2021

2021 Trend Report

At Kaiyo, our mission is to make beautiful furniture accessible to everyone and better for the planet. We looked back at activity on kaiyo.com in 2021 alongside industry insights to better understand how the secondhand landscape market is evolving.

The Industry at Large

Furniture Demand Continues to Grow

The market for home furnishings grew from $372.83 billion in 2020 to $404.7 billion in 2021, according to the 2021 Global Furniture and Home Furnishings Stores report. Home furniture and furniture sales accounted for almost 12 percent of total retail e-commerce in the U.S. according to Statista which also found that furniture and appliances to be the category with the highest compound annual growth rate between 2018 and 2025, beating out fashion and electronics.

The Market for Home Furnishings

Graph

Secondhand Furniture is on the Rise

What’s driving the shift toward secondhand furniture?

Analysts believe the furniture resale industry could hit $16.6 billion in sales by 2025, up 70% from 2018. With more time spent at home due to COVID-19, customers are eager to freshen up their space, while staying friendly to their wallets and the planet.

People have been spending more time at home since the start of the pandemic.
Source: Greenprint

Supply chain issues are creating massive delays for those buying new.
Source: Bloomberg

“The popularity of apparel resale sites like ThreadUp and TheRealReal has made consumers more comfortable with shopping secondhand. Millennials in particular are more willing to shop for pre-loved items as they become increasingly eco-conscious and discerning with their dollars. They’re realizing they can get great designs at a fraction of the price all while feeling good about their purchase.

There is a natural parallel between clothing and furniture in that great design is timeless. People understand that it’s better to have something that’s made well and will stand the test of time versus something that’s easily discarded. Once they realize the benefits of buying secondhand — both for the planet and their wallets — they want that more and more in all of their purchasing decisions.”

Alpay Koralturk
CEO & Founder of Kaiyo

68% of Kaiyo sellers sold for the first time in 2021.

According to a recent study released by Zillow, more Americans are moving. Supply-chain issues have led to limited selection and massive delays for purchasers of new furniture, swaying those who had not previously considered buying or selling to try it.

Looking Back

Selling Furniture in 2021

The Best Brands to Sell

These trusted brands are in high-demand and retained the most value in 2021.

A Closer Look at CB2

CB2 retained more value than any other brand on Kaiyo in 2021 and these particular pieces proved to be the MVPs.

Gallery White Two Drawer Nightstand

+90%

Duomo Floor Lamp

Runway Desk

Atomic Lobster Floor Lamp

Tallulah Rattan Nightstand

+89%

+88%

+86%

Brands That Increased in Value in 2021 vs 2020

A resurgence in the popularity of traditional styles has helped brands like Drexel Heritage and Ethan Allen retain more value compared to last year, while iconic brands like Design Within Reach and Herman Miller prove that timeless design makes for a safe investment.