Furniture retail is a business that sells furniture and related items to consumers. On Black Friday 2023, it is booming as consumers look for great deals online and competitive prices from retailers. This blog post will explain why furniture retail is at its peak on Black Friday 2023 and how you can find your dream furniture.
How consumer demand for furniture has increased in 2023
One of the main drivers of furniture retail on Black Friday 2023 is the increased consumer demand for furniture. Several factors contribute to this trend, such as the shift to smaller and more flexible living spaces and furniture, the influence of social media and influencers on furniture trends and styles, and the role of environmental awareness and sustainability in furniture choices. According to Statista, the furniture retail industry is expected to grow at a compound annual growth rate of 4.5% from 2020 to 2025, reaching a market value of over 850 billion U.S. dollars by 2026, driven by these factors.
The shift to smaller and more flexible living spaces and furniture
Many consumers choose smaller and more flexible living spaces because of housing issues. They need furniture that can fit, adapt, and maximize these spaces. For example, some consumers want furniture that can do more than one thing, such as sofa beds or storage ottomans. Others want furniture that can be easily moved or folded, such as modular sofas or folding chairs.
The influence of social media and influencers on furniture trends and styles
Consumers use social media platforms, such as Instagram or TikTok, to get ideas and information about furniture and interior design. They can follow influencers, celebrities, or experts who show their furniture choices, styles, tips, and reviews. They can also see many images and videos of different furniture and décor ideas. This can affect their preferences and decisions when they buy furniture online or offline.
The role of environmental awareness and sustainability in furniture choices
Consumer demand for furniture is also affected by the environment and sustainability. Many consumers care about the environmental impact of their furniture purchases, such as the materials, the production, the emissions, and the disposal. They want to reduce their environmental footprint by choosing furniture
- that is natural, renewable, recycled, or reclaimed;
- that lasts long and is durable;
- that can be repaired or reused;
- or that can be donated or recycled.
How online shopping has made furniture retail more convenient and accessible on Black Friday 2023
The advantages of online shopping for furniture compared to in-store shopping
Another reason why furniture retail is at its peak on Black Friday 2023 is the convenience and accessibility of online shopping. Online shopping has many advantages over in-store shopping when it comes to buying furniture, such as:
- Browsing through more products from different options and finding the best deals online.
- Shopping anytime and anywhere from home or devices and using various tools and features to improve the shopping experience.
- Enjoying free shipping, delivery, installation, or returns from many online retailers.
The challenges of online shopping for furniture and how to overcome them
However, online shopping also has some challenges when it comes to buying furniture, such as:
- Not seeing, touching, feeling, or testing the furniture in person before buying it online.
- Having trouble measuring and fitting the furniture in their spaces or assembling or installing it themselves.
- Facing scams, frauds, or poor customer service from some online retailers or hidden fees, charges, or taxes.
To overcome these challenges, online shoppers should follow some tips and tricks, such as:
- Reading the product details, reviews, and ratings carefully before buying online.
- Measuring their spaces and furniture accurately and using online tools to visualize them.
- Choosing reputable and reliable online retailers and platforms to shop from.
The best online platforms and websites to shop for furniture on Black Friday 2023
Many online platforms and websites offer furniture deals on Black Friday 2023, but some of the best ones are:
- Amazon: A large and popular online retailer that offers a wide range of furniture from hundreds of brands. Amazon has free shipping for Prime members, fast delivery, easy returns, and customer service.
- Wayfair: A leading online retailer of furniture and home goods that offers over 18 million products from thousands of suppliers. Wayfair has furniture for every room, style, budget, and occasion. Wayfair has free shipping on orders over $35, easy returns, installation services, and customer service.
- Ashley Furniture: A large and successful furniture manufacturer and retailer that offers stylish, quality, and affordable furniture for every taste and need. Ashley Furniture has furniture for living room, bedroom, dining room, home office, outdoor, and more. Ashley Furniture has free shipping on many items, delivery options, financing plans, and customer service.
How competitive pricing has made furniture retail more affordable and attractive on Black Friday 2023
The factors that affect the pricing of furniture items
Another reason why furniture retail is at its peak on Black Friday 2023 is the competitive pricing that makes furniture more affordable and attractive for consumers. Several factors affect the pricing of furniture items, such as:
- The materials used to make the furniture. The materials used to make the furniture can vary in quality, durability, sustainability, and cost. For example, wooden furniture can be more expensive than metal or plastic furniture, but it can also be more durable and eco-friendly.
- The design and style of the furniture. The design and style of the furniture can reflect the trends, preferences, and tastes of consumers. For example, contemporary furniture can be more expensive than traditional furniture, but it can also be more appealing and functional for modern lifestyles.
- The brand and reputation of the furniture retailer or manufacturer. The brand and reputation of the furniture retailer or manufacturer can influence the perceived value and quality of the furniture. For example, name-brand furniture can be more expensive than generic or unknown furniture, but it can also offer more trustworthiness and reliability for consumers.
The strategies that furniture retailers use to offer competitive pricing on Black Friday 2023
Furniture retailers use various strategies to offer competitive pricing on Black Friday 2023, such as:
- Offering discounts and deals on selected items or categories. Furniture retailers may offer discounts and deals on certain items or categories that are popular, in-demand, or overstocked. For example, they may offer a percentage off, a dollar amount off, a buy-one-get-one-free deal, or a bundle deal on some of their products.
- Offering coupons and promo codes for online or in-store purchases. Furniture retailers may offer coupons and promo codes that consumers can use to get extra savings on their online or in-store purchases. For example, they may offer a coupon code that gives a certain amount off on a minimum purchase amount or a promo code that gives free shipping or delivery on any order.
- Offering loyalty programs or rewards for repeat customers. Furniture retailers may offer loyalty programs or rewards that consumers can join or earn to get benefits or perks on their future purchases. For example, they may offer a loyalty card that gives points or cash back for every dollar spent, or a reward program that gives exclusive access to sales, events, or gifts for loyal customers.
The tips and tricks for finding the best furniture deals on Black Friday 2023
Finding the best furniture deals on Black Friday 2023 can be challenging, but not impossible. Here are some tips and tricks to help you score the best bargains:
- Do your research before you shop. Compare prices and reviews of different furniture items and retailers online before you make your purchase. You can use tools like Google Shopping, PriceGrabber, or Shopzilla to find the best deals and discounts.
- Shop early and shop smart. The best furniture deals may sell out quickly, so it’s better to shop early and avoid the last-minute rush. You can also sign up for email alerts or newsletters from your favorite furniture retailers to get notified of their latest offers and promotions.
- Use cashback apps or websites. Cashback apps or websites can help you save money by giving you a percentage of your purchase back in cash or gift cards. Some of the popular cashback apps or websites are Rakuten, Ibotta, Swagbucks, and TopCashback.
Buy furniture at low prices and transform your living spaces on Black Friday 2023. Find amazing deals and offers from various furniture retail businesses online and offline for your bedroom, living room, dining room, home office, or outdoor area. Better yet, we can help you optimize your sales and inventory management with our point-of-sale solutions for furniture retailers. Contact us today. Get a free demo of our software now!