Author: Annette Malave, SVP/Insights, RAB
“Ahhhh, this chair is just right.” Goldilocks knew exactly what was comfortable to her. How many of us have understood that statement whenever we looked at, sat in or laid on a piece of furniture or bedding?
As the new year approaches, consumers will be reevaluating more than their waistlines, but also where they eat, sit and sleep (hello, January white sales). People buy furniture for any number of reasons. They buy furniture because they are relocating, because a significant other moves in or just simple wear and tear. Nearly one tenth of Americans make furniture purchases in a typical month.
Who are these furniture shoppers? They are most likely to be parents and employed full-time. They are also high-ticket buying shoppers with higher likeliness of buying electronics, purchasing or leasing a vehicle and making a major improvement to their home, according to Provoke Insights, a full-service market research firm.
Although furniture is reflective of a person’s lifestyle and taste, loyalty to brands isn’t as common as may be the case with beauty or skincare products. Less than one third of consumers are loyal to a particular furniture brand, but there is good news for furniture retailers. Seventy-two percent of radio listeners are open to trying new brands of furniture, per Provoke Insights. Also, 60% of radio listeners plan to purchase furniture within the next six months. This gives retailers the opportunity to highlight the brand options within their locations, as well as online.
Radio listeners are all about the shopping experience, and when it comes to furniture, it is the Goldilocks-like experience that rules. Fifty-five percent of radio listeners visited a furniture retailer’s physical location more than nonlisteners. When radio listeners do shop online for furniture, their top five reasons are:
- Ease of purchase
- Lower prices
- Free delivery
- More inventory available
Radio listeners also have a little of Goldilocks in them. When they shop, 50% of broadcast radio listeners visit a variety of stores, according to MRI-Simmons. Retailers will want to differentiate themselves from the competition by highlighting deals, service and inventory availability both in store and online. It also wouldn’t hurt to mention the experience of looking at furniture and trying it. Finding that item that is just right makes everyone happy.
RAB members can view the entire report from Provoke Insights here.