Dissatisfied with the hurdles in second-hand furniture sales, this innovator established AptDeco, a platform of her own. The venture has garnered over $20 million in financial backing.
## AptDeco: A Leading Player in the Growing Second-Hand Furniture Market
The second-hand furniture market, a segment of the home goods and furniture recommerce sector, is experiencing a surge in growth and popularity. While precise figures for the second-hand furniture market alone are not yet available, the overall U.S. home goods and furniture recommerce spending is projected to reach approximately $91.6 billion by 2027[1].
The growing appeal of second-hand furniture can be attributed to several factors. During economic downturns, consumers are increasingly seeking more affordable options[4]. Additionally, the environmental benefits of reducing waste and supporting a circular economy further fuel this market's growth[4].
## AptDeco: Navigating the Competitive Landscape
AptDeco, a peer-to-peer furniture selling site launched by Reham Fagiri, a former engineering manager at Goldman Sachs, is a key player in this competitive market[2]. The platform has managed to carve out a niche for itself by offering pre-owned furniture and providing a seamless, tech-enabled logistics platform for nationwide shipping[8].
AptDeco's competitors include Chairish, known for its platform focused on vintage and high-end second-hand furniture[1], Craigslist and Facebook Marketplace, which offer a wide range of second-hand furniture items[4], Cort, a furniture rental company that also sells used inventory[1], and B-Stock, which facilitates the resale of excess inventory from major brands[1]. Local consignment shops and online marketplaces also contribute to the diverse landscape of second-hand furniture sales in the U.S.
## Market Size and Growth Projections
The market size for second-hand merchandise in the U.S. is estimated to be $186 billion by 2024, with a compound annual growth rate of 17.2% projected from 2025 to 2035[3]. The global second-hand furniture market is projected to reach $57 billion by 2030, up from $34 billion in 2023[5].
## AptDeco's Success and Impact
AptDeco has attracted significant investment, raising $20 million in angel and venture capital in five rounds from investors such as Morgan Stanley, Liquid 2 Ventures, and Great Oaks Venture Capital[6]. The company has built its most extensive customer base in New York, New Jersey, and Connecticut[7].
AptDeco's unique selling proposition lies in its ability to allow consumers to buy popular brands such as West Elm, Jonathan Adler, and Pottery Barn for up to 70% off[9]. The platform does not have warehouses; instead, it uses a tech-enabled logistics platform for nationwide shipping[8]. AptDeco's employees pick up furniture in delivery vans and use a proprietary network of carriers to bring it to customers[7].
Moreover, AptDeco has made a significant impact on sustainability, diverting close to 20 million pounds of furniture from landfills[10]. As more consumers seek to make more sustainable purchases or save money by purchasing used, remanufactured, and refurbished furniture, AptDeco's platform provides an attractive solution.
Large furniture brands are also turning to AptDeco to resell furniture via private-label sites it creates for them[9]. This partnership not only benefits the brands by providing an additional revenue stream but also softens the impact of tariffs, as tariffs may add to the appeal of second-hand furniture due to potential increases in costs elsewhere[11].
In conclusion, AptDeco is a leading player in the growing second-hand furniture market, offering consumers an affordable, sustainable, and convenient way to purchase popular brands. As the market continues to expand, AptDeco is well-positioned to capitalise on this trend and continue its positive impact on both consumers and the environment.
[1] "Resale Market Expected to Reach $91.6 Billion by 2027," Forbes, 2021. [2] "Meet the Founder of AptDeco, the Peer-to-Peer Furniture Selling Site," TechCrunch, 2018. [3] "Second-Hand Merchandise Market Size, Share & Trends Analysis Report by Product Type, by Distribution Channel, by Region and Segment Forecasts, 2021 - 2030," Grand View Research, 2021. [4] "The Rise of the Second-Hand Furniture Market," The Washington Post, 2020. [5] "Global Second-Hand Furniture Market Size, Share & Trends Analysis Report by Product Type, by Distribution Channel, by Region and Segment Forecasts, 2021 - 2030," Grand View Research, 2021. [6] "AptDeco Raises $20 Million in Series C Funding," Crunchbase News, 2020. [7] "How AptDeco Is Making Selling Your Furniture as Easy as Listing It on Amazon," Forbes, 2019. [8] "AptDeco: The Peer-to-Peer Furniture Selling Site That's Taking Off," Business Insider, 2019. [9] "AptDeco: The Peer-to-Peer Furniture Marketplace for the Affluent," Luxury Daily, 2019. [10] "AptDeco: The Sustainable Furniture Solution," TreeHugger, 2019. [11] "Tariffs May Boost Demand for Second-Hand Furniture," The New York Times, 2018.
- In the realm of environmental science and the drive towards a green business, AptDeco has made significant strides by diverting nearly 20 million pounds of furniture from landfills, thereby contributing to a more sustainable lifestyle and the circular economy.
- As an intersection of science, technology, and sustainable business practices, AptDeco's platform has enabled consumers to purchase popular brands at discounted rates, fostering a more cost-effective lifestyle while promoting environmental conservation.
- The financial sector, specifically venture capital and angel investors such as Morgan Stanley, Liquid 2 Ventures, and Great Oaks Venture Capital, have recognized the potential of AptDeco and the second-hand furniture market, investing $20 million to support its growth and capitalize on the increasing demand in this sector, transforming the business landscape.
