According to Statista revenue in the furniture market amounts to 696.80 billion USD in 2022. The market is expected to grow annually by 6.33% (CAGR 2022-2027). During the last decade, the furniture retailing sector has experienced a massive change in consumer behavior, with an unprecedented increase in online sales. All trend and industry watchers are convinced that e-commerce will retain its relevance even after the crisis.
However, according to CSIL, world furniture consumption will decrease slightly in real terms in 2023, but growth should resume in 2024. It is not a secret that retail in all its channels is affected by consumers’ reduced purchasing behavior and hesitation to make purchases. On top of that furniture can be a significant investment, so some clients see many obstacles in shopping online in this category.
So, while some businesses are stopping all investments, others are ready to drive sales by refining processes and utilizing ecommerce tools and meeting consumer expectations.
Product configurators, augmented reality and credible paying methods to reduce customer hesitation.
It's important to give customers confidence in their purchases and a great shopping experience (especially young consumers that are more eager for it).
Here are a few strategies that can be effective for furniture e-commerce:
1. Use high-quality content: Furniture is a highly visual product, so it's important to showcase it from multiple angles.
Solution 1: use your 3d assets to create your product visualization like high-quality renders with diverse room scenes, animations, or 360 product views, you can see some samples here and below:
High-quality product content will enhance the customer with a unique online product experience.
Solution 2: Consider showing clients furniture in their homes, using a simple web Augmented Reality tool. This can help them better understand the products and make it easier for them to visualize how the furniture will look in their own space. This can help them feel more confident in their purchases.
2. Use a product configurator to showcase customization options The more customization options you offer, the more likely customers are to find something that fits their specific needs and preferences. Many retailers offer a customization option but do not use the full potential of giving customers the ability to truly personalize their furniture.
Solution: Use product configurators to allow customers to see what their customized furniture will look like in real-time as they design their bespoke product. This can be a helpful way for customers to visualize what they're creating and can make the process of creating personalized furniture more interactive and engaging. Personalized shopping and product experiences help to increase revenue even if consumer spending changes, as they gain extra value. Depending on what kind of furniture you sell, for instance, living room, bedroom, bathroom, kitchen & dining, office or garden supply you can create: a 3d, 2d or modular configurator. Remember to emphasize in marketing communication that customers can create furniture that is truly one-of-a-kind and that fits their specific needs and preferences.
3. Offer credible and flexible paying methods that your clients like to pay with low fraud risk. 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.
Solution: propose the world’s most popular way to pay for diverse generation groups
Visa and MasterCard debit cards
Vouchers and gift cards
Pass-through wallets like Apple Pay and Google Pay
Buy now, pay later like Klarna
Electronic wallets (e-wallets) like PayPal
4. Offer fast and reliable shipping. Common barriers in online shopping are concerns about the reliability or speed of delivery. Customers want to receive their orders as quickly as possible, so it's important to offer fast and reliable shipping options.
Solution: if possible consider offering multiple shipping options, such as standard, expedited, and same-day delivery, to give customers the flexibility to choose the option that best meets their needs.
Drive new sales with 3D & AR visualisation for the web
with Augmented Reality widget on your website!