In 2023 stay up-to-date with competitive methods for furniture ecommerce

According to Statista, the furniture market generated revenue of $696.80 billion USD in 2022 and is expected to grow annually by 6.33% (CAGR 2022-2027). Over the last decade, the furniture retail sector has undergone massive changes, with a significant shift in consumer behavior and a surge in online sales. Industry experts are confident that e-commerce will maintain its relevance even after the current economic challenges.

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However, CSIL predicts a slight decline in global furniture consumption in real terms in 2023, with growth expected to resume in 2024. Retail across all channels is feeling the impact of reduced consumer spending and hesitancy to make purchases. Furniture, often a significant investment, poses additional challenges for online shoppers.

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While some businesses are pausing investments, others are seizing the opportunity to drive sales by refining processes, utilizing e-commerce tools, and meeting evolving consumer expectations.

Product configurators, Augmented Reality, and credible payment methods to reduce customer hesitation

Building customer confidence and delivering a great shopping experience is crucial, especially for younger consumers who increasingly demand these features. Here are some strategies that can be effective for furniture e-commerce:

Use high-quality content:

‍Furniture is highly visual, so it's essential to showcase it from multiple angles.

1. Solution 1: Leverage your 3D assets to create product visualizations, such as high-quality renders in diverse room scenes, animations, or 360-degree product views. This enhances the customer experience with unique online product presentations.
2. Solution 2: Offer a web-based Augmented Reality tool that allows customers to see how the furniture will look in their own space. This can boost their confidence in making a purchase.

Implement a product configurator for customization:

‍The more customization options you offer, the more likely customers are to find something that fits their specific needs and preferences.

1. Solution: Use a product configurator to let customers see their customized furniture in real-time as they design it. This interactive experience helps them visualize their creation and makes the process more engaging. Emphasize in your marketing that customers can create truly one-of-a-kind furniture that meets their specific needs and preferences

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Offer credible and flexible payment methods:

‍Providing payment options that customers trust is critical for reducing hesitation and ensuring secure transactions.

• Solution: According to The European Ecommerce Report, 87% of consumers say it’s essential that retailers offer the payment methods they prefer to use when shopping online. To meet this demand, offer popular payment methods, such as Visa and MasterCard debit cards, bank transfers, gift cards, pass-through wallets like Apple Pay and Google Pay, buy now, pay later options like Klarna, and electronic wallets like PayPal.

Provide fast and reliable shipping

‍Concerns about delivery speed and reliability are common barriers to online shopping.

• Solution: Consider offering multiple shipping options—such as standard, expedited, and same-day delivery—to give customers the flexibility to choose the option that best suits their needs.

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