We are at the cusp of a paradigm shift in the way home goods are sold. Offline has been the preeminent way of doing business for far too long and retailers have failed to keep up with MAJOR shifts in consumers spending habits. I’m just here waiting for something to trigger a new era (or changing of the guard) in the way the home goods world works. 2020 will be defining.
US Dept of Commerce predicts that US ecomm sales will surpass US$1 trillion by 2024 (up from 2019’s US $600 billion) and represent 18% of total retail sales (up from 2019 16.0%). Let’s see what happens next year…
$1,000 says that SMBs who still rely on offline revenue for more than 90% of their total sales by EOY 2020 will be extinct by EOY 2021.
Brand new look and even better offerings
We were recently featured in Furniture World Magazine, as we capitalize on growth in the online furniture space. With the popularity of online retail growing steadily, all furniture manufacturers will need a successful omni-channel revenue stream that balances both brick-and-mortar with ecomm.
Ecommerce is the fastest growing segment in the furniture industry with more than 66% of consumers looking online for their purchases. Leveraging this to maximize revenues and profits is possible - our experts can show you how.
The ticker: Very relevant reads 🔥🔥🔥
Can Wayfair keep losing money? (Business of Home)
Berkshire Hathaway's furniture biz flat in Q3 (Furniture Today)
3 key shopping trends, and how to use them (Think With Google)
High Point market thoughts 🎯
We attended market to meet with prospects, clients, and partners. Here's what we learned:
SMBs seem pretty optimistic about the fundamental industry drivers. Not many mentioned Amazon or Wayfair, even though both came out in force. Clear shift towards omni-channel distribution, with many manufacturers starting to think about how to best explore a digital revenue channel. Brick-and-mortar sales have been slower, much due to the impact of tariffs. Aging millennials are buying homes, which means they need furniture. They're looking online firstFor more interesting insight into the furniture industry, get in touch with us
You can trust us because we’ve been in your shoes
Bear was built and tested from the perspective of a furniture manufacturer, with deep roots in the industry. This means that we're fully aware of the sensitivities involved with scaling an online revenue channel while maintaining a strong dealer network. The two aren't mutually-exclusive, as many early adopters have experienced first hand. By having a single point of truth for all your ecommerce, you don't need to double-down on new hires and inflate payroll. In fact, by using furniture specific software you empower your team to get more done. It's a win-win.
Join the club
Yes, our monthly updates go out to a growing following of furniture industry readers. We also post insightful content on our LinkedIn and Instagram. You can also just ping us here for your invitation (it’s already filled out, just hit send).
If you have comments, questions, or tips on how to make a killer chocolate cake, talk to your boy. As always, be excellent to each other.
Founder & CEO | CommerceBear