MY TOP 6 NEW YEAR'S RESOLUTIONS I WOULD DO IF I WAS IN THE HOME AND FURNITURE INDUSTRY
December 29, 2024
#1.) PAY ATTENTION TO HOW DIFFERENT GENERATIONS SHOP FOR THEIR PRODUCTS.
Start following Joanna Williams on LinkedIn. Yes, she posts mostly about Fast Fashion trends, but what is important here is the "mindset" of those people and how and where they spend their money. To sum up what she writes about: "The retail landscape is being rewritten, and with it, the economic destinies of millions in the entire value chain".
The global website builders market is valued at $1.7 Billion in 2021 and is expected to grow at a 6% achieving a $3.5 Billion value over the next few years.
U.S. e-commerce sales grew to about $1.119 trillion in 2023 from $1.040 trillion in 2022 (7.6% growth). Meanwhile, total retail sales grew to about $5.088 trillion in 2023 from about $4.904 trillion in 2022 (3.8%). Feb 26, 2024
In 2023, U.S. e-commerce represented 22.0% of total retail sales, according to Digital Commerce 360 analysis of U.S. Department of Commerce data. That compares with 21.2% penetration in 2022.
READ MORE ABOUT MY RESEARCH & THE FACTS, HERE https://lnkd.in/eHs-2HBR.
#2) I’D PAY ATTENTION TO WHAT PEOPLE ARE BUYING AND WHY - SMALL SPACE LIVING.
U. S. Home sales are in the tank and probably will be for the next few years until our messed up economy gets back on track.
The fact is, people cannot afford homes and the 7$ mortgage they have to pay, so they are putting off this purchase and renting.
Over 416,000 new apartment complexes will be built this year, and the average apartment size is 1,200 sq ft. Multifamily construction in the last two years is at a 50-year high.
The average rent for this size apartment ranges between $1,200.00 - $2,300.00
Additionally, retirees are downsizing to smaller homes, condos, or apartments.Back when I ran the marketing at Ashley Furniture, we promoted “Room Packages” and what was really hot, were coordinated room packages: Living, Dining and Bedrooms with the same design theme.
NOT ANYMORE. People are NOT buying rooms anymore, they are buying “pieces” and smaller ones with storage options that fit into apartments and small space living quarters.
I still see retailers promoting Sofa, Love, and Chair groups, NOT just single pieces like the sofa, Love seat, or chair. Obviously, someone isn’t doing their “due diligence" and I’ll bet it’s hurting their bottom line.
Maybe that’s why the dedicated online stores are growing and you aren’t. You aren’t reading the “Tea-leaves”.
READ MORE ABOUT MY RESEARCH ON SMALL SPACE LIVING & THE FACTS, HERE; https://lnkd.in/e7-PzUp5
#3 THREE WAYS I WOULD MAKE MY WEBSITE STANDOUT FROM YOUR COMPETITORS
Many websites ignore the small space living trend/facts and don’t promote those products on their website/Home page. top 3 ways to show more, tell more, and sell more. Ironically, Wayfair, Walmart, Target, Amazo,n and many of your largest online furniture retailers do. WHY, you ask? Because they’ve done their due diligence and are stealing your search rank and sales
You are not offering a “Low Price Guarantee”.
This is so easy and so powerful. Give the customer assurance that they didn’t overpay. It’s simple, “Our price will not be beat on any “EXACT” item sold and delivered within XXX miles of our store” Sure online retailers may offer FREE SHIPPING, but I’m sure it is built into the price, so you should be fine. Either way, 25% of something is a lot better than 100% of nothing!
You are not promoting HOT BUYS UNDER $200.00.
These items are usually accessories.
If you sell accessories online, which is A MUST, work out a deal with your supplier to directly ship to the consumer from their warehouse/factory and you'll make even more money!
#3) You are ignoring the #1 website and store traffic driving platform….BLOGS
BLOGS generate 55% more website visitors and 67% more monthly leads.
