Furniture e-commerce has emerged as a significant trend in the future development of the furniture industry. It addresses the challenge of limited time for modern office workers to shop, offering a convenient solution. Additionally, one of the key advantages is the price competitiveness. Many online shoppers notice that products sold online are often slightly cheaper than those in physical stores. Young people, who may not have much experience with home decoration or furniture purchasing, find it appealing to buy high-quality and affordable items online, making it a new and attractive shopping option.
However, after a wave of large-scale returns in furniture e-commerce, some refund rates exceeded 100%, raising concerns. Online furniture shopping is still in its early stages of exploration and development, and numerous issues need to be addressed urgently.
During the Double 11 shopping festival, Quanyou Home Furnishing's official flagship store on Tmall became the top-selling furniture brand, with sales reaching 100 million yuan. However, a month later, media reports revealed that Quanyou’s return rate was 34.68%, totaling 13,331 returns, with 11,679 of them due to "not received." Qumei had a return rate of 5.77%, with 500 returns, and 25 of those were also due to "not received." Gujia Household had a return rate of 5.23%, with 888 returns, and 21 of those were also attributed to "not received."
From these figures, it is clear that "not received" has become the primary reason for returns. Why is this happening? One reason is that during the Double 11 period, many consumers placed large orders and paid deposits to secure discounts. In the following month, they confirmed details such as size and fabric, and customer service verified shipping addresses. As a result, some consumers applied for refunds due to issues like size, logistics, or delivery time.
The rise of furniture e-commerce is also driving a battle between old and new business models. Jack Ma believes that e-commerce signals China's economic transformation, representing a new marketing model of the digital economy that challenges traditional retail. Has this battle truly begun?
Jiang Qiping, Secretary General of the Information Research Center at the Chinese Academy of Social Sciences, noted that November 11 has become a major transaction day in China. Last year, Tmall processed over 936 million transactions, exceeding the daily retail value of Hong Kong. This event significantly stimulates domestic demand and creates new market opportunities.
According to statistics, since 2007, China's total retail sales of consumer goods have maintained an annual growth rate of over 16%, while the compound growth rate of online shopping transactions reached 77%. Physical department stores are facing increasing difficulties.
As consumer enthusiasm gradually fades, online furniture shopping has come under scrutiny. Long production cycles, slow delivery speeds, and challenges in distribution and installation have become the biggest hurdles for online furniture sales.
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