As furniture sales have cooled from their peak during the pandemic, furniture marketing must adapt to shifting consumer buying patterns.
As furniture sales have cooled from their peak during the pandemic, furniture marketing must adapt to shifting consumer buying patterns. The latest furniture shopping trend research from Mintel revealed that consumers are looking for affordable, versatile, eco-friendly home goods, and they want a flexible, multi-channel shopping experience that enables them to make informed purchasing decisions.
Over the past 12 months, the majority of consumers (65%) shopped for furniture, focusing on living room and bedroom furnishings, a trend that is expected to continue this year. With remote work becoming the norm for many, home office furniture will remain an area of opportunity for furniture retailers as well.
- In the past 30 days, 16% of U.S. consumers have shopped in a physical furniture store. 10% have shopped online.1
- In the next 90 days, 58% of consumers plan to spend more/ about the same on furniture as they did the previous 90 days.2
- 33% of U.S. adults plan to purchase bedroom, dining room, or living room furniture in the next year.2
- 47% of movers plan to purchase furniture or home decor within the first 12 months of moving.4
The top categories purchased in 2022 included living room furniture and sleep or bedroom furniture.
Furniture retailers must deliver value—convenience, affordability, premium quality—to consumers who increasingly engage with both online and physical store locations to make purchasing decisions.
Multi-Channel Shopping Experience: While the in-person shopping experience is critical for home goods shoppers, they increasingly shop for items across multiple channels.
- In an effort to make more informed purchasing decisions, consumers are researching online to compare prices, read reviews, and browse their options before making a purchase. To meet the needs of these omnichannel shoppers, brands and retailers must meet them where they are and provide an integrated shopping experience.
- Convenience is essential when shopping online for the home – enhanced deliveries, minimized shipping costs, and easy returns.
Information available online allows consumers to make more informed purchasing decisions. Despite preferences to shop for furniture and home décor in stores, consumers will continue to incorporate digital channels in their journey.
Source: Kantar Profiles/Mintel, February 2023
It is important that advertisers engage the most effective advertising channels in planning a furniture marketing strategy to reach shoppers seeking value and convenience. In the past 12 months, furniture shoppers have responded to media across multiple channels:
- 58% responded to pre-roll video
- 62% have responded to streaming TV
- 56% have responded to an internet ad
- 60% have responded to ads or offers in the mailbox
Expanded Product Offering: Brands and retailers are expanding product assortments to cover the needs of a wider consumer base by exploring various styles, life stages and spaces in the home. Choosing a strategic approach to inventory will help retailers remain competitive.
- Sorting the product assortment based on price (e.g. low to high)
- Enticing consumers with rewards programs that drive loyalty
- Providing flexible payment options
- Expanding fulfilment options to allow consumers to save on shipping costs.
- Offering alternative shopping options like rentals or resale
- Monetizing returned inventory through open-box sales
Despite challenges posed by inflation and budget-consciousness, the home furnishings market is expected to reach a total value of $338 billion in 2023.3 Reach out today to plan your multi-channel furniture marketing strategy.
Sources: AdMall 20231; Prosper Insights & Analytics2; US Census Bureau, Annual Retail Trade Survey and Quarterly Ecommerce Survey3; Porch Group Media4