In their 2024 Global Ecommerce Report, BigCommerce delves into the performance of home, garden, and furniture brands. Despite economic challenges and shifting consumer behaviors, these businesses demonstrated resilience. Key takeaways include:
- Global Gross Merchandise Value (GMV) grew by 3.25% year over year (YoY).
- The number of orders placed in 2023 decreased by 4.3% compared to the previous year.
- Global Average Order Value (AOV) increased by 7.89%, reflecting merchants’ price adjustments due to rising costs.
- AMER (North, Central, and South America) and EMEA (Europe, Middle East, and Africa) regions showed similar outcomes.
- Home and garden customers in AMER experienced a 4.84% drop in YoY orders, demonstrating the impact economic factors had on consumer shopping. However, the region’s YoY AOV grew by 6.46%, allowing it to come out on top — as shown by its 1.73% uptick in GMV
- EMEA followed suit with a 6.72% decrease in YoY orders. However, its 13.25% increase in AOV carried it back to a strong standing, allowing its GMV to come in at 6.21% YoY growth.
- Asia-Pacific region (APAC) saw a 9.48% YoY increase in orders. This, accompanied by its 2.91% AOV growth, allowed the region to achieve a 12.35% increase in GMV.
As a result of the pandemic ending, more consumers have returned to in-person shopping when it comes to purchasing household items. In fact, a 2022 study of more than 11,000 participants determined the majority of consumers prefer shopping in person for home decor, furniture, and garden products.
However, a mix of in-person and online shopping came in at a close second, demonstrating how important it is for businesses to create a frictionless shopping experience for consumers.
We don’t see the popularity of omnichannel shopping going anywhere in 2024 — especially as consumers continue to settle into post-pandemic behaviors that balance in-person and digital shopping.
By creating a unified omnichannel shopping experience, brands and retailers can seamlessly cater to any type of shopper, and increase overall sales and conversions.
– Annie Laukaitis, BigCommerce
UK Home, Garden and Furniture outlook
Looking back at 2023 performance data, it’s clear BigCommerce home and garden customers put in a valiant effort to stay strong throughout economic hurdles and shifting consumer behaviors. This is evident in the global gross merchandise value (GMV) data — which came in at 3.25% YoY growth.
As we approach the Easter Bank holiday – one the biggest times for Brits to focus on updating their home and garden, from furnishings to DIY, he’s some trends BigCommerce expect to see across the space:
- Taking a unified, omnichannel approach to create a frictionless shopping experience.
- Offering flexible payment methods to promote sales.
- Taking advantage of the latest technology.
- Building brand loyalty by promoting sustainability.
The BigCommerce platform is the tech backbone for the online stores of some of the biggest home and garden brands around the world Bensons for Beds, Sharp and Hyandai Power Products.
