Factoids

E-commerce and the Furniture Industry Retail Trade Totals

November 23, 2018  by Laurie Northington in General   

This is the final factoid in a series of five factoids detailing the rise of e-commerce in the furniture industry. As many brick and mortar stores search for strategies to compete with giant online retailers, those same retailers are looking for ways to remain profitable.

Retail Trade Totals

Internet sales of all consumer products from all retail types of outlets, whether brick and mortar or e-commerce companies, are estimated to have reached $437.5 billion in 2017. It may be surprising to some, however, that these internet sales represent only 8.6 percent of all retail sales for all consumer products. But internet purchases continue to make major inroads into many consumer products with no sign of slowing down.

The rapid growth of furniture industry sales by successful e-commerce retailers are challenging brick and mortar stores, but traditional store fronts still offer a customer experience that an e-commerce retailer cannot. But e-commerce companies are quickly moving into areas (for example, store fronts and print catalogs) to challenge the customer experience of traditional brick and mortar retailer.

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Fast Fact: Internet Sales, 8.6% of Total Retail Sales in 2017 http://hfbusiness.com/hfbnow/ArticleID/18147/fast-fact-internet-sales-86-of-total-retail-sales-in-2017