Steelcase's home office furniture revenue soars by 500%, and it may become a new growth point in performance in the future
For a long time, as the world's most well-known office furniture manufacturer, Steelcase's office chairs, desks, office storage containers and other products have always been the largest contributors to the company's revenue.
Even in the special year of 2020, the office series is still undoubtedly Steelcase's top-tier product-but this top-tier product is no longer the fastest growing department of the company's business.
The furniture mainly used for home use is now the most dazzling star in different divisions of Steelcase. According to a data released by the company a few days ago, between March 2020 and February 2021. The revenue growth rate of furniture for home use exceeded 500%-and this figure was mainly recorded through the company's online platform store.steelcase.com.
This also means that if Steelcase can lay down more offline stores and launch more single products, the company's performance in this area will be even more surprising.
"Since March last year, Steelcase's e-commerce business volume has increased sharply. The biggest difference between the e-commerce business and our business is that the buyers here are basically independent individuals, rather than the enterprise-level customers we are more familiar with. ," said Rebecca Steketee, Steelcase’s e-commerce business director.
In addition, Steelcase said that working from home was originally a method that many companies had to adopt during the epidemic, but this method did not seem to disappear after the epidemic was effectively controlled, but remained. In order to cope with this new market environment, Steelcase will start to make corresponding adjustments in research and development in the future: when designing products, the company will consider both home and office application scenarios.
"When we are conducting research and development, we will give greater consideration to the degree of adaptation of office furniture to the home space. The civilian market will be a major project that we will focus on in the future," Rebecca Steketee said in an interview. "In this year In January, Steelcase first released a series with home users as the primary user. Prior to this, all our products were primarily considered for company-level users."
"Our customer base is not static, and their needs are constantly changing. What we need to do is to provide customers with sufficiently high-quality products under constant changes."
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