Furniture, from office chairs to kitchen tables, is essential to our daily lives. We seek quality and style when purchasing furniture, whether it's fo
Furniture, from office chairs to kitchen tables, is essential to our daily lives. We seek quality and style when purchasing furniture, whether it’s for business or residential use. Trends come and go, but the demand for furniture remains strong since it is used daily. With so much variety available, there’s something for everyone, regardless of taste or budget.
Wholesale furniture business
Wholesale furniture businesses use a B2B model to supply products to retailers, who sell them to consumers. These companies offer various furniture items such as tables, chairs, sofas, and beds. Wholesalers provide retailers with competitive rates and delivery services to help them meet customer demands and stay competitive.
Wholesale furniture distributors offer competitive prices for bulk orders. For instance, dressers that typically retail for $500 can be purchased in bulk for $300 apiece—providing substantial discounts for larger orders. They are committed to delivering the highest quality products in the industry at the most competitive prices.
The trend of the wholesale furniture market
With restaurants closed, vacations canceled, and general spending down, people put more of their budget into home improvements. This helped jumpstart the home furnishing industry, which saw massive growth over the last year. With more money available to buy furniture and decor, as well as an increased focus on interior design, the industry has seen sustained growth well beyond the original COVID-19 lockdown.
The industry saw a dip in demand due to the pandemic, mainly due to the decrease in new construction activities. However, the sector is still projected to grow, thanks to new demand from consumers looking to improve their living space with furniture during the lockdown. Additionally, the rise in digitalization and e-Commerce has created more purchase opportunities for consumers.
Steps to start an online wholesale furniture business
- Understanding the industry: Start by researching the furniture industry and studying the fundamentals of wholesaling. Explore the different types of furniture offered in the market and understand their associated costs to ensure you can deliver a competitive product and pricing structure. Research the local industry to understand your competition and how you can differentiate yourself. Also, develop a business plan outlining your goals and strategies, and consider getting a business license, professional advice, and insurance.
- Identifying the consumers: To reach our target audience, we will use a combination of digital and traditional advertising tactics adapted for businesses in the furniture industry. Our digital marketing efforts will focus on creating high-quality content, influencer marketing, search engine optimization (SEO), and targeted ads. Our traditional marketing efforts will include print and broadcast media, email marketing, and direct mail campaigns. We will also attend industry events and promote our business at networking events. By diversifying our efforts, we’re confident we can reach our target audience.
- Selecting various products: You could offer furniture for dining rooms, bedrooms, living rooms, children’s rooms, and office spaces. You could also specialize in a particular type of furniture, such as wood, metal, upholstery, or modern styling. You could also focus on any particular furniture style, materials, finishes, or sizes to help your customers find the perfect pieces for their homes. As a furniture wholesaler, you can customize your services to meet your client’s needs and requests. With the proper focus and services, you’ll be sure to find success.
- Sourcing your selected products: Manufacturing in-house can be complex. You must set up and operate a factory requiring more space, personnel, and potentially extra licensing and insurance. Sourcing your products from a furniture manufacturer is another option. This involves finding the right supplier to provide quality products at a reasonable price. Ultimately, how you choose to produce goods is up to your business needs and objectives.
- Creating an online store: An independent site for a storefront gives wholesalers greater control over the design and features of their store but can be more costly and time-consuming to set up and maintain. On the other hand, selling on a B2B marketplace such as Alibaba.com offers a quick and low-cost way to reach large audiences, though existing branding may not match the wholesaler’s preferences. Both options can be powerful tools for online retailers.
- Following up with the responses: Wholesalers should not consider the sale complete once they have delivered the product and have received payment. Creating a relationship with the client by providing value-added services, such as product promotions and discounts, will help to ensure their loyalty as repeat customers. This customer retention process can be well worth the short-term investment, as it helps reduce the cost of finding new ones.
Conclusion
Nowadays, buying furniture in bulk is more accessible with online shopping. Consumers benefit from being able to compare prices and access a larger variety of products, all from the comfort of their own homes. Furthermore, online shopping saves time and allows for more convenient delivery options. Furniture shopping online can allow you to explore various styles and options that fit your home space. With a licensed dealer, you can also ensure quality products while knowing you are buying from a reputable source. With some research and insight, you can find the perfect piece of furniture for your home.