Post-lockdown lifestyle changes and the growing popularity of eco-friendly furniture are driving the growth of the furniture market. Ready to assemble furniture is becoming increasingly popular among homeowners and renters, because of the lower costs and compact designs. In the same way, we’re seeing the rise of rental and subscription services.
A trend previously seen in the fashion sector, we’re seeing big name brands shift their strategy towards rental, particularly with the importance of sustainability and consumer interest in brands that are environmentally conscious. The furniture industry is forever changing where trends come and go in both style and substance.
What is the BOSCO™ Index?
The BOSCO™ index is a measure of how well you are exploiting your digital opportunities compared to your competitors. The index is computed 0 – 1000, with 575 being the average score for brands and retailers.
A score of 1000 would mean a domain is the only competitor in that country and category, a score of zero would mean the domain has no offering online. Using cutting edge data science, BOSCO™ pulls in third-party data for the domains to rank and compare their paid search and SEO offering and each website’s online performance.
Here’s how we scored the brands
We scored ten leading US furniture retailers for the months of June to July. Here’s how the top five ranked on the BOSCO™ Index league table. Download the league table below to see the full results.
Clearly demonstrated in their top position, Ashley HomeStore knows the value of a strong brand and trusted consumer experience. This furniture retailer is a leader in their fiend, from marketing to logistics as they design, manufacture, and deliver trend-led products to homes in the US.
Ahead of the trend, in 2019 Ashley HomeStore and their media agency Merkle, partnered with Verizon Media on an AR ad campaign, seamlessly integrating the in-store experience of shopping to mobile devices. Their new AR tool allows buyers to place 3D versions of Ashley products into their homes, showcasing a variety of home furnishings and accessories. The app also invites customers to chat with their team and designers, creating a virtual home makeover. Since launching the app, the brand has seen a 10-times return on ad spend.
Ashley HomeStore have recently added another string to their bow and entered the market with a new category, launching Ashley Baby & Kids. This product launch includes new styles, aiming to attract a broader age demographic through partnerships with popular brands such as Delta Children, Million Dollar Baby Classic, Donco and Little Seeds.
Post-shutdown, most furniture retailers are now investing in AI and AR to reach their audience at home. In the same way as Ashley HomeStore, both IKEA and Williams-Sonoma have invested in an app. IKEA Place allows consumers to virtually place true-to-scale models of IKEA furniture in their own homes, to see how it will fit and look before purchasing.
Williams-Sonoma’s app gives buyers the ability to create spaces with 3D imaging application, making it easier for customers to visualize the space they have and how the furniture would look in their home.
How does your brand stack up on the BOSCO™ Index? You can find out your BOSCO™ Index for free or to book a personalised demo to find out how our predictive analytics platform can work for you.