From the Big Box Boom to the Online Shopping Explosion: Emerging Trends in E-commerce Furniture
The estimated value of the global furniture market sat at $579 billion in 2023 and is poised to reach $873 billion by 2030. About 35% of this revenue is expected to come from online purchases, signaling a massive opportunity for digital furniture retailers.
The global furniture market is rapidly changing in response to several factors. The total online US furniture market is projected to reach $41 billion by 2030, and younger generations are significantly influencing these shifts. Millions of millennials are preparing to purchase their first home. This generation enjoys shopping online and is searching for functional, sustainable, and affordable furniture that meets these desires. Gen Z consumers also contribute to the market's growth by purchasing dorm or apartment furniture.
In addition to these trends, there are several other considerations that e-commerce retailers should consider when designing, launching, and marketing their furniture collections. Trend cycles are now shorter than ever, and consumers are increasingly looking to online retailers to satisfy their need for popular yet high-quality products. However, retailers must be able to recognize consumer interests and quickly develop furniture that brings them to life. This change should inspire e-commerce furniture retailers to shorten product development timelines to capture growth in the newest trends.
Walker Edison, a leader in e-commerce furniture, has completed in-depth research that brings more context to the global furniture market. Since 2006, the company has produced high-quality, innovative, and trendy furniture that is affordably priced. Walker Edison has utilized customer research recently to inform its design and marketing strategies. Whether examining consumer habits or the impact of a recent launch, the company is uniquely positioned to provide its opinion on upcoming trends for e-commerce furniture retailers.
Some of Walker Edison’s recent research has been focused on customer insights and how retailers can better capture their interest. Walker Edison has highlighted the potential factors contributing to the demand for e-commerce. The main reason for this boost in sales relates to consumers’ heightened interest in buying furniture online. According to a survey of 300 furniture consumers aged between 25 to 50, 33% are already purchasing furniture online. Many people now consider the quality of furniture online and in-store to be equal. This presents a great opportunity for retailers to attract more consumers online by listening to their desires.
Consumers enjoy shopping online as it can be more convenient and affordable and have more options, including trending pieces. For e-commerce furniture retailers to increase their success, they must look for areas of improvement. Walker Edison’s research shows that consumers are looking to better understand the product they are purchasing first and foremost. Producing how-to videos and developing written content that simplifies assembly are two easy ways to close this knowledge gap. Consumers are also seeking better customer service and support, which ranks higher than faster shipping times. This demonstrates that consumers are willing to wait longer for a product that is easier to understand and comes with more support.
Consumers are currently looking for pieces that ‘warm’ the space with soft curves and natural materials like wood with small pops of color. Walker Edison is determined to continue producing original, innovative, and trendy products for consumers by leveraging consumer research.
“Our homes are meant to bring us peace, relaxation, and comfort, which is why it’s such a personal thing to design furniture items for this space,” says Christine Bruton, Chief Marketing and Sales Officer. “At Walker Edison, we provide consumers with many quality, on-trend items at approachable prices. We are always looking to tailor our products to consumer desires and embrace innovative ways of designing and operating our company. Walker Edison does more than sell furniture though. We take great pride in our thoughtful design process, and we work to give back to local communities.”
Walker Edison will be launching new kitchen, dining, and bedroom items this summer and fall. The company is simplifying the ready-to-assembly experience by developing an easy-to-assemble system that will drastically reduce assembly time, without sacrificing quality or design.
As the furniture market continues to experience rapid growth and emerging new trends, e-commerce furniture retailers must shift alongside industry changes. A large majority of Americans still consider owning a home as the American dream and college students will remain in need of trendy furniture for their dorms. On a global scale, the vacation and residential rental market is also increasing demand for functional and stylish furniture pieces. E-commerce furniture retailers can tap into these unparalleled growth opportunities if they are responsive to upcoming changes.
