The home décor market has been consistently rising over the past few years. In fact, Future Market Insights experts project that the global home décor market “will touch a value of nearly US$ 855,680 Mn in the year 2022 and grow at a robust CAGR during the [2017-2022] assessment period.” A large part of the reason for this rise is the fact that more and more people are becoming homeowners, especially in developing countries. Also, with the boom of personalization trends in every facet of consumer good markets and with oodles of design blogs/Pinterest boards catching a lot of customers’ attention, DIY and CIY décor products are really taking leaps in popularity. No longer do mass-market decoration pieces cut it for consumers, like those from retailers such as Ikea. It’s become largely about giving their home creative and unique make-overs that remain easy on the wallet.
Today’s digital print technology like on-demand, as well as the popularity of eCommerce have opened up new avenues for consumers to have access to décor styles that uniquely fit their tastes at affordable prices. Driven by the concept of personalization, consumers don’t want to stress about finding the item that matches their vision; they want to be able to custom make it. This has brought forth an incredible spread of personalized home décor items ranging from wall hangings to lamp shades, throw pillows and blankets, towels, shower curtains and more.
Wall décor, especially, has become an “it” segment within the online personalized home décor market due to the ability for customer to turn their photos or designs into artwork. This segment actually accounted for about one-third of the entire photo merchandise market at the end of 2016. Beyond posters and framed photos, people are looking to create decals, wallpapers, canvases, and more, giving their living spaces a personality that reflects their own.
Innovative photo retailers and other online stores are tapping into these exciting product categories to differentiate themselves from the surge of low-cost apps/websites that offer generic/cheaper product selections that miss a large piece of the consumer demand. The home décor market presents a unique opportunity for companies to highlight their quality, cater to a lucrative consumer demand and expand their business into a new segment.
Being an online retailer of home accent pieces presents challenges that a brick and mortar store wouldn’t have. Selling home décor is all about evoking an inviting atmosphere for customers to experience the projects and get a feel for how they’d look in their homes. When shopping online, though customers gain the comfort of making purchases from anywhere and at anytime, they lose the tangibility of the goods they are about to purchase. Often, this leads to hesitation, and ultimately, a lot of abandoned shopping carts and returned orders. That is why, as online shop owners, it’s vital to show realistic and contextual previews of your products before, during and after the shopping journey.
During product selection, customers do not want to click on a product only to realize it isn’t at all what they were hoping for, having to restart their search all over again. This can cause frustration and early abandonment. By presenting each product in different contexts and angles, you provide a clearer vision of the product and its specs. Furthermore, providing rich descriptions in addition to product images is necessary in enticing the user to move to the next step. Consumers want to know the size, shape, orientation, finish (etc.) of the product they’re about to choose; giving clear information about your merchandise helps shoppers get to what they want faster and gives them a sense of trust in your store.