STORIS has puiblished its 2023 Home Furnishings Industry Trend Guide, which dives into Market Factors Impacting Retail, the State of the Home Furnishings Industry, and identifies 10 Key Technology Trends to guide digital transformation.
The company also provides strategies for success throughout the guide and once again share all-new, first-party data from a survey of STORIS’ leading home furnishing retail network.
Here are a few key takeaways:
- 47% of retailers believe inflation and competition for discretionary spending will remain their biggest challenge in 2023.
- Most retailers surveyed (53%) say they’re considering more proactive customer outreach as the top strategy to handle a potentially softer economy in 2023
- 70% of retailers surveyed are not opening new brick & mortar showrooms in 2023, therefore, growth in your current market is critical.
- 21% of retailers believe the housing market will be the greatest challenge this year.
To read the full report, visit https://www.storis.com/2023-home-furnishings-retail-industry-trend-guide/
