Having clear insights and information you can rely upon to make good decisions or take effective action is essential in any aspect of life. Whether you’re following your maps app to visit a new supplier or researching the possible benefits of attending a particular trade show, good information helps make the decision itself easier – and increases the likelihood of it being the right decision, too.
As any experienced retailer will confirm, business success is a mixture of art and science.
Intuition and instinct are invaluable. You’ve got to have a nose for opportunities, an eye for the right products and a general feel for business.
That’s the art, and it will get you so far.
But only so far.
However, with the right amount of science to back it up – and, in some cases, challenge your thinking – you can chart a clear, confident path to growth.
The importance of good data
Almost every business has data, and that data often comes from multiple sources – which can create issues, given the often interdependent relationship of some factors.
In furniture retail, for example, different products may sell better in different areas, certain demographics may spend more at certain times of the year, and unless you know those micro trends and data – and can drill down with laser focus – decisions can veer too much into the ‘intuition’ space.
The challenge, of course, is interpreting that data in a way that gives you confidence and certainty – pulling the data into something meaningful.
Overcoming that challenge is essential.
A 2025 report from KPMG showed nearly half of US executives believe that leveraging data and analytics has significantly improved their profitability and performance over the past two years, while 61% of executives said they are seeking to improve the quality of data to better inform transformation initiatives over the next one to three years.
Research from Forbes, meanwhile, shows that poor-quality data can cost businesses millions annually, while high-quality data enables better strategic decisions, operational efficiency and customer personalisation, which are essential for growth.
“Having strong data is essential for businesses to grow, and many businesses have information flowing in – the challenge is to turn that data into meaningful insights,” says Alistair Wright, Product Director at Swan Retail.
“Because that’s when that data becomes truly useful.”
Building a data-rich business
For furniture stores, two key areas of data are needed to drive meaningful insights that can spur growth – one is sales data, the other is customer data.
An integrated ecommerce solution is essential to this. An integrated ecommerce platform will bring sales data from multiple sites – including online – together, enabling you to identify sales trends, opportunities and differences between locations.
“Knowing what is selling, where and when, and being able to see that instantly on one dashboard is vitally important for making important decisions about the future,” says Alistair.
“The granular insights you can get from this consolidated data can enable small changes and micro-decisions that ultimately have a big impact. They can also inform longer-term decisions on suppliers, products, margins and even expansion locations.”
The second key area of data for furniture retailers to focus on is customers. By understanding demographic patterns and purchases – and overlaying that information with sales and location data – you can make ever-more informed and strategic decisions to capitalise on the opportunities that lie ahead.
“Central to this is a complete retail tech solution, such as Swan’s platforms for furniture and homeware stores, that can keep businesses fuelled with data – as well as streamlining the day-to-day – in order to run more efficiently, ultimately enjoy successful, strategic growth.”
For more insights into some of the key challenges furniture retailers are facing at present – as well as how you can overcome them – download our ebook today.
