Furniture retailers face a critical problem:
Retailers’ share of the home furnishings market is declining
From 2009 to 2016 consumer spending on furniture and home furnishings rose 35%, from $144.6b to $195.9b. But contrast furniture and home furnishings’ stores share of those sales has declined, from nearly 59% in 2009 to 56.4% in 2016.
Retail sales in these stores only grew 30% in the six-intervening years.
The rise in ecommerce and other retailers selling furniture and home furnishings have taken traditional retailers’ share of the furniture and home furnishings market.
Furniture retailers’ most pressing problem: How to avoid being “Amazoned” or “Wayfaired”
The way for furniture retailers to avoid being “Amazoned” or “Wayfaired” is to leverage their assets, which is their physical store. They need to use their first line of defense – their up close and personal relationships with customers – to their maximum advantage.
Amazon and Wayfair are formidable competitors, but furniture retailers have a secret weapon – Their personal touch.
This 90+ page report in easy to read and use presentation format is a research-based look at furniture retail today and how retailers are fighting back against the online/ecommerce onslaught.
It reports the results of an online survey with n=369 furniture retailers and marketers about their business, views of the competition, advertising, marketing and digital strategies and how they are prospering in the new experience economy.
Following each major finding in the survey, this report also provides analysis to help retailers make the research findings actionable.
This survey was conducted by Unity Marketing in association with Furniture World magazine, which reports current news, information, trends, and analysis for furniture retailers and furniture manufacturers.
This report is for all companies that make FURNITURE their business!
Out of the n=369 companies included in this survey, nearly half (47%) are furniture retailers. The other marketers surveyed include manufacturers, marketers or distributor of furniture to retailers (29%) and designers that advise and/or select furniture for their clients (24%).
While retailers dominate the survey results, the other two segments – marketers and designers – are important participants in the industry, both dependent on retailers and in some cases competitive with them, so their perspective is also key. This report will highlight where there are meaningful differences in the survey results based upon the role played in the furniture industry.
No matter your role in the furniture market, this report will help you.
- For Furniture Retailers: Learn strategies and best practices from your peers
- For Furniture Manufacturers/Marketers: Learn more about your customers – retailers that sell your brands to their customers
- For Designers: Gain insights from retailers that serve furniture customers in different ways