Nearly one-third (29%) of consumers surveyed by Dentsu in February 2024 were reducing their spending or delaying a furniture purchase, while 19% were just as likely to increase spending or make an impulse purchase.1 This presents both a challenge and an opportunity to engage consumers with furniture marketing campaigns with compelling offers to increase their likelihood to make a purchase.
Connected Television (CTV) advertising has become a valuable tool for furniture marketers to engage their audience. Integrating OTT/CTV into your furniture marketing strategy can significantly amplify brand awareness, boost ad recall, and enhance purchase consideration.
Interestingly, CTV ads are more cost-effective than traditional linear TV ads. With a lower cost per thousand impressions (CPM), CTV ads can be a more affordable alternative for furniture marketers aiming to reach specific audiences. Nearly half (45%) of CTV viewers reveal that they are more likely to make a purchase after viewing a relevant ad on their connected device, emphasizing the impact CTV advertising can have on furniture purchasing decisions. 2
CTV drives engagement and conversions. 75% of CTV viewers have responded to an ad by either visiting a website, searching for more information, or making a purchase. 2
Capitalizing on New Movers with Strategic Furniture Marketing
The period of moving to a new home presents a prime opportunity for furniture retailers to connect with potential customers. By understanding the needs and preferences of movers, retailers can strategically target this demographic seeking furnishings for their new spaces.
44% of movers are looking to purchase furniture for their new homes, and movers spend on average 3.4 times more on furniture and appliances than non-movers. 2 In terms of shopping habits, 80% of movers do research online when looking for furniture and home goods. 2
Understanding these trends can help furniture retailers craft targeted direct marketing strategies. As many as 82% of movers take note of and engage with direct mail specifically related to their move. 2
To stay ahead in the furniture retail industry, it’s critical to seize these opportunities and adapt to these changing trends. Whether it’s utilizing CTV advertising or tapping into the new mover demographic, taking these steps can significantly drive your engagement, conversions, and ultimately, sales.
To learn more about leveraging these solutions to drive customer acquisition and sales, click “get started” below.
Sources: Consumer sentiment toward furniture purchases shows it’s still a waiting game, furnituretoday.com, March 12, 20241; Porch Group 20242
