The Furniture Sector in 2021: Economic Prediction.

Last year was, in general, a nightmare for the economy in general. Few industries saw a direct benefit as a result of the pandemic. What's more, all businesses had to adapt to the new economic scenario. Such was, and continues to be, the scenario that only companies that offer an innovative image to differentiate themselves from the competition are managing to grow.

An International View of the Furniture Sector

If we look to the left of the pond, in the US market, there was a depression of 8% in the second quarter. But by the third quarter he recovered it again and in the Last quarter it grew to 15%. The companies that grew the most were those that opted for an innovative image to differentiate themselves from the competition by optimizing their online sales channel.

If we look at our inner circle, we see that the predictions for 2021 are more optimistic for the EU. In 2020, The furniture sector generated $584,970.33 mill. In 2021, the figure is expected to reach $633806.14 mill, which means a increase of 8,35%.

At the national level, we see that Spain represents just over 1% of total consumption of the furniture market in 2019. In 2020, thanks to the companies that opted to innovate their image, the market grew to 30%.

The Why of an Innovative Image to Differentiate from the Competition.

In 2020, as a direct consequence of the confinement imposed by the authorities, online shopping “roared” strongly. It doubled the number of users who were using it for the first time (3.6%). The number may not inspire much, BUT a average cart of €68 and a frequency of 3.5/month change the point of view.

We know that 70% of the population that buys online is between 16 and 70 years old. The most intense when it comes to buying are between 35-44 years old. Women buy more driven by social networks than men, 49% and 51% respectively.

RoomBox: Innovative image.

To innovate, you have to rely on new tools. RoomBox is a platform that allows users to consider, imagine and rediscover their home. With RoomBox, customers can rebuild their home online, easily and simply, from the comfort of the sofa. Designers and decorators can offer their clients and potential clients their entire product catalog. And most importantly, all of this safely and giving the best customer experience.

96% of respondents say they choose online shopping for convenience, 95% for variety, 91% for price, and 81% for a good experience. And from what we have been highlighting in our previous posts, customer experience is a great way to innovate.

What will be the result of this prediction? None. We neither champion an optimistic scenario, nor do we support a conservative position. Expectations are good and with upward trends. But only the future will support these predictions.

Verdict

So what do we know with a high degree of certainty?

We know that market leaders always look for an innovative image to differentiate themselves from the competition. They incorporate tools such as RoomBox for an image of strength and closeness to the client. Betting on differentiation in these times makes the difference between fighting to survive and being a leader in the sector.

If you want to know how Roombox can help your business, click the button.

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