Press release
How to start and expand in modular furniture & home decor business?
“Necessity is the mother of invention” resonates well with the modular furniture and home décor industry in the last few years. The wants and demands of consumers have changed drastically, and while they always need furniture, the way they look out for furniture has opened windows for new growth opportunities in this sector. The increasing dependence on comfort offered by smart furniture and obsession with design and décor has perpetuated a massive increase in sales of furniture and home décor in every segment. As per surveys conducted earlier this year, the furniture and home décor industry would continue to be one of the fastest-growing segments of e-commerce sales this year. Online furniture retailers have blossomed to become Unicorns of the New World. Let us look at the factors responsible for this:1. Shift to Digital Niche:
The rise of e-commerce in the modular furniture industry has created unprecedented growth waves in the last five years. Consumers are on the lookout mainly on social media platforms for collections of contemporary furniture and home decor online that will be delivered to their doorstep while they sit in the comfort of their home. As a result, the modular furniture business ( https://www.yourretailcoach.in/industries/retail-furniture-furnishings-consulting/ ) is paving new ways to showcase their products online to customers so that they can easily visualise how a particular piece of furniture will look in their new home in realistic photo quality. In addition, by leveraging AI, automation and IoT, the modular furniture industry will be able to fully automate its workflow and accelerate time-to-market to cater to the increasing demands.
2. Increase in demand for Customizations
Choosing the right furniture for your home from the varied options available can be a daunting task. The younger generation moving to their small spaces expect so many bits and pieces to come together and complement each other while they decide on the perfect fit for their homes. Brands today are placing more investments in product customizations with an aim to enhance customer experience.
3. Smart Furniture
With the onset of the millennial generation, furniture is no longer what it used to be in our traditional homes. Consumers now demand modular furniture that is multi-purpose, portable and technology-driven, especially due to smaller living spaces. These serve several varied functionalities such as charging mobile, browsing the Internet, listening to podcasts or the news to meet the changing lifestyle demands. Brands are now utilizing Google home and Alexa functionalities in their furniture pieces to meet the expectations of their tech-savvy consumers.
With rising levels of disposable incomes and urbanization, consumers are looking to make their living spaces more decorative and artistic. In addition, the advent of the e-commerce industry ( https://www.yourretailcoach.in/industries/online-retail-ecommerce-consultants/ ) has made the home décor industry more available and convenient to buy. Let’s look at the main growth drivers in this domain:
1. Building Customer Trust through Personalization
Consumers have become inclined to believe living and workspaces are a reflection of their personalities. With the influence of social media platforms, they are aware of home fashion trends and gravitate towards brands that help them create spaces that reflect their identity and offer personalized services. Customers seek inspiration and motivation and find verbal cues online as they gear towards making their space as personal as can be. Brands must now be prepared to satisfy customers seeking that small detail of a Spanish chic mantelpiece or the big detail of a Bohemian mood setting.
2. Sustainability of Products
With the increasing disposable income, consumers not only want to consume more but also consume better and more responsibly. As a result, consumers gravitate to home décor brands that are involved in upcycling, recycling, and experimenting with alternative materials. Replacing plastic with renewable raw material holds more traction than ever in the market today. As the demand for recycled home decor products grows, it has become a large segment; the market and price and value offers flexibility. Using heritage, storytelling and adding more essence to the value chain can make your products stand out to the consumers.
Home décor and furnishing are a booming industry and hold a lot of potential for generations from the increasing number of young consumers who are social, visual, and digital. Modular furniture and home décor industry brands must deliver fast, convenient, and personalized shopping experiences to be at the forefront. They now have the power to engage with customers online and offline with revenue-generating opportunities.
If you have a furniture business or are planning to start a furniture ( https://www.yourretailcoach.in/industries/retail-furniture-furnishings-consulting/ ) and home decor business but don’t know how to do it. You may take consultation from your retail coach. Furniture and home decor Industry experts at your retail coach will help you to establish and expand your business. They will assist you as an extended hand by turning your dream business idea ( https://www.yourretailcoach.in/retail-business-plan/ ) into reality.
Get advise for Retail Business Consulting : https://www.yourretailcoach.in/contact/
3025/8, 4th Floor,
Shrinidhi Chambers, Opp. Passport Office,
Before Symbiosis College,
Senapati Bapat Road,
Pune - 411016
YRC is a Management Consulting Company, especially for the B-C Sector.
Our expertise lies into designing of Standard Operating Procedures (SOPs), Franchise Development, Strategy & Operations services, Process Audits & Training.
We help companies to organise their operations and expand through best management practices.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release How to start and expand in modular furniture & home decor business? here
News-ID: 2396316 • Views: …
More Releases from YourRetailCoach

