Amazing Stats & Trends about eCommerce Furniture Industry

If you are planning to move your traditional furniture business on ecommerce just like the big players did, then you must be very happy as we have amazing statistics regarding that. Statistically, the furniture industry is lagging behind other areas of retail when it comes to ecommerce. A lot of furniture brands are leveraging the technology of ecommerce due to huge opportunities online.

We have gone through hundreds of statistics reports and have presented this article. The furniture industry, especially in the B2B business, maybe the industry’s biggest thing. The ecommerce market would be a battleground with tight competition between supply chain channel partners, including manufacturers, wholesalers, and distributors of home furnishing goods. The worldwide online furniture sales are expected to grow at an average annual growth rate of 10.0% between 2019 and 2023, resulting in a market volume of $289.3 billion in 2023. In the US alone, the furniture and home furnishings industry will account for one-third of ecommerce by 2023.

Biggest Players in the Furniture Industry

Here is a complete list of the pioneers of the furniture industry:

• IKEA
• CORT
• Wayfair
• Lulu and Georgia
• Zinus
• Amazon
• Anthropologie
• West Elm
• One Kings Lane
• Novogratz
• World Market
• Masco
• La-Z-Boy
• Ashley
• Danube Group
• 2XL Furniture and Home Decor
• Royal Furniture
• Linshimuye
• Kuka Home
• Suofeinuo

A Brief Look Upon Past

Let’s know the status of the furniture industry a few years ago. In 2016, the furniture marketplace was not a common thing, most buyers researched furniture online prior to make a purchase. It wasn’t difficult as 9 out of 10 furniture companies were having their website for showcasing their products. However, only 30% of those websites were having ecommerce capabilities. Things are changing. We have seen major growth in the furniture ecommerce industry.

Retail eCommerce Sales Growth by Product Category

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Some of The Old Statistics are

• $26.7 billion furniture ecommerce revenue reached $26.7 billion in the US in 2015
• Made.com grew its sales by 63.4% to €42.8 million in 2014
• 1 out of every 2 furniture searches happens on a mobile device
• 47% of furniture shoppers purchased using a mobile device
• 49% of online furniture purchases followed a non-branded query
• 66% of in-store purchases accessed the internet while looking for information on furniture
• 75% of upholstery buyers tapped online resources while 60% researched by visiting a brick-and-mortar store
• Online furniture purchases were searched 14.2 times prior to purchase

Even Social Media Was Also Playing a Big Role

• 86% of furniture stores are on social media
• 45% of users said Pinterest aided a home product purchase decision
• 88% of furniture brands market on Facebook
• 60% of furniture brands use Pinterest and Twitter
• Furniture stores devote 3% of their ad budget towards social media promotions

What are they buying online?

• 53% of customers say they would buy a sofa online
• 80% of customers would buy a mattress online
• Millennials plan to buy mirrors at a rate of 2 times greater than their presence in the population

What are The Stats of The Furniture eCommerce Industry Today?

Here are the amazing stats of the furniture ecommerce industry in 2020:

• 8 out of 10 consumers have bought furniture online
• The furniture ecommerce industry represent a worldwide valuation of $200 billion
• Online sales represent over 90% of the growth in the industry overall
• Nearly one-third of customers prefer to purchase furniture online
• B2B sales in the furniture ecommerce industry make up 30%.
• 16% of furniture and home goods sales are made online.

From the stats, it clearly seems that B2B buyers are not indulged in the massive purchase of the furniture online, but 90% of them are using online channels as a purchase touchpoint. B2B organizations today are prioritizing online sales in the industry, and for good reason:

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These stats can be new but they are not surprising. What is more surprising is the fact that the industries are not just achieving all of these goals. They are just inspired by these achievements to invest in ecommerce.

Also Read: How To Develop Online Furniture Store & App – Cost & Features

Here’s how the successful organizations fared

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