The Average Price of 'Office Furniture & Lighting' is Shifting
The 'Office Furniture & Lighting' category has shifted, with 'Average Price' changing by 47.4%.
Production Lead: Eric Jackson
Editor:
Sam Bernards
Published July, 2022
Why is the Average Price evolving?
Price is one of the most critical components of a consumer's decision to purchase within the E-commerce channel. The recent change from $46.53 to $68.58, a change of 47.4%, is a flag that the category is moving towards higher, more mature and customer-supported price points.
Is this an opportune moment for the underdogs?
At least one material, leading product is now no longer available to consumers. This may have occured from a seasonal shift, an out of stock, or a decision by the brand to retract the product from the market. Less probable but something that certainly happens is that Amazon may have frozen their account. Regardless of the reason, there is now an opportunity for the savvy competitor to lean in to this category by increasing ad spend, better positioning existing products according to pricing and keyword trends, to introduce products that fill consumer gaps, and other tactics which take advantage of the competitive gap that has recently been created. The key is to drive up conversion momentum during the period of the category leader's absence, such that if the leader returns, it is easier to compete--and win--against them.
Which products are winning?
This Leaderboard shows the category leading products within the category during the last 30 days. Typically these 10 products earn significantly more revenue than the other products within the category. The strategy to over-spend on advertising and marketing until one's product achieves a rank within the Leaderboard frequently has a benefit other than a magnitude increase in revenue, which is that organic ranking becomes more likely the closer a product gets to the #1 position in the Leaderboard--at which point paid advertising can become unnecessary. The longer a product can stay at the top of this Leaderboard, the more momentum it achieves.
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Leaderboard Rank
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Product Image
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Product
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Price
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Monthly Revenue
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#1
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B08BNGNKW7 | Nathan James Theo 5-Shelf Black Modern Bookcase, Open Wall Mount Ladde...
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$179.99
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$2.0M to $2.5M
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#2
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B08GFMKTHS | FEZIBO Electric Standing Desk, 40 x 24 Inches Height Adjustable Table,...
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$219.00
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$987.9K to $1.2M
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#3
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B07Z1SR9JQ | Coleshome Computer Small Student School Writing Desk 31 inch,Work Home...
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$59.99
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$882.8K to $1.1M
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#4
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B086XKRKJP | Walker Edison Ellis and Gaming Gamer Command Center Workstation Desk H...
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$285.75
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$577.4K to $705.7K
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#5
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B01N99XMM2 | OFM ESS Collection 36" x 48" Chair Mat with Lip for Carpet (ESS-8800C)
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$38.59
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$549.2K to $671.3K
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#6
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B096Z53HWL | Small L Shaped Computer Desk, Homieasy 47 Inch L-Shaped Corner Desk wi...
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$115.99
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$536.5K to $655.7K
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#7
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B07D74DT3B | Soundance Laptop Stand, Aluminum Computer Riser, Ergonomic Laptops Ele...
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$23.77
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$395.1K to $482.9K
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#8
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B08J88HV2P | Cushion Lab Patented Pressure Relief Seat Cushion for Long Sitting Hou...
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$57.99
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$346.4K to $423.4K
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#9
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B07BZCYM9X | Dimex Low Pile Carpet Office Mat Chair Mat, 36" x 48" (C511003G), Asso...
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$34.67
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$287.8K to $351.7K
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#10
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B07V49ZP66 | SimpleHouseware Heavy Duty 3-Tier Metal Utility Rolling Cart, Black
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$42.97
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$287.5K to $351.3K
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Revenue share of the top-performing products
Why is the Average Reviews changing?
A product's review count is one of the most critical components of the E-commerce search algorithm. The recent change from 13,754 to 10,604, a change of -22.9%, is a signal that the category is slightly moving towards lower, less intense competition and seasonal change.
To conclude, a price shift is an opportunity for the astute brand which has a responsive supply chain and a rapid product launch process. This is a call to action to review one's product portfolio for coverage of the top high-volume price points, regardless of the reason why there is a competitive gap on account of a category-leading product retracting from the market, now is the time to act, the recent performance of ASIN #B07D74DT3B ('Soundance Laptop Stand, Aluminum Compute...' by SOUNDANCE) shows that it is the new benchmark., the recent shift in review count is a call to action for those brands which are under-performing--specifically that a stronger focus on marketing and conversion is increasingly important in order to not be left behind.