While like most businesses, the furniture industry took a dip during the height of the pandemic but was among the first to rally back. Many factors contributed to that, but the two of them stood out.
One of the factors was, from a survey by The Loungewhen lockdowns were enforced, people resort to beautifying and improving their homes including replacing worn-out furniture or buying new ones.
Another reason for the upward trend of the furniture industry was the remote work effect. As many people start to work remotely – most of them for the first time – they realized they needed furniture that would enable them to work or add to their comfort in doing it.
Now that we can say the pandemic has subsided, we take a look at steps businesses in this industry can take to keep the momentum going.
- Online presence: According to report by statistica.com, about $4.28tr was generated in online revenue last year, this figure will rise to $26.7tr by 2022. The fast growth of online businesses and the convenience it affords means that every business that has not moved to the internet space yet, is losing out on many deals. Having your business online though means more than just having a website. I will not go technical here, but the site should load fast, scale well on all devices and be specific about what the business sells.
- An increasing number of single-person homes: More and more people now live without partners as found by the report of . This increases the number of furniture items and house décor materials to be purchased as each household requires these things.
- Multipurpose furniture: One of the trends that gained shape in 2020 and continue to grow is the demand for furniture that can serve different purposes. At some point during the pandemic when production was low, the prices of these items soared. With production back now, and their demand not abetting, any store that provides multipurpose pieces is counting on a sure deal.
- Timely delivery: Late delivery is the number one source of online shoppers’ frustrations. While certain factors such as strained supply-chains or third-party delivery factors made this problem hard to solve, there are surprisingly easy measures that can be taken to limit the effect the problem causes on customer relations.
The most important factor in reducing the level of complaints due to delayed delivery is a good line of communication. Buyers need to hear what was taking their order too long and what is the business doing about it. This shows that the business cares.
When done carefully, this can even turn into a marketing campaign. Take Industry West for example. By posting a message of apology to one of their customers on Facebook, they were able to reach several people (over 1000) most of whom expressed their understanding over such issues.
- Eco-friendliness: More and more people pay attention to how their furniture is produced and what impact that has on the environment. Furniture stores can use this opportunity by supplying items that do not cause much damage to the environment and meet the principles of people. Furniture that is produced from recycled materials and more sustainable woods such as bamboo belong to this category.
Thanks for reading, I hope you find something to use to take your business to another level.