Every year 1 in 2 Australians buy furniture or homewares. An overwhelming majority of them – 93 per cent – read newspaper media each month, making it a powerful advertising platform for retailers, writes BRIAN ROCK.
7.8 million furniture and homeware buyers read newspaper media
Newspaper media readers buy more often than non-readers
Readers spend more than non-readers
Furniture sales in Australia are booming, with October sales up 16.6 per cent on October 2014, according to Inside Retail Australia.1
Online furniture retailing is growing rapidly, with IBISWorld reporting 19.7 per cent annual growth over the past five years.
Latest emma data indicates a competitive marketplace with little loyalty from shoppers.
Some 70 per cent of Freedom Furniture customers also bought from a competitor store in the past year, as did 73 per cent of Domayne customers and 78 per of Snooze customers.
Furniture retailers who want their share of these buyers have good reasons to turn to newspaper media.
A buyer-rich environment.
Newspaper media delivers large numbers of furniture and homewares buyers.
Of the 8.4 million consumers who bought furniture or homewares in the past 12 months, 7.8 million read newspapers in print or online. That’s 93 per cent of the market.
Readers are better prospects than non-readers.
They are 12 per cent more likely to be spending on furniture or homewares in the next 12 months than non-readers. They’re also bigger spenders on home décor, with the average reader spending 14 per cent more on furniture than non-readers, and 33 per cent more on homewares.
Most readers consider newspapers more useful than online advertising or social media when deciding on furniture and homeware purchases.
Some 28 per cent of newspaper readers consider newspapers useful, compared with 18 per cent for online advertising, and 12 per cent for social media.
The right combination
The most effective way of reaching these buyers is advertising in both print and digital newsmedia.
Over a four week period 2.7 million furniture/homeware buyers only read print newspapers, 1.6 million only read digital newsmedia, while 3.3 million read both.
The optimal mix of print and digital varies from by brand. For example emma data shows that print newspaper media readers are more likely to shop at Harvey Norman than digital readers, while the opposite is true for IKEA.
Furniture retailers can reach big spenders with online newspapers. The 20 per cent who spend the most on furniture are 5 per cent more likely to read digital formats, and 21 per cent more likely to read on mobiles.
Online retailers do particularly well with digital newspaper media. Digital readers are 21 per cent more likely to buy furniture online than the average Australian, while mobile readers 36 per cent more likely.
A gloss finish
A recent study commissioned by The Newspaper Works shows that furniture retailers who invest in direct marketing can increase campaign performance by inserting catalogues in print newspapers.
According to the study, some 60 per cent of shoppers recall seeing a catalogue or brochure inserted in a newspaper.
Of these shoppers, 44 per cent recalled that this catalogue or brochure was for a furniture retailer.
For more information on this study, click here.