What is Kuldea?
Kuldea is an online marketplace that aggregates furniture products across the entire UK retail market and places them in one website. It is the ‘Home for Furniture Discovery’ where people search, compare and shop furniture and furnishings with ease and simplicity.
How does Kuldea work?
The website is free for people to use and they have the option of subscribing to Kuldea and creating an account. This allows them to favourite and follow products, access regular home furnishing advice and inspiration articles and build personalised home furnishing collections from across the market that best suits their style.
Founded in 2017, Kuldea has been brought to life by the vision our Co-Founders Deirdre Mc Gettrick and Ray Wright, an Irish/ Australian couple who have made it their mission to bring all online furniture products and retailers into one website. The genesis for the business came after Deirdre and Ray purchased their first home. They quickly became frustrated with the current furniture search process through not being able to find products they wanted and create their own original home look. This occurred because many unique retailer brands were largely unknown to them and not easily searchable in the current online furniture market.
As a disruptive tech start up, Kuldea has been developed from concept to operational business under the guidance of Setsquared, Basingstoke where its Co-Founders are mentored by Entrepreneur in Residence, Adrian Braine. The Kuldea website was launched in late December 2018 and it produced immediate results with over 3,000 online furniture shoppers visiting the website within the first month of trade. This trend continued into its second month as website traffic, product purchases and website subscribers increased.
Through market research and learnings taken from Kuldea website analytics there are clear market drivers that indicate the need for Kuldea’s technology and service:
- The value of the UK homewares market was estimated at approximately £13.6bn in 2018, representing an increase of approximately £200m on the 2017. Online sales accounting for approximately £1.9bn*(Statista.com)
- The size of the market is expected to continue to grow over the next two years, reaching a forecasted value of £14.1bn in 2020, with online sales accounting for approximately £2.26bn* (Statista.com)
- 70% of furniture purchasing journeys start with online search within people aged between 25 and 45* (Lightspeed/ Mintel)
- 1 in 5 Millennials look at websites like Pinterest and Instagram to give them ideas for home furniture*(Lightspeed/ Mintel)
- 79% of Millennials use their mobile phone to run price searches on products* (Lightspeed/ Mintel)
- 51% of mattresses were purchase online v 47.4% instore in 2017* (National Bed Federation)
- 71% of Kuldea website visitors visit the site on their mobile phone*(Kuldea website statistics)
These statistics give validation to the ever-growing usage and reliance that society has on the internet to provide easy and convenient shopping solutions. Further validation of these statistics are highlighted in the continual decline of the UK High Street and Bricks and Mortar stores. Company Voluntary Agreements have become extremely familiar in the UK as highlighted in cases such as Debenhams due to the shift in shopping dynamic to online, reduced footfall and increasing business rates.
Furniture retailers such as Multiyork and Warren Evans entered into administration in 2018 and have such disappeared from the market all together. This trend will not change unless significant migration to online is adopted by furniture retailers in order to connect with people in the way they have adapted to shopping for furniture in the modern-day market.
With over 950 furniture retailers listed in the UK it is Kuldea’s goal to help these retailers connect with the growing amount of people searching and shopping online for furniture. Kuldea’s value proposition is ultimately one that connects the supply and demand forces in the market by making furniture shopping easy and simple on both sides of the spectrum.
Links to social channels
Marketing team contacts
Ray Wright, Managing Director
Ph: 07881 244113