Antiques/Collectibles and Used Furniture Markets 2018 Profiler Brought to you by Media Group Online, Inc. Treasures Are Difficult to Find © 2018 Media Group Online, Inc. All rights reserved.

Younger Generations Less Attracted to Antiques www.mediagrouponlineinc.com Younger Generations Less Attracted to Antiques Antique shops are a sub-category of used merchandise stores, which consisted of approximately 20,000 stores generating approximately $19 billion in 2017 sales. This is a 10.8% increase from 2016’s $17.2 billion, according to US Census Bureau data. The antique and collectible market, however, has been in continuing decline since at least 2012, due to demographic changes, such as downsizing Baby Boomers, deaths among the Silent Generation and a lack of interest among Gen Xers and Millennials. Paradoxically, Millennials tend to enjoy shopping for used items, such as clothing, surprised at what they find, their uniqueness and reuse possibilities. They are, however, very price conscious, which could be why they are not attracted to antiques.

Remaining Antique Shows for the Dedicated www.mediagrouponlineinc.com Remaining Antique Shows for the Dedicated US Antique Shows/Antique Intelligence is the world’s largest producer of indoor antique shows. It hosts eight shows annually, with a total of 400,000 square feet and which attract more than 3,000 dealers and more than 50,000 visitors. In addition, there are numerous antique shows in cities and towns across the country, often paired with art, crafts and vintage items, mostly outdoors. The biggest antique mall in the US is the Factory Antique Mall in Verona, Virginia at more than 130,000 square feet. Many malls work on a consignment basis, renting booths to individuals and receiving a percentage of sales.

Catering to the Upper Crust www.mediagrouponlineinc.com Catering to the Upper Crust There are 92 members in 13 states of the Antique Dealers’ Association of America, most of which are in New England. Antique dealers curate items for wealthy clients and frequently specialize in a period or type of antique/artwork. Christie’s and Sotheby’s are the two biggest auction houses. They sell items from estates as well as from ultra-wealthy individuals, the numbers of which are forecast to increase 43% during the next decade. Auction sales include fine art in addition to antiques. Christie’s sales increased 21% during 2017 to $6.6 billion, mostly from artwork including a da Vinci piece that sold for more than $450 million. Sotheby’s reported its sales were $4.7 billion for 2017, an increase of 13.1% over 2016.

Furniture Looking for a New Home www.mediagrouponlineinc.com Furniture Looking for a New Home The gently used furniture market includes stores, trade-in programs at established retailers, online marketplaces and refurbished/repurposed furniture. In the second-hand market, furniture is the 4th most-popular category after clothing, books and shoes. A 2016 survey by Apartment Therapy and Furniture Today found 57% of Americans prefer to buy vintage home furnishings; by generation, Millennials 63%, Gen Xers 52% and Baby Boomers 53%. Consumers buy used items to save money (24%), somewhat to save money (33%), to save resources (15%), somewhat to save resources (25%), or both (3%).

Advertising Strategies To attract younger buyers, emphasize the fun of antiquing with friends, finding bargains and discovering unique items that express one’s individual style. Repurpose less-valuable antiques that are not selling by collaborating with local artists. Showcase the items in your advertising to spark interest. For second-hand furniture stores, invite furniture refinishers to provide demonstrations on how to refinish wood furniture, reupholster, etc. to give pieces a new look. www.mediagrouponlineinc.com

www.mediagrouponlineinc.com New Media Strategies Organize antique walk events, similar to bar crawls, in areas with many antique stores, offer refreshments and sell tickets. Advertise your event on Facebook. Schedule a photo and/or video shoot of models wearing vintage fashion and using some of the items in your store (like a vanity, dining set, fine China, etc.) to show previous eras’ glamour. Post on your social media pages, including Instagram and Pinterest. Create charming vignettes in your store similar to those in magazines and post photos of them or video presentations by store associates on your Website and social media pages

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