As furniture companies are gearing up for the Las Vegas Market which opens this Sunday, Furniture Today reported that according to a recent survey seven out of ten consumers shop for furniture online. But don't worry, the key word to keep in mind here as you are busy preparing for the Las Vegas Market is "shop". The vast majority, just over seven in ten, still buy their furniture from traditional brick and mortar stores. Nevertheless, it is very important that you have your merchandise available both at brick and mortar stores as well as online.
What this means is that approximately 30% of consumers still shop and buy their furniture at traditional brick and mortar stores. Another 40% will shop and do price comparisons online, but still purchase their furniture from a brick and mortar store. These numbers do vary slightly based on the age of the consumer, but this shouldn't come as much of a surprise. It was found that only 24% of Millennials, ages 18 to 35, do their shopping and buying all at brick and mortar locations, while 47% will shop online but purchase at a brick and mortar location. For Baby Boomers, ages 52 to 70, 38% will both shop and buy at brick and mortar stores, while only 36% shop online but buy from a brick and mortar store. Generation X, ages 36 to 51, falls right in the middle with 31% both shopping and buying at brick and mortar stores, while 40% will shop online but make their purchase at a brick and mortar location.
Of course this still leaves three in ten consumers purchasing their furniture online. About 12% of consumers will shop in traditional brick and mortar stores, but then purchase their furniture from an online store. While 16% of consumers will do all their shopping as well purchasing from online retailers. What is interesting is that age has no impact on how you shop for furniture that you buy online. These percentages don't change much when you break them out for Millennials, Generation X, and Baby Boomers.
Another important thing to consider about online shoppers is how they do their shopping. The biggest change comes from where they do it. In 2010 only 5% of internet users used a mobile device to do their shopping, this number has steadily risen and in 2015 over half of online shoppers are using mobile devices. Then there is how they do their shopping. It was found that eight in ten internet users will use the internet to compare prices before they make their purchase. Finally, there are the sites that internet users visit when doing their online shopping. 56% of shoppers will visit online-only retailers, 51% of shoppers will visit stores that also have a brick and mortar counterpart, 35% will visit the manufacturer's site, 16% will use deal comparison sites such as Google Shopping, while only 10% will visit social media sites.
It is important as a furniture manufacturer that your furniture is available both at brick and mortar and online stores, and with over a third of internet users visiting manufacturer sites, you too need a strong online presence. This can be difficult to do if you are too busy making collection calls and have all of your money tied up in receivables. Let DSA Factors help, we have been factoring for the furniture industry for 30 years. Give us a call today at 773-248-9000 and if you'll be at the Las Vegas Market keep a look out for Ben as he will be visiting the market and will be able to answer questions you may have about our accounts receivable factoring program.