- A recent study reveals the Australian preloved economy is booming
- Mrs Secondhand is one business thriving on this trend as it expands in Melbourne
- The pandemic and sustainability priorities are the main drivers
Mrs Secondhand, a furniture retailer and dealer, has acquired an industrial unit in Melbourne as the second-hand economy booms.
The site will help alleviate demand pressure on the expanding business by providing additional storage and distribution space.
Ervin Niyaz from Fitzroys is responsible for negotiating the off-market sale of the vacant 196 sqm warehouse unit for $520,000.
The attraction of preloved pieces appears to be on the rise in all retail areas.
“Second-hand items can present unique character and quality, and satisfy nostalgia.
Ervin Niyaz, Fitzroys Agency Associate
“Buyers are becoming more discerning when it comes to sustainability, and shopping for second-hand goods and items are seen as an immediate way to reduce an individual’s environmental footprint.”
Mrs Secondhand’s success coincides with a nationwide trend. 42% of Australians say they are more likely to sell items through the second-hand economy now than before Covid according to Gumtree’s Second-Hand Economy Report last year.
“The most popular items for Aussies to sell in 2020 include home décor and furniture. These were also the items that sold the quickest and helped Aussies make the most money.”
Mark Kehoe, Managing Director Gumtree Australia
Mr Niyaz agrees that the pandemic was a kickstart to the second-hand trend.
“There has naturally been a greater focus on people’s homes over the past 12 months. With more flexible working arrangements becoming normalised, people will continue to explore enhancements to their home and workspace environment,” he said.
“Financial impacts of COVID have also shifted attention towards the second-hand economy, with some looking to make money from selling excess items around the home, and others looking for more cost-effective ways to acquire them.”
Ervin Niyaz, Fitzroys Agency Associate
Mr Niyaz explained that owning rather than renting the location made better financial sense for Mrs Secondhand with historic-low interest rates and the business’ strong financial position.
Mrs Secondhand started buying and selling second-hand furniture in 2000. The company operates online and globally via Gumtree and Facebook, as well as locally out of its warehouse shop.
The newly acquired 1970’s built property will be Mrs Secondhand’s first expansion.
The average Australian household could be sitting on a hidden $5,800 in their homes in the form of preloved items according to Gumtree’s study.
It seems the preloved economy has a promising future as it thrives on newfound popularity.