With AI, creating blogs has become much easier, BUT be careful you don't over AI the content because you may get punished by search engines for fake content. (FYI< I create blogs if you want them).
#4) I WOULD LEARN THE POWER OF IN-STORE MARKETING. HOW TO DRIVE WEBSITE TRAFFIC INFLUENCE THE SALES AND UP-SELL.
Many retailers complain when it comes to the cost to dress your store for an event, or just everyday shopping. My question is, have you calculated that cost vs. The costs associated with not making the sale or up-sell?
75% of consumers surveyed state they would rather shop in-store vs. Online.
Use your website to drive in-store traffic.BUY IN-STORE AND SAVE. Consider offering Furniture HOT BUYS In-Store ONLY. Maybe tag items with an icon showing this. The goal is to get them in your store and potentially up-sell them with rugs, lamps, accessories, and more.
BUT, you must have your store dressed
Signs increase business as much as 150%
Here are a few additional thoughts:
READ MORE ABOUT MY RESEARCH ON IN-STORE SHOPPING & THE FACTS, HERE https://lnkd.in/eUZqrWtv
#5) I WOULD LEARN MORE ABOUT THE POWER OF SHORT PRODUCT VIDEOS AND THEIR INFLUENCE ON CONSUMER PURCHASE BEHAVIOR
Making product videos is so easy, yet hardly anyone in our industry does this.
Our phone cameras give you high-quality video and there are many free video editing software that makes doing this so simple.
The statistics behind short-form videos are nothing short of captivating.
Consumers find short-form content a staggering 2.5 times more engaging than long-form videos. This explosive growth is evident across platforms like TikTok and Instagram Reels, Facebook, and YouTube, where users are increasingly turning to quick, relevant content.
More ideas
Lastly, WATCH THIS SECTIONAL VIDEO ON TIKTOK: IT'S ONLY 12 SECONDS LONG!https://www.tiktok.com/@americanfurnituredublin/video/7136757564150287662?is_from_webapp=1&sender_device=pc
READ MORE ABOUT MY RESEARCH ON SHORT FORM VIDEOS & THE FACTS, HERE: https://lnkd.in/ge4acrPc
#6) - I WOULD ASK, MAYBE DEMAND MY SUPPLIERS START TO CREATE USEFUL CONTENT FOR MY RETAIL WEBSITE AND START TO TAG MY API FEEDS SO I CAN SHOW MORE, TELL MORE, AND SELL MORE.
75% of consumers would rather shop in-store, so give them the tools to make the sale easier.
WHY as a manufacturer wouldn’t you support your retailers that have made the commitment to sell your products with:
Consumers use their phones for everything.
When in the store, make sure your POS has QR codes for short videos, The Brand Story, quality construction points, The green thing, and more!
I could go on, and on, and on, and on about this subject having run the marketing very successfully for several furniture manufacturers. How do you think Ashley is always the #1 furniture company? Because they supply their retailers with EVERYTHING to sell more stuff!If you want to read all my research articles, they are linked below and referenced:
HERE ARE MORE LINKS, BELOW TO HELP YOUR RETAIL OR MANUFACTURER BRAND
MORE Research articles
ABOUT US
If you’re a brand that dares to be different, craves attention, and wants to leave its mark on the world, then we’re your people. Let’s make some magic (and maybe a little mayhem) together.
Catering to over 5,000 retailers, manufacturing companies, and other businesses nationwide!
Our arsenal boasts skilled graphic virtuosos, strategic masterminds, and adept account stewards. From inception to realization, we breathe life into your ideas, crafting visual marketing masterpieces that exude excellence. Let us materialize your vision and orchestrate an Omni-Channel approach that propels your retail empire or brand to unparalleled heights of success!
#1.) PAY ATTENTION TO HOW DIFFERENT GENERATIONS SHOP FOR THEIR PRODUCTS.
