Grey Suit Retail provided this data to FURNITURE|TODAY regarding consumers current purchasing preferences for furniture.
FURNITURE|TODAY April 9, 2012
Americans owned 1.3 billion total credit cards in 2011, according to Census Bureau data. That amounts to an average of 4.1 credit cards held per individual. The total number of cards is down 14.4% from a high of 1.5 billion in 2008.
Visa is the go-to-card, owned by 104 million people last year. It also comprises the largest share of furniture transactions, 59%, through Grey Suit Retails’ online platform of stores. Consumers placing furniture purchases with a Visa spent an average of $357.
American Express cards account for 21% of all purchases through online furniture stores powered by Grey Suit Retail. American Express has the highest approval rate among the major cards at 90%. Buyers using AmEx also spent the most, an average of $485, which is 80% more than those using a Discover card; 36% higher than a Visa; and 31% more than consumers buying furniture online with a MasterCard.
Retailers sell stuff. That’s it. That’s all they do. Grey Suit Retail is the furniture industry’s only SaaS platform that fully integrates a website, e-commerce shopping cart, email marketing, traditional marketing, blogging, analytics, and now Craigslist, in one simple yet powerful tool that gives you complete control of your online strategy. Go to greysuitretail.com to see how everything we do is designed to help you sell more stuff, keep more customers and make more money.