Buying furniture is never easy. Will this armchair still be comfortable in a few months? Will that green sofa still look good in a year? Ditto that coffee table? When we buy furniture, we are signing up to live with our purchases for a while – which increases the time and effort put into our decision to buy.
Recent trends reveal increased spending in the home improvement sector as well as growth in consumer confidence to buy their furnishings online – specifically through direct-to-consumer retailers. However, most sales still take place in showrooms and stores. Because customers are buying furniture they will be seeing and using daily, they are much more involved in the buying process, and need to touch and feel the products. This makes physical points of sales the most reassuring channel for them to make a purchase.
As visitation data accuracy keeps on improving, and savvy ad-tech partners begin to guarantee measurement of offline KPIs, industry investment into drive-to-store will be led by brands looking to get ahead. And by 2023, 58% of global ad investments by Home and Furniture brands will be funneled into drive-to-store.
Adoption of drive-to-store activity in the Home and Furniture sector will grow significantly over the next few years, with an average increase of 10% worldwide. The UK’s Home and Furniture retailers are among the most willing to invest in drive-to-store advertising. Over the next four years, their spend will increase to reach an 82% share by 2023 – well above the global trend. They will be closely followed by Belgian and French retailers, who will dedicate 78% and 65% of their ad spend to drive-to-store respectively.
That said, worldwide industry adoption of drive-to-store marketing will vary drastically, and some markets will only notice a small increase in the budget allocated to it. In Italy, the US and Canada for example, this share will remain below average despite some growth, and will amount to 47%, 50% and 50% respectively.
With consumers more willing to spend in physical stores than online, it’s time for Home and Furniture retailers to make the switch to drive-to-store advertising – to streamline the customer experience and drive more customers to their stores.