The COVID-19 pandemic has had a big impact on the furniture industry. With changes in consumer behavior, updated home decor trends, and manufacturing challenges, the industry has had to make adjustments to adapt. Find out more about how the furniture industry is working to curb the negative effects of the pandemic.
How COVID-19 Has Affected Furniture Manufacturers
Furniture manufacturers are facing several difficulties due to the pandemic, including an increase in the cost of shipping containers of goods. This cost has tripled during the past year. Production has also experienced delays due to changes in consumer spending, as well as practical challenges in factories. For example, social distancing has been affecting the work that goes on in furniture production lines.
Manufacturers are also having trouble finding enough skilled workers to do these jobs. In some cases, furniture and home decor items have not reached their destination in furniture stores and warehouses. In fact, over a third of these containers at some of the largest ports in the world were not shipped last month.
How Consumer Behavior Has Changed
Because restaurants and movie theaters were closed for several months, consumers spent more of their income on imported furniture and other consumer goods. This rise in spending is also fueled by more people purchasing furniture online rather than going to furniture stores. In fact, the number of consumers buying goods online increased by 12 percent during the quarantine months.
With many of these consumers being among the Gen Z and Millennial age groups, online shopping has also been changing. These consumers have high expectations in terms of convenience and cost, including transparent pricing. They also keep a close eye on interior design trends, which affects the furniture designs and styles that are in demand.
How Manufacturers Are Adapting
Manufacturers have been taking steps to minimize the impact of the pandemic on the industry. This included finding ways to reduce waste and focus more on efficiency.
Furniture manufacturers are also working on increasing their workforce to keep production lines going. Other changes include ensuring social distancing in the workplace and expanding their presence online in order to attract more customers. Furniture manufacturers are also focusing on offering more competitive pricing and getting products shipped faster.