How Can Furniture Stores Use Digital Marketing to Win in 2020?
Given the changes in privacy and sunsetting of cookies thanks to GDPR and more recently, CCPA, retailers are looking at the most effective ways to target. The second thing to consider is the changing expectations of buyers in the marketplace as Millennials and Gen Z are taking a more prominent place as furniture consumers. Social media and AR/VR functionality are becoming the norm rather than the exception in furniture sales.
What Do I Need To Consider When it Comes to Privacy?
Privacy Will Limit Your Options (But don’t be scared).
While contextual targeting is the way forward in a world after cookies, Google is putting some limits on this method. Chetna Bindra at Google says that “[as of] February 2020 we will no longer include contextual content categories in the bid requests we send to buyers participating in our auction.”
Google is doing this to “help avoid the risk that any participant in our auctions is able to associate individual ad identifiers with Google’s contextual content categories.”
That being said, the implementation of tighter privacy parameters hasn’t slowed ad spend OR ad revenue:
“After the GDPR came into effect, ad spending and ad revenue rose higher instead of dropping like a stone. A year and a half later, spend in Europe is up 33%. If GDPR is the canary in the coal mine for CCPA, the arguments that the advertising industry will take a major hit are unfounded.” – Dan Linton, global data privacy officer at W2O Group.
How Are Consumer Preferences Driving Demand For Online Furniture Shopping?
People want to buy your products online:
It’s not just Millennials – as Gen Z is coming of age and moving out on their own, more and more are turning to online shopping options for items like home furnishings.
Suffice to say, these younger generations don’t shop in-store quite as much as their Gen X and Baby Boomer elders. Despite the spike in online sales, there are some young brands like Casper (started in 2014) who connect the dots between ecommerce and brick-and-mortar sales with their showrooms popping up with over 2000 locations in the U.S.
This expectation comes with its own challenges in regard to logistics and scalability — are you equipped to handle the volume of demand, inventory, shipping and customer service needs that come with a D2C ecommerce offering?
How Are Social Channels Are Taking Precedent And Driving Revenue?
As online sales continue to grow in the home furnishings space, companies like Burrow, Wayfair and Ikea are investing heavily in social channels — namely Pinterest, Facebook and Instagram. Pinterest actually published a case study on Wayfair recently detailing some of their successes.
How are other brands using AR/VR?
Using VR/AR to visualize products in the home furnishings market is on the rise. Ikea has integrated both AR and VR into its digital strategy. Companies like Lowes and The Home Depot are also adopting this functionality.
If you’re looking for some help with your digital strategy, let me know if you have some specific questions. I’d love to know more about what’s going on in your business and whether these tactics have been useful to your brand.