Dealing with Demand Volatility in Retail: YRC Insights
Demand volatility and forecast errors make inventory tough. YRC shares expert tips to tackle demand uncertainty in retail.
Volatility in demand and errors and lack of accuracy in demand forecasting make inventory and supply chain management one of the most difficult operational challenges in the retail business. In this communiqué, the team of retail business strategy experts ( https://www.yourretailcoach.in/retail-business-plan/ ) of retail and eCommerce consulting firm - YourRetailCoach (YRC) highlights some…

The Unexpected Ways Supermarkets Are Expanding: YRC Insights
Supermarket owners face sameness, rising competition & complexity. YRC experts share overlooked tactics to drive growth & expansion in this communiqué.
Homogeneity of value propositions, similarities in layout and servicescape, rising cross-channel competition and operational complexities have necessitated today's supermarket business owners to look for innovative and unconventional solutions for sustenance and scale. In this communiqué, the team of supermarket consulting ( https://www.yourretailcoach.in/industries/retail-grocery-supermarket-kirana-consultants/ ) experts of retail and eCommerce consulting firm…

Converting Browsers into Buyers in ECommerce (Part Two): YRC Insights
YRC notes growing concerns among eCommerce brands over digital marketing ROI and offers insights and solutions to boost campaign effectiveness.
With a long stint in delivering eCommerce consulting services, retail and eCommerce consulting brand - Your Retail Coach (YRC) accentuates that there is a growing concern among eCommerce and omnichannel brands and businesses about the quality of the results from their investments in digital marketing campaigns. In this and a previous…

Converting Browsers into Buyers in ECommerce (Part One): YRC Insights
YRC notes rising concerns among eCommerce brands over digital marketing ROI and shares key challenges and solutions to boost returns.
With a long stint in delivering eCommerce consulting services ( https://www.yourretailcoach.in/e-commerce-consulting/ ), retail and eCommerce consulting brand - YourRetailCoach (YRC) accentuates that there is a growing concern among eCommerce and omnichannel brands and businesses about the quality of the results from their investments in digital marketing campaigns. In this and a…
More Releases for Consumers
Data Catalog Market: Serving Data Consumers
Data Catalog Market size was valued at US$ 801.10 Mn. in 2022 and the total revenue is expected to grow at a CAGR of 23.2% from 2023 to 2029, reaching nearly US$ 3451.16 Mn.
Data Catalog Market Report Scope and Research Methodology
The Data Catalog Market is poised to reach a valuation of US$ 3451.16 million by 2029. A data catalog serves as an organized inventory of an organization's data assets, leveraging…
PASSFEED CALMS CONSUMERS' 'PANIC BUYING'
(New York, NY) March 13, 2020 -- It's Friday the 13th; an ominous day that would have superstitious people a little more cautious as they head out for the weekend. Unfortunately, much bigger threats have taken affect and instilled fear in the public's eye, which has led to widespread "panic buying" amid growing cases and concerns of Coronavirus disease (COVID-19).
Shelves are empty for toiletries as consumers continue to buy…
VoIP Services Market (Corporate Consumers And Individual Consumers) - Forecast 2 …
Rising demand for affordable communication services across the globe and improving wireless and wired network infrastructure is fuelling the growth of voice over internet protocol (VoIP) services market. Voice over Internet Protocol (VoIP) is a methodology used for communication. It uses various technologies such as IP telephony, voice over broadband, and internet telephony among others to provide communication services over a packet switched network (IP data network). In order avail…
Merchants and Consumers Score with DataPoint
SCOTTSDALE, AZ -- SoftPoint (www.softpointcloud.com), a cloud-based company which provides a suite of products tailored to the unique needs of Point of Sales businesses, recently announced the release of a patented product named DataPoint. DataPoint is a product created to allow separate environments to communicate to each other, expressly for merchants to be EMV compliant without interruption or upgrades to their current POS system offering an easy to use pay…
NovaBACKUP Named Consumers Digest Best Buy
NovaBACKUP software named 2011 Best Buy in Computer-Security Software.
Agoura Hills / (CA) USA, April 18, 2011 – NovaBACKUP Professional 12 by NovaStor, a pioneer in data protection, has received the 2011 Consumers Digest "Best Buy" award in the Windows backup software category of the Computer-Security Software Best Buys in the March/April issue. On average, a Consumers Digest "Best Buy" is awarded to fewer than 3% of the competing…
Becoming Better Hearing Care Consumers
Thanks to recent updates on the website, Advice On Hearing Aids, hearing aid consumers now have 1,200 pre-approved clinics to choose from. They know before even scheduling a visit what to expect during their hearing test. When they return home, comparisons of hearing aids, from the latest featuring Bluetooth-quality sound to the basic digital device, are a simple click away.
“As audiologists and hearing care professionals, we maintain the Advice on…