird, to develop a winning strategy for recommerce.

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