June 3, 2024
The growth in online shopping has significantly boosted the furniture e-commerce business. Interestingly, the rise in the global pandemic further augmented furniture sales. While people stayed at home, this emphasized improving the surrounding spaces.
The demand for furniture products remained at its peak. In September 2020, U.S. shoppers spent $10.7 billion on home furnishing. However, over the years, furniture e-commerce businesses have faced many challenges, such as supply chain disruptions, shortages of raw materials, a housing recession, and reduced consumer spending. In 2024 the US home decor market segment generated revenue of $35.44bn and is projected to experience an annual growth rate of 4.90%.
Furniture industries need more certainty regarding engaging consumers to generate more significant sales. Furniture companies need to solve the challenges of attracting consumers and retaining customers. In the current scenario, market disruption is possible only when consumers stumble upon innovative ideas, products, or services.
The global market remains uncertain today, but home decor and furniture stores are expected to grow with the right tap into key industry trends. But before we understand it, let's briefly explore the furniture e-commerce business.
Furniture e-commerce emphasizes buying and selling furniture products through an online platform. The digital marketplace encompasses a wide range of furniture items, including sofas, beds, tables, chairs, desks, and more. Currently, e-commerce platforms have opened excellent business opportunities, leading to seamless product marketing and efficient sales growth.
Furniture e-commerce businesses can sell furniture online by introducing dynamics like hyper-personalized marketing, augmented reality for furniture, and the ability to contextualize potential companies with the home environment.
When purchasing online, shoppers look for convenience. To make the process seamless, it is essential to consider customer preferences for an easy, convenient, and omnichannel experience. A smooth platform with 3D e-commerce integration can effectively engage consumers, generating business sales.
Now, let's check out some of the biggest furniture e-commerce trends for 2024 and understand how the sector is transforming.
Furniture shopping is experiencing significant upheavals, and retailers must stay current with the latest strategies and tactics.
The difficulty of visualizing how a furniture product fits into an allotted space severely disrupts the furniture e-commerce market. Businesses leverage advanced technology, including augmented reality, for seamless testing, visualization, and furniture purchase.
The global e-commerce sales are forecast to hit $6.3 trillion in 2024.
Many furniture e-commerce companies are embracing 3D e-commerce; as a result, these businesses have witnessed remarkable results boosting enhanced online sales. Integrating 3D models on e-commerce sites for furniture businesses opens an interactive and engaging shopping experience. The technology implements
3D e-commerce in the furniture industry provides a comprehensive understanding of furniture products, designs, textures, and dimensions. WebAR enables customers to interact with 3D models. Its better visualization reduces return rates, and its features provide valuable data on customer preferences and behavior. The integration of AR technology enables consumers to place furniture in different scenarios (room settings). It opens a perfect fit, visualizing the product's aestheticity.
3D e-commerce isn't just another furniture trend. It replicates the tangible aspects of in-person shopping, offering the convenience of online purchasing. Many leading brands are implementing 3D views with in-room features. Implementing augmented reality (AR) further enhances the online shopping experience.
Customers can now visualize and compare different furniture products by virtually placing them in their own space.
Predefined catalogs are a thing of the past. Consumers no longer have time to browse passively, creating a detached and impersonal shopping experience. These days, online shoppers seek deeper customer engagement with a sense of involvement. 3D product configurators enable customization in the e-commerce landscape.
Furniture configurators empower clients by opening a spectrum of options per their requirements. From selecting colors, materials, sizes, or finishes, 3D furniture configurations are transforming the customer experience with active participation. This engagement establishes a profound connection, developing a co-creation and emotional investment.
71% of consumers who customize a product state they can pay a premium price- Source Deloitte
One prime example is that developed by Ikarus Delta. It features advanced tools to showcase customization options, including 360-degree views, alternate image angles, and high-quality imagery. These enhancements have proven to cater to interior design enthusiasts engaged in the expansive realm of e-commerce.
A virtual showroom replicates the experience of a physical showroom. With advanced technologies like 3D modeling, AR, and VR, customers can explore products in an interactive environment. Integrating an immersive showroom within the sphere of furniture e-commerce harnesses cutting-edge technologies, including artificial intelligence (AI). Virtual showrooms address the challenge of product visualization in the online furniture shopping experience.
A survey under GfK found that 47% of consumers are willing to pay more if they can experience virtual or augmented reality.
These showrooms allow customers to place furnishing items in various backgrounds. This will enable them to scale, proportions, and experience aesthetics before the final purchase. Virtual Showrooms will enable customers to explore different design options and swap colors and finishes, creating a personalized and interactive shopping experience. Leveraging digital platforms provides various opportunities for furnishings. Customers can explore various products, styles, and designs that may not be available physically. Also, they can access the full range of available furnishings with the perfect pieces that suit their preferences.
