Product data is at the center of many difficulties (and opportunities). Unfortunately, outdated data management systems frequently get in the way, and furniture sellers will face a huge loss.
You don’t want that, right? Implementing the right PIM for furniture can help you out with this.
This blog is helpful for furniture retailers who want to grow in the market and leave behind their competitors; give on a read to gain more information.
If you want to know more about how you can manage your furniture business and grow seamlessly, head on to our other blog about furniture marketing strategies that can help you sell your furniture the right way.
Future of Furniture and PIM
Do you know that during the forecast period, the furniture market is likely to increase by $122.32 mn, growing at a CAGR of 4.01%? 1
Like many other businesses, the furniture industry had many chaotic years. However, customers’ demand for furniture products may be higher than ever.
Interestingly, over $113 billion in industrial growth is predicted by experts by 2024, which means the future of furniture is bright. Besides these analytics, we have left the year 2022, and it has come to a conclusion.
Regardless of how you feel about it, it was one of the years that brought about a lot of developments that will influence future market patterns across the furniture industries.
Also, using PIM for furniture is playing a huge role in the success of the furniture industry.
Difficulties in Furniture Selling
Furniture sales increased as more people preferred to purchase online due to the pandemic period.
As customers return to the store, the sector now faces additional difficulties;
- Satisfying the desire for internet commerce.
- Delivering a unified experience across all channels
- Enhancing supply chain efficiency in the face of emerging challenges
Top Challenges Sellers face in the management of Furniture business
After researching this topic, I have gathered a few common issues that furniture sellers may face as they move towards a more digital and data-driven industry.
The top two furniture challenges are;
- Legacy process and systems
- Configurable Products
1. Legacy process and systems
Have you ever thought about why furniture companies need help adopting ecommerce? A lack of process and technology, not a lack of desire, is the reason that prevents new sales channels from being successful.
Furniture companies that started as brick-and-mortarWhat are Brick and Mortar? Brick and Mortar is a business with at least one physical store for the sale of its storefront. Hence it is... More stores were developed for purposes other than online sales. They may face trouble managing data due to their outdated technologies.
Because handling data has never been their top priority, their internal procedures must be set up for the quick, accurate transfer of product data to downstream systems.
When your legacy system is outdated, this can result in slow processing times and increased errors. 2
Using PIM for furniture can help furniture companies overcome legacy process and systems challenges by providing a centralized and unified view of product information, automating processes, and enabling data-driven decision-making.
Manage and share product data across the organization efficiently
Sign up now to achieve seamless product data management with our Apimio PIM
2. Configurable products
Customers today demand furniture that fits in a particular area and blends in with the current colors and styles. Furniture businesses can fill this desire by providing changeable (or “configurable”) items.
After choosing a base product, customers can choose from a variety of options, including colors, fabrics, weights, measurements, etc.
Configurable products can make it difficult to produce the products as the production process may need to change depending on the configuration.
Fortunately, PIM and data management procedures may support furniture manufacturers in adjusting to new channels and expectations.
These challenges can make it difficult for furniture companies to stay competitive and adapt to new market conditions.
Upgrading to newer, more efficient systems, such as using PIM for furniture, can help overcome these challenges and position companies for future growth.
Ways in which PIM helps furniture businesses bloom
As we all know, Furniture companies can notice gains in a variety of areas by obtaining a better handle on their product data.
Here are some ways in which PIM helps you thrive in your furniture business;
- Faster time to market
- Transforming to digital
- Improved high-quality data
- Lower costs
1. Faster time to market
As furniture sellers use internet platforms, they must figure out how to quickly introduce new products.
By addressing the data bottlenecks and inaccuracies affecting production times and supply chain efficiency, PIM helps businesses to work efficiently.
PIM systems can help you more accurately manage and share your product data, leading to a faster time to market by streamlining workflows, reducing errors, improving communication, and automating data distribution. 3
2. Transforming to digital
PIM helps furniture companies accelerate their digital ambitions in addition to operational benefits. Reaching customers online requires credible, appealing product material.
Customers will look somewhere else if they can’t find the desired product information on your product site.
