In 2023, top furniture retailers should stay on top of these 4 trends that focus on improving the shopping experience and streamlining operations for their furniture business.
Top Furniture Industry Trends for Retailers in 2023
1. Embracing Higher Demand for Ecommerce Shopping
For as long as the retail industry has been around, brick-and-mortar stores have been the primary shopping channel for consumers. In 2020, when stores were temporarily closed during the pandemic, there was an accelerated shift to ecommerce. Ecommerce sales increased by 50% while total in-person shopping sharply declined. While customers have returned to shopping in stores, in 2023, an online presence and focus on ecommerce will continue to be a key component for continued growth as shoppers engage with brands both online and in store.
2. Providing Hybrid and Omnichannel Customer Journeys
Reaching new customers has never been easier. In fact, it’s estimated that the average person sees over 4,000 advertisements per day. If anything, shoppers are so used to ads that a pure outbound marketing strategy is no longer a viable option.
Instead, retailers can meet shoppers where and how they shop by improving the customer journey across all channels. An omnichannel experience means shoppers can interact using multiple touchpoints across channels during their shopping journey, always making progress, and never needing to start over. For example, a shopper can begin their purchase online and confirm their selection in person. Major retailers such as Walmart and Target have already adopted omnichannel solutions such as Buy Online, Pickup In Store (BOPIS) with unprecedented success. Expect this trend to continue as shoppers reevaluate the role of different channels.
3. Offering a Personalized Experience for Furniture Shoppers
Getting to know your shoppers allows you to create a positive shopping journey from start to finish. Personalization is a trend that’s here to stay because the average consumer appreciates purchase options tailored to their needs.
A personalized shopping experience can mean a variety of different touch points that help your shoppers when they need it. For example, curated content that matches your customers’ local stores, customized recommendations to help shoppers complete a room, or private coupons for specific target markets can convert customers and build brand loyalty.
4. Appealing to Millennials' Shopping Expectations
As the largest generation out there, millennials have a significant impact on the economy and have greatly influenced ecommerce furniture trends with the way they shop. What’s more, many millennials are at the home-purchasing age, are actively looking for home furnishings, and have grown up with ecommerce.
You can attract this generation by offering:
- An engaging and convenient experience both online and in-store.
- Multiple payment options.
- Expected item delivery dates.
- Communication options such as texting and emails.
Millennials shop both online and in-store; but according to a 2021 study by Tapjoy, millennials are “most likely to use their mobile phones to make purchases, so advertisers should aim to reach them where they spend their time.” Furniture retailers can provide a positive experience by using a mobile-friendly website to attract this tech-savvy group. However, you’ll need to showcase your items seamlessly both online and in-store to convert interested shoppers into happy purchasers.
Can Your Furniture Business Meet the Demands of 2023 and Beyond?
A successful furniture retailer meets the needs of their customers — no matter how they shop. With an omnichannel strategy, you can harness the power of technology to take your furniture business to the next level and exceed the demands of tomorrow.
If you’re ready to get ready for the future of the furniture industry, read our guide, “Develop Your Strategy for Today’s Omnichannel World” where we walk you through the steps of charting your own path forward.
