Fewer takers in the market for used furniture and home appliances

The used furniture and home appliances market seems to have stagnated as many of these products are remaining unsold for long periods, it is learnt.

According to sources familiar with the used goods sector, the main reason for this phenomenon is that supply is far greater than demand.

A quick look at social networks and community websites shows that a large number of posts pertain to advertisements seeking buyers for different types of furniture and appliances. These are often put up by expatriates who are about to leave the country as well as representatives of people who have left in recent times, the sources point out.

It has been hard for many people to sell their used furniture over the past few months, queries in the market reveal.

"Though such goods are generally not in a bad condition, the truth is that many of them haven’t found any takers. This is because supply is very high and there’re plenty of options available for buyers. Many people are willing to dispose of their belongings at very low prices before moving out of the country and it's natural that buyers would look for the best deal," said a resident involved in the trade.

"Goods that used to be sold for a particular price are now available at much lower rates. Those who fail to realise this and continue to demand a relatively high price are unable to sell their products," he added.

An Indian expatriate said he put up an announcement on a social networking page for the sale of some furniture items more than three months ago. "However, nobody has contacted me yet," he rued.

Many others who put up notices at hypermarkets expressed similar views.

Abbas Hussain, who sells used items at Souq Haraj in Najma, said business had been "somewhat disappointing" this season and the market was oversupplied right now. A number of people who left the country in recent months were long-time residents and had several items to dispose of, he recalled, leading to a glut.

The misleading claims of some sellers have not helped matters, according to the sources.

An expatriate said he contacted a seller through a community portal a month ago for buying a sofa. However, when he reached the place he found that the item displayed on the website had nothing to do with the actual product. He said there were others who have had similar experiences.

Courtesy: gulf-times.com