Inconsistent user experience disconnects the consumer, and transitioning from one channel to another is challenging. Omnichannel integration is a leading furniture trend in 2024. It aligns messaging, branding, and customer interaction across various touchpoints.
Customer interaction can happen through various platforms, i.e., a website, mobile app, social media, physical store, or customer experience omnichannel integration, which makes the overall experience cohesive. The omnichannel approach puts the customer at the center of the strategy, creating a consistent experience at every touchpoint in the customer lifecycle. The focus is on moving smoothly between channels with data analytics. Customers can purchase products online and pick them up at a physical store.
Companies with robust omnichannel strategies retain an average of 89% of their customers compared to 33% for those with weak omnichannel strategies. Source Harvard Business Review
Integration of top-notch inventory systems with customer data ensures customer preferences, shopping history, and shopping carts are accessible across various platforms. This seamless transition enhances convenience and saves time, encouraging customers to engage with the brand.
Smart furniture combines state-of-the-art technology with conventional design, transforming the overall surroundings. The technology now offers ready-to-accommodate comfort, productivity, and lifestyle. Additionally, this furniture adjusts firmness based on posture or adapts to a smart living environment that sets those surroundings with just voice commands.
Smart furniture promotes wellness, i.e., healthier sitting and intelligent chairs with posture alerts. These furniture e-commerce trends optimize space and add elegance and sophistication to the interiors. Some of the popular smart furniture include
The vast array of choices offered by furniture stores makes it challenging for shoppers to find the right product. AI-powered technologies, including machine learning and data analytics, ensure a personalized and tailored experience for furniture shoppers. Also, AI-powered technologies can analyze user shopping behaviour, preferences, and past purchases to align with a customer's style and requirements.
AI-driven tools allow customers to visualize and simulate different products in different spaces. It enhances a consumer's purchasing confidence.
It must be interesting to know that the e-commerce dimension is rapidly growing, and businesses must stay updated with furniture industry trends. Here are the top reasons to consider for business growth.
Implementing the latest furniture e-commerce trends allows the business to expand. A consumer lands on your website, where they get access to the latest inventory, allowing shoppers to make a purchase. Besides, the customer can explore different stages of the shopping journey, i.e., exploration, visualization, and purchase.
An enriching e-commerce experience allows consumers to segment seamless furniture shopping journeys. Customers look for an updated, customizable experience. Personalized recommendations, up-to-date order information, and quality content enhance customer engagement on your website.
The integrated approach of multiple channels ensures a seamless user experience across every touch point. The business can empower customers to choose and purchase products whenever and wherever they want. Meanwhile, furniture stores need to interact with people regularly; when shoppers can decide where and how to buy and perceive the retailer not as a set of outlets but as a brand, this will make a difference.
Personalization, customization, and interactive product visualization are expected to transform the furniture e-commerce industry. Visual configurators are slowly driving the digital market.
Visual content allows better storytelling and emotional connection with the audience.
Visual configurators that can accurately and quickly display the offered options are necessary. It tailors products and experiences to individual preferences, creating a more engaging and satisfying shopping journey.
When seamlessly integrated with the existing system, visual configurators offer flexibility for each unique aspect of the business.
Generative AI has enhanced the ability to search for a product, providing visual-based search engines. AI-powered recommendations have mainly been successful in helping consumers identify and locate items. Visual search reduces the amount of overwhelming results a consumer must sift.
Furniture e-commerce is in a transition phase where businesses are exploring opportunities. The furniture industry is known for its volatility, and as a result, market disruption can only be dealt with when brands ensure interactive product engagement.
The introduction of 3D product configurators is slowly transforming the industry. The ability to allow customers to visualize products in a more interactive and personalized way brings greater business engagement and higher conversion rates. Some of the critical features that furniture configurators possess include,
It allows customers to personalize their items as they want them. With accurate measurements and realistic views, the customer experience is taken up by a notch.
Businesses can now turn their products into the best-looking version with tailor-made 3D models and lifestyle renders.
Furniture companies can digitize products for unlimited customizations, promoting the customer purchasing process.
The furniture configurator is cloud-based and powered for instant integration.
Topnotch technologies have been integrated into 3D furniture configuration. Here are some key areas you must understand.
It makes home furnishing exploration more immersive by elevating the overall customization experience.
Customers can take a variety of product snapshots with clear and realistic visuals.
Customers can understand the pricing details automatically with every customization, ensuring transparency and efficiency at every step.
The captivating product animation brings the client's vision to life, allowing one to see every detail in motion. This ensures that each piece meets the client's exact specifications before finalizing the order.
The furniture e-commerce market is moving gradually towards consistent growth. The primary focus stays on more than just expanding and maximizing business profitability. Ikarus Delta helps brands improve their e-commerce furniture store with a personalized business approach. We leverage iframes to guarantee realism and accuracy. The data is curated and filtered, ensuring high-quality and reliable information is used. With such meticulous attention to detail, it leads to product visualizations that look lifelike and immersive for customers.