Since the COVID-19 pandemic, the way businesses buy and sell, especially in the world of interiors, has changed a lot. Today, the people who buy from brands and manufacturers, like interior designers, architects, and wholesalers, are looking for more online. They want it to be easy to find the products they need, create personalized design options, gather all the necessary data quickly and have access to amazing visuals. But there's a problem: many sellers aren't ready to meet all of these digital demands. This issue is creating a big gap between what the typical B2B buyer wants and what sellers can offer.
Trade Professionals Expect More from Digital Channels
The landscape of B2B transactions has been irrevocably altered, with a discernible pivot towards digital channels. This transition is not merely a trend but a fundamental shift in preference and practice. Research by McKinsey & Co. underscores this evolution, revealing that more than three-quarters of B2B buyers now favor digital self-service and remote engagement over face-to-face interactions. For interior designers, architects, and wholesalers, who routinely juggle intricate projects with tight timelines, the allure of digital convenience, speed, and customization is undeniable.
>2/3 of B2B buyers opt for digital self-service or remote human interactions at ordering & re-ordering stages
This digital shift is propelled by necessity as much as it is by efficiency. The pandemic-era constraints illuminated the limitations of traditional sales methods, propelling buyers to seek out and expect digital solutions that offer a seamless, personalized purchasing journey. These buyers are now utilizing more channels than ever to interact with suppliers, necessitating a multi-faceted digital strategy from sellers.
Experimenting with AI: Trade Professionals Tapping into Emerging Tech
Trade professionals in the furnishing sector are beginning to explore the potential of AI tools that are still in the early stages of development. These consumer-level applications, though not yet widespread, are proving to be quite promising. They offer a glimpse into a future where creating detailed design concepts is as easy as typing a description or clicking a button. Not only do these AI tools have the potential to generate visual designs, but they can also make the process of finding and choosing the right products faster and more efficient. As these trade professionals experiment with and adopt such AI-powered tools, we're starting to see a transformation in how sourcing and design tasks are performed, opening up new and exciting possibilities for the industry as a whole.
The Furnishing Industry’s AI Dilemma
Yet, as the demand for digital engagement and personalized solutions swells, the sector finds itself at a crossroads when it comes to B2B sales in the world of interiors. The heart of the issue lies in the application and understanding—or lack thereof—of Artificial Intelligence (AI) technologies. AI promises transformative potential: the ability to generate tailored conceptual designs from brief text descriptions or to adapt room styles to individual tastes with unprecedented speed and accuracy.
34% of businesses recognise limited skills, expertise, and knowledge as a primary obstacle to adoption of AI
However, the furnishing industry grapples with significant barriers to adopting such technology. The IBM Global AI Adoption Index 2022 indicates that 34% of businesses recognize limited AI skills, expertise, and knowledge as a primary obstacle. Concurrently, a Deloitte Survey highlights that 46% of companies identify integrating AI technologies into existing systems as a formidable challenge.
These challenges are not insubstantial. They reflect a deeper systemic issue within the sector—a sector historically reliant on offline interactions and physical showcases. The transition to digital, while accelerated by the pandemic, has exposed a gap in digital literacy and infrastructure, particularly in leveraging AI to meet buyer expectations.
Fixing the Big Mismatch
This gap has resulted in a growing misalignment between how brands (manufacturers) are selling and how their primary clientele—interior designers, architects, and wholesalers—are specifying and purchasing products.
As sellers invest more in creating marketplaces for B2B buyers to purchase products directly online, it is imperative to embrace digital tools and AI that buyers would expect in the new era of technology. As trade professionals increasingly seek digital efficiency and personalized solutions, the furnishing industry is at a pivotal juncture. By ignoring the potential of AI, businesses risk being at a competitive disadvantage. However, investing in the right skills and partnerships, sellers can start to close the gap.
Call to “Sellers”: The TechStudio Pilot Program
We are excited to launch our pilot program—designed specifically for early adopters among businesses including brands, retailers and digital platforms eager to explore the cutting edge of AI as it pertains to their business. This initiative represents a unique opportunity to not only experience the benefits of AI firsthand but also to shape the future of our business.
If you would like to build with us in this space or simply would like to chat further reach out to: am@techstudio.ai