Homethreads uses data to create an improved customer experience

Antoine Grant is a business expert who has only recently become a businessman. Since joining Bain & Company in 1996, Antoine Grant has worked in publishing, real estate, education and publishing. Most recently, he was a director of Wayfair where he led their plumbing and hardware division through double-digit growth during the peak of the pandemic.

He became CDO and purchased online retailer Homethreads in May.

Homethreads, unlike