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The furniture sector in Spain consolidates its online growth thanks to digital financing solutions

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The rise of electronic commerce in recent years has had a wide impact on many of the economic sectors in Spain, with furniture being one of the most prominent. According to different analyzes and studies of the sector, around 48% of Spaniards have bought some furniture online. This figure, although it is below the European average (60%), denotes the strong digitization that has been seen in the sector. Where now, 1 in 4 furniture is sold through digital platforms. This situation has begun to pose a new future within this home decoration industry.

Financed payments are the basis for the growth of the furniture sector in the digital landscape

Generally, when you are going to buy a piece of furniture, you have a limited and defined budget for it. Since they are purchases that occur at very specific times such as moving, home renovations, etc. Thus, the average annual ticket for this sector is around 530 eurostaking into account that the average expenditure in physical stores is 514 eurosa cost quite close to the annual average.

On the other hand, the average spending on online platforms barely exceeds half, reaching an estimated €275. This shows a clear deficit in the online market, which although it is preferred by a large part of consumers, it does not convince them. In the Nordic countries they have found a solution for this situation with the solutions of payment financingwhich has allowed them to create a stronger digital shopping ecosystem in the sector.

One of the great characteristics of today’s consumer is their demand for a faster and more efficient purchase process, which also offers them a greater benefit. Features that can be addressed with a deferred payment solution, which is a option valued by more than 90% of consumers. They also allow buyers to access better products. Since by being able to dilute the payment they are more likely to spend more and acquire better quality products. Which ends up translating into a increase in the average ticket and higher income for businesses.

Within Spain, Sabadell Consumer Finance is one of the companies that offers these deferred payment solutions with Instant Credit. And now, as a means to boost online shopping in the sector, the company has launched its new “Renew yourself” campaign. This offers a discount of €20 on their next purchase, to customers who finance their purchases or who pay in convenient installments at establishments subscribed to Instant Credit.

A step from the traditional to the digital: physical stores as showrooms for online purchases

Another factor that makes purchases in physical stores greater than those in the digital ecosystem is the shopping experience. Buying furniture is usually always linked to a shopping experience where the furniture, its textures, its size, etc. are displayed. Difficult things to perceive when shopping online. Also, there is a kind of tradition surrounding this purchasing process, since the consumers often visit stores on weekends, looking for inspiration in them for the decoration of your home.

Even so, the evolution of the sector and of customers suggests a future in which stores become showrooms. In this way, customers can interact with the products and then make the purchase from home. Something that is closer to the preferences of these, because according to studies, most furniture purchases are made on Sundays between 9 pm and 10 pm. So, one 24 hour availabilitylike those offered by online stores, would be a great benefit for both customers and sellers.

Similarly, there are various aspects of the digital ecosystem that can help boost these sales, such as the optimization of catalogs and descriptions. Since this ensures a better display of the product, even if you are buying from the web. Also important is the logistics optimizationsince fast and efficient management leads to a better shopping experience.

Image: Depositphotos

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