– According to a TD Bank survey, the COVID-19 pandemic greatly impacted the retail furniture industry, causing a shift towards e-commerce strategies.
– Home furnishings and furniture retailers are feeling the pressure to prioritize omnichannel strategies and adapt to an online sales environment.
– Some major pain points for furniture retailers include maintaining ample inventory, smoothed order fulfillment processes, and providing top-notch customer service.
– The most significant class of retail furniture companies facing issues are those with $50 million or less in annual sales. These smaller companies struggle to keep up with increasing digital demands.
– According to the survey, most retailers are concentrating on advancing their technology in order to advance with the digital trend.
– Both large and small scale retailers are investing in e-commerce infrastructure and customer engagement tools to stay competitive in the furniture market.

Digital Shift in Furniture Retail Industry

Impact of COVID-19 on Furniture Retailers

Shift towards E-commerce Strategies

Pain Points for Retailers

Struggles for Smaller Retail Companies

Future Focus: Advancements in Technology

Investing in E-commerce and Customer Engagement Tools

In this digital era, furniture retailers are grappling with an accelerated shift towards e-commerce. Consequently, owning to the COVID-19 pandemic, this transition has been both a blessing and a curse. As consumers refrain from in-person shopping, retailers are feeling the pressure to explore online sales avenues and ensure top-class customer experience. The struggle is particularly evident for smaller companies who falter in the face of increasing digital demands. Nonetheless, the industry is gearing up, employing technology, and investing more in e-commerce infrastructure and customer engagement tools. The tides are turning, and like it or not, the future of the furniture retail industry is undeniably digital.

originial article https://www.furnituretoday.com/?p=316904

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