Start following Joanna Williams on LinkedIn. Yes, she posts mostly about Fast Fashion trends, but what is important here is the "mindset" of those people and how and where they spend their money. To sum up what she writes about: "The retail landscape is being rewritten, and with it, the economic destinies of millions in the entire value chain".
The global website builders market is valued at $1.7 Billion in 2021 and is expected to grow at a 6% achieving a $3.5 Billion value over the next few years.
U.S. e-commerce sales grew to about $1.119 trillion in 2023 from $1.040 trillion in 2022 (7.6% growth). Meanwhile, total retail sales grew to about $5.088 trillion in 2023 from about $4.904 trillion in 2022 (3.8%). Feb 26, 2024
In 2023, U.S. e-commerce represented 22.0% of total retail sales, according to Digital Commerce 360 analysis of U.S. Department of Commerce data. That compares with 21.2% penetration in 2022.
- 60% of business-to-consumer (B2C) brands get their customers through social media. 77% of businesses use social media to reach customers, and 41% of small businesses rely on it as a revenue driver.
- 76% of social media users have purchased something they saw on social media.
- Growth is predicted to be driven primarily by Gen Z and Millennial social media users, accounting for 62% of global social commerce spending by 2025.
READ MORE ABOUT MY RESEARCH & THE FACTS, HERE https://lnkd.in/eHs-2HBR.
#2) I’D PAY ATTENTION TO WHAT PEOPLE ARE BUYING AND WHY - SMALL SPACE LIVING.
U. S. Home sales are in the tank and probably will be for the next few years until our messed up economy gets back on track.
The fact is, people cannot afford homes and the 7$ mortgage they have to pay, so they are putting off this purchase and renting.
Over 416,000 new apartment complexes will be built this year, and the average apartment size is 1,200 sq ft. Multifamily construction in the last two years is at a 50-year high.
The average rent for this size apartment ranges between $1,200.00 - $2,300.00
Additionally, retirees are downsizing to smaller homes, condos, or apartments.Back when I ran the marketing at Ashley Furniture, we promoted “Room Packages” and what was really hot, were coordinated room packages: Living, Dining and Bedrooms with the same design theme.
NOT ANYMORE. People are NOT buying rooms anymore, they are buying “pieces” and smaller ones with storage options that fit into apartments and small space living quarters.
I still see retailers promoting Sofa, Love, and Chair groups, NOT just single pieces like the sofa, Love seat, or chair. Obviously, someone isn’t doing their “due diligence" and I’ll bet it’s hurting their bottom line.
Maybe that’s why the dedicated online stores are growing and you aren’t. You aren’t reading the “Tea-leaves”.
READ MORE ABOUT MY RESEARCH ON SMALL SPACE LIVING & THE FACTS, HERE; https://lnkd.in/e7-PzUp5
#3 THREE WAYS I WOULD MAKE MY WEBSITE STANDOUT FROM YOUR COMPETITORS
Many websites ignore the small space living trend/facts and don’t promote those products on their website/Home page. top 3 ways to show more, tell more, and sell more. Ironically, Wayfair, Walmart, Target, Amazo,n and many of your largest online furniture retailers do. WHY, you ask? Because they’ve done their due diligence and are stealing your search rank and sales
You are not offering a “Low Price Guarantee”.
This is so easy and so powerful. Give the customer assurance that they didn’t overpay. It’s simple, “Our price will not be beat on any “EXACT” item sold and delivered within XXX miles of our store” Sure online retailers may offer FREE SHIPPING, but I’m sure it is built into the price, so you should be fine. Either way, 25% of something is a lot better than 100% of nothing!
You are not promoting HOT BUYS UNDER $200.00.
These items are usually accessories.
If you sell accessories online, which is A MUST, work out a deal with your supplier to directly ship to the consumer from their warehouse/factory and you'll make even more money!
