A niche market?
Furniture is unwieldy in more ways than one. Compared to other consumer goods, it is uniquely large, heavy, expensive and bulky. This means that ordering furniture online comes with a certain amount of risk for the consumer, one that can – in most cases – only be minimized through high-quality, detailed images or by visiting a showroom. The good news is that none of this has stopped customers from ordering their furnishings on the web.
During this time of raw material scarcity and disrupted supply chains, this is a ray of sunshine for retailers. Alas, it also means that costs are increasing. Because simplified delivery and return options have not only led to an order boom in recent years, but also to an increased number of returns. As a result, the warehousing costs incurred by retailers have skyrocketed. But the growth of e-commerce in the home furnishing sector is not just fraught with logistical pitfalls – the number of competitors has also grown. Competitive pressure is on the rise. An increasing number of private labels is flooding the market. Because many home goods retailers use white labeling and offer identical products in different stores under different names and descriptions, it is nearly impossible to keep track of the relevant competition.
Understanding the market to influence the market
In order to conquer a niche in this market, you need to know who the relevant competition is, monitor comparable products and their prices, and be among the first to identify a trend. But most online retailers simply lack the resources to do so.
Only with the help of high-quality data collection and experienced experts at your side is it possible to gather and organize the necessary amount of information and draw the right conclusions for your business. We can help you sort it out – with data consulting and custom, personalized solutions using our unique SaaS+ approach.