Due to the upheaval of the pandemic, clients cannot help but gravitate towards e-commerce. Physical stores, at just the right commercial location, are not that critical for a furniture business to succeed anymore, as evidenced by Furniture in Fashion and Made.com. The transition towards an online platform exponentially increases the exposure of a brand and potential client pool. This shift has opened a whole new world of marvellous designs, boundless reach, innovative ideas and thankful clients at Furniture in Fashion.
Amazing facts of the e-commerce furniture industry
- 8 out of every 10 consumers bought furniture online, at least once
- The furniture e-commerce industry exceeds $200B in worldwide valuation
- Over 90% of the growth in the furniture industry is credited to online sales alone
- Every 1 in 3 customers prefers purchasing furniture online
- Over 30% of furniture sales are credited to B2B service in the e-commerce industry
- Almost 16% of all furniture and home goods sales are done online
Trends in the e-commerce furniture industry
- Focus on home furnishings. At the beginning of 2020, there was a sudden decline in the furniture industry because of all the uncertainty in the atmosphere. People were not purchasing goods other than the essentials. But the shoppers and retailers eventually got used to it and shifted their priorities. In 2021, a home has become a place where people sleep, work, entertain, educate, live, unwind and more. As a result, more and more people are gravitating towards the idea of work from home. Additionally, families are also keen on creating opportunities for kids to entertain themselves at home since they cannot go out to the parks. These factors have severely increased the scope of the e-commerce furniture industry in 2021.
- Rising interest in e-commerce. Brick and mortar shops lost much of their appeal in the pandemic. People can barely afford to get out of their homes, let alone go furniture shopping. That’s why B2B and B2C have become so vital in the e-commerce industry. Demographics show that our reliance on e-commerce has transitioned almost a decade ahead of schedule. Even earlier generations that disdained tech have learned to embrace it as a means of shopping. Online shopping is no longer an option; it is a necessity. E-commerce websites, social media platforms, video advertisements; all have become something normal for shoppers.
- Demand for personalised customer experience. The consumers’ attitude towards retail websites has shifted since the pandemic started. Now, consumers look for a specialised experience to engage in chat and other advanced functions to know more about their products of interest before purchasing them. Online shopping does not have an off-time. Chatbots, intelligent tools, AI and simulations allow clients to better understand their own needs and how their chosen products might look. Customers are sensitive to the influence of the growing personalised shift of every online industry, including furniture.
- Improving online product presentation. Online shoppers quickly realise that they do not always get what they thought they were purchasing. Sometimes, the products or services do not match their online descriptions or client expectations. As a result, various industries are trying to replace that feeling a shopper gets in a physical store when touching, seeing or testing a product first-hand before making a purchase. Retailers are investing more in detailed photography, videos and simulations to give the clients a better idea about the product. They are creating detailed digital catalogues and realistic presentations, giving customers ample opportunity to analyse the product before purchasing. This drive is especially visible in the furniture industry. Furniture in Fashion presents its products and designs in different simulated settings to give the client a better idea.