Technologies that drive revenue in the furniture industry
By now, any successful business owner has recognized that change is inevitable and taken the necessary steps to adapt to those changes, to stay competitive, relevant, and even to continue to drive revenue.
The last decade of changes in customer expectations and shopping habits correlated to some of the major changes that businesses in all industries have had to contend with.
Technology has drastically changed the way many companies do business today, as well as how many consumers’ shop. Significant increases in the number of successful e-commerce shops and overall furniture industry growth have happened with the technologies advancing. These technologies serve multiple purposes – some of them provide a solution to the consumer pain point of being able to physically see and touch product in person, while others better enable customers to visualize a piece of furniture in their own home which is something that can’t necessarily always be one in a brick-and-mortar setting.
Regardless of what each technology trend in the furniture industry is designed to achieve, they all serve a primary purpose, which is to drive revenue and enable growth in a highly competitive marketplace of the furniture industry.
These are the 6 technologies that drive revenue
- 3D visualization & product digitalization
- Product configurators
- WebAR (augmented reality)
- BIM objects & Revit families
- CAD packages
3D visualization & product digitalization
The move from once-popular traditional analog marketing to a digital method is not without difficulties. Today’s advancements in product digitalization have enabled a complete digital transformation for many brands in the industry, which seemed impossible to many several years ago.
The said product digitalization solves a problem reoccurring for many furniture brands – too much product data without an efficient method for managing it. Time wasted fulfilling information requests and providing data to suppliers or partners with an inefficient system causes loss of productivity while also delaying other important projects.
Product digitalization can for sure be dramatic, but it is also worthwhile because it provides you with data that can easily be shared across multiple platforms and media types, among production, sales, and business partners. A 3D model can be used for placement in all kinds of marketing assets, like styled environments or a video for social media because of how easy it is to give a new surface, color, or texture.
Cost-effective visualization services are also an ideal means of showcasing forthcoming products to marketers, clients, and partners. High-quality 3D visualizations give several benefits:
Decrease time to market
Make marketing materials more cost-effective
Enables to showcase a furniture product in all colors, shapes, and styles
ImageScripting is the solution for customers that would rather see and touch the product in person. One of the primary technology trends that are successfully driving online revenue when it comes to the furniture industry.
The technology can be used to produce photorealistic images of each product that enables it to be showcased online in detail. A consumer can zoom in and out without any loss of clarity or quality, see each piece in a multitude of colors and styles or rotate images at any angle. Portions of the image can even be dissolved to reveal hidden components and features.
It is a much more cost-effective alternative to traditional 360 photography.
Once again, a critical component of success, present, and future, is the ability to deliver an outstanding customer experience. Take the next step towards your own digital transformation to maintain your edge and capture a larger share of the target market in an already oversaturated marketplace.
Product configuration tools offer a way to both provide the customer with a positive experience and stand out from your competitors. That way you can present your full catalog of products, models, colors, and textures in a fun, and engaging way. It enables the customers to interact with products, encouraging them to continue along on their customer journey, and lading them ultimately to choose their favorite product and complete the purchase
This advanced form of visual communication will help you meet and exceed consumer expectations and eventually lead to furniture industry growth and revenue.
When used in the furniture industry augmented reality will help you solve two important problems – effectively communicating the worth and utility of a complicated and expensive product in B2B and getting your products to market in time.
It is also a unique sales tool that will allow a customer to easily visualize how would a product fit in their own home. Digital models of your products can be placed within real environments using AR technology.
BIM or building information modeling, the sophisticated technology is specially designed to enable you to complete projects in less time, with minimal or no flaws, and in a more cost-effective manner.
Essentially, you are utilizing data files that have been developed with specific parameters that enhance and improve your modeling projects greatly.
Many furniture manufacturers already utilize BIM to maximize product reach and subsequently advance their position in the furniture market.
BIM can be utilized in conjunction with product digitization to better appeal to customers and to increase engagement. Regardless of the initial incentive, the ultimate outcome is the same — BIM is a technology trend in the furniture industry that will continue to gain ground along the path to digital transformation.
CAD was once a technology relegated to architects and similar fields, aiding in the development of ultra-technical digital models. Today, CAD has completely integrated with the digital realm and can be used to design amazingly creative and interactive 3D visualizations of a multitude of products.
It also offers increased value in the presentation of those products in a variety of settings, complete with visually stunning textures, enhanced lighting, and a complete range of styles.
This seemingly ancient technology paved the way for today’s digital transformation.
New technologies work and that is all there is to know. It works a helping you present your products; it works at attracting new customers; it works at propelling consumers along your customer journey map, ending their journey with the purchase and delivering a strong ROI.
Embracing and advancing these technology trends in the furniture industry will help you surpass the efforts of your competitors.