#3) You are ignoring the #1 website and store traffic driving platform….BLOGS
BLOGS generate 55% more website visitors and 67% more monthly leads.
With AI, creating blogs has become much easier, BUT be careful you don't over AI the content because you may get punished by search engines for fake content. (FYI< I create blogs if you want them).
- Blogging improves your rank on Google and other search engines.
- Blogging helps establish your authority and reputation in your niche.
- Blogging gets tons of new traffic which you can target for your products or divert to your website.
- Blogging helps establish a targeted loyal customer base which you can tap into in more than one way.
- Blogging helps build your email list as readers often subscribe to your feed or newsletter.
- Blogging helps spread the word about your business or its products.
#4) I WOULD LEARN THE POWER OF IN-STORE MARKETING. HOW TO DRIVE WEBSITE TRAFFIC INFLUENCE THE SALES AND UP-SELL.
Many retailers complain when it comes to the cost to dress your store for an event, or just everyday shopping. My question is, have you calculated that cost vs. The costs associated with not making the sale or up-sell?
75% of consumers surveyed state they would rather shop in-store vs. Online.
Use your website to drive in-store traffic.BUY IN-STORE AND SAVE. Consider offering Furniture HOT BUYS In-Store ONLY. Maybe tag items with an icon showing this. The goal is to get them in your store and potentially up-sell them with rugs, lamps, accessories, and more.
BUT, you must have your store dressed
Signs increase business as much as 150%
- Proper signage and point-of-sale (POS) materials can help increase sales and impulse buys dramatically.
- Using in-store visual triggers effectively may increase your sales by up to 29.5% since attention equals opportunity and unplanned purchases.
Here are a few additional thoughts:
- A flyer/ promotional printed item that highlights your specials, A flyer/ promotional printed item that highlights your specials, HOT BUYS, that you hand to customers entering the store? (Imagine Does This)
- On your website, do you offer $$$ incentives to shop in-store vs. the website?
- On your website, do you offer special discounts, or incentives, to pick up or purchase their online purchase at your store? We realize consumers can't pick up a sofa or bedroom, but you can deliver these with their delivery (Great up-sell opportunity for them to explore more in your store).
- l P.O.S. Highlighting the product features/benefits with a QR code so customers can view the product information online (Your website) and see any product feature/benefit videos. NOTE* Short product feature/benefit videos are ON FIRE. Read it HERE
- (UP-SELL OPPORTUNITIES) P.O.S. that highlights Buy The Piece - Steal The Room. (Offering special discounts for end tables, lamps, or nightstands, mirrors, rugs and more, etc.?
READ MORE ABOUT MY RESEARCH ON IN-STORE SHOPPING & THE FACTS, HERE https://lnkd.in/eUZqrWtv
#5) I WOULD LEARN MORE ABOUT THE POWER OF SHORT PRODUCT VIDEOS AND THEIR INFLUENCE ON CONSUMER PURCHASE BEHAVIOR
Making product videos is so easy, yet hardly anyone in our industry does this.
Our phone cameras give you high-quality video and there are many free video editing software that makes doing this so simple.
The statistics behind short-form videos are nothing short of captivating.
Consumers find short-form content a staggering 2.5 times more engaging than long-form videos. This explosive growth is evident across platforms like TikTok and Instagram Reels, Facebook, and YouTube, where users are increasingly turning to quick, relevant content.
- 73% of all consumers prefer short videos describing products
- Short videos have the highest ROI
- l Users spend an average of 45 minutes with short videos\
More ideas
- At the furniture markets, using your phone, video record your Sales Rep making a demonstration on the product(s) you are interested in. (Ask permission to use it, or duplicate it with your people when it is floored).
- You can easily do this with products you have on the floor, by recording a fellow salesperson to do a similar presentation in your store like the TikTok video I showed above.
- Be sure to have all of the features and benefits for consumers to view.