Furniture purchasers also want to know how the item feels and looks in real life. Digital assets such as 360-degree photos, movies, design files, product displays, PDF instructions, and more are necessary for that.
Businesses can provide this enriched content reliably across web, mobile, catalog, and in-store channels with the help of PIM and Digital Asset Management (DAM).
PIM systems play a crucial role in the digital transformation of furniture companies by allowing them to manage and share product data across the organization efficiently.
It also helps to improve the accuracy and consistency of product data, which can lead to better customer experience and increased sales.
Maximize your furniture marketing potential with Apimio PIM
Schedule a demo call with our sales team today and take further steps toward improving your furniture marketing.
3. Improved High-Quality Data
Businesses in the furniture industry can guarantee correct and full data throughout the market by establishing a culture of data management and utilizing tools like PIM and data governance processes.
All company levels, from the store to the executive team, may make better business decisions using high-quality data.
Additionally, accurate, reliable data increases customer satisfaction and enables businesses to offer solutions that can be customized and configured. 4
4. Lower Costs
Many businesses aim to save costs while undertaking a data management project. This typically takes place along the supply chain.
Furniture businesses can lower shipment errors that cost them time and money by using exact weight and measurement data. Also, product returns are reduced by giving customers accurate, comprehensive data.
PIM systems help furniture companies lower costs by streamlining and automating product data management tasks, improving the quality of product information, and optimizing operations through advanced analytics and reporting capabilities.
Create an environment for Well-Managed data
Although it is difficult to leave behind traditional business practices, the contemporary furniture market requires it.
Data management can no longer be neglected because customers now shop through many channels.
Furniture businesses need to:
- Think about implementing the appropriate PIM and DAM platforms.
- Verify the quality of the data, examine the current processes, and decide where to add or modify.
- Find the appropriate expertise the company requires, such as in integrations, syndication, data governance, hierarchies, etc.
- Adopt a culture of data management with training that enables every team to benefit from PIM.
Overall, creating an environment for well-managed data involves establishing clear governance and data management etiquettes, using a flexible and adaptable data model, and having a clear data strategy that is aligned with overall business objectives.
PIM systems help to create such an environment by centralizing and standardizing product data, making it easy to access and share across the organization.
Conclusion
Furniture of the future will likely be shaped by several trends, including the increasing use of technology, the growing popularity of sustainable materials, and the continued evolution of design.
Using PIM for furniture will help furniture retailers and manufacturers manage and organize their product data. So, furniture of the future and PIM together look bright and full of opportunities.
Need help while choosing the right PIM? You are on the right platform; Apimio PIM will help you by centralizing and streamlining your product information regarding furniture.
By implementing Apimio PIM, furniture businesses can increase sales and customer satisfaction while achieving their business goals.
What to do next?
- Also, Read our blog on Furniture Marketing Strategies to stay on top.
- Know more about How you can market your furniture. Head on to “Furniture Marketing: 6 Proven Ideas for Boosting Sales”.
- Create an account now and let’s get started. You can book a call now.
- Contact our support if you have any questions or issues, or comment your thoughts in the comment section.
Frequently Asked Questions
PIM systems will be used to centralize and standardize product information, making sharing with customers and other stakeholders easier, and to track a product’s lifecycle, from design to disposal.
The future of furniture and PIM may bring more functional, sustainable, and innovative products to the market and more efficient and organized data management for retailers and manufacturers.
- Furniture Market/https://www.researchandmarkets.com/reports/5146992/global-furniture-market-2022-2026?utm_source=BW&utm_medium=PressRelease&utm_code=mw55hn&utm_campaign=1445804+-+Worldwide+Furniture+Industry+to+2024+-+Key+Drivers%2c+Trends+and+Challenges&utm_exec=jamu273prd[↩]
- Legacy Systems:https://itnoesis.com/2022/03/02/legacy-systems-the-good-the-bad-and-new-opportunities/[↩]
- Faster time to market/https://www.digitaldoughnut.com/articles/2019/june/5-ways-pim-ensures-faster-time-to-market[↩]
- Product data quality/https://apimio.com/pim-increase-product-data-quality-for-online-store/[↩]