- l Keep the video at 30 seconds maximum, preferably shorter.
Lastly, WATCH THIS SECTIONAL VIDEO ON TIKTOK: IT'S ONLY 12 SECONDS LONG!https://www.tiktok.com/@americanfurnituredublin/video/7136757564150287662?is_from_webapp=1&sender_device=pc
- l 482,000 Likes
- l 1,507 Comments
- l 42,800 Bookmarks
- l 34,100 Shares
READ MORE ABOUT MY RESEARCH ON SHORT FORM VIDEOS & THE FACTS, HERE: https://lnkd.in/ge4acrPc
#6) - I WOULD ASK, MAYBE DEMAND MY SUPPLIERS START TO CREATE USEFUL CONTENT FOR MY RETAIL WEBSITE AND START TO TAG MY API FEEDS SO I CAN SHOW MORE, TELL MORE, AND SELL MORE.
75% of consumers would rather shop in-store, so give them the tools to make the sale easier.
WHY as a manufacturer wouldn’t you support your retailers that have made the commitment to sell your products with:
- l In-depth Product Content, utilizing Keywords for SEO. Tagging Small Space Furniture, etc. Product features, benefits and so much more
- l Quality Stories - Consumers demand product quality, the research below will show that. How it is made, sustainability, warranty information, and much more. Don't forget the Green Story, Millennials & Gen Z require that
- l Product Videos extolling the features/benefits of your product(s). Read my article on Short Videos, HERE; https://lnkd.in/ge4acrPc
- l 3D Product Rendering to show a 360-degree view and close-ups of the product materials and more
- l AND MORE (These are just a few)
Consumers use their phones for everything.
When in the store, make sure your POS has QR codes for short videos, The Brand Story, quality construction points, The green thing, and more!
I could go on, and on, and on, and on about this subject having run the marketing very successfully for several furniture manufacturers. How do you think Ashley is always the #1 furniture company? Because they supply their retailers with EVERYTHING to sell more stuff!If you want to read all my research articles, they are linked below and referenced:
HERE ARE MORE LINKS, BELOW TO HELP YOUR RETAIL OR MANUFACTURER BRAND
- QUALITY FURNITURE WEBSITES - https://lnkd.in/ezrDdFWe -
- PRINT IN YOUR MARKETING MIX - https://lnkd.in/eDjxn4qx -
- HOW TO DEFINE YOUR BRAND - https://lnkd.in/ectPFEQD
- SMALL SPACE LIVING - https://lnkd.in/e7-PzUp5 -
- THE POWER OF BOOMERS WHO HAVE ALL THE MONEY - https://lnkd.in/e8r8_HEZ https://lnkd.in/e2eZhs9U SEARCH
- E-COMMERCE VS. SOCIAL COMMERCE - https://lnkd.in/eHs-2HBR -
- THE POWER OF BLOGS - https://lnkd.in/eyyXnXcY
- THE POWER OF SHORT VIDEOS - https://lnkd.in/ge4acrPc
MORE Research articles
- In-Store shopping - #1 - https://lnkd.in/eUZqrWtv -
- More store shopping - #2 - https://lnkd.in/gjj5FCuJ -
- Accessories, hot buys #3 - https://lnkd.in/eNfMX5ja -
- People don't like salespeople -#4 - https://lnkd.in/ev_tSPnH -
ABOUT US
If you’re a brand that dares to be different, craves attention, and wants to leave its mark on the world, then we’re your people. Let’s make some magic (and maybe a little mayhem) together.
Catering to over 5,000 retailers, manufacturing companies, and other businesses nationwide!
Our arsenal boasts skilled graphic virtuosos, strategic masterminds, and adept account stewards. From inception to realization, we breathe life into your ideas, crafting visual marketing masterpieces that exude excellence. Let us materialize your vision and orchestrate an Omni-Channel approach that propels your retail empire or brand to unparalleled heights of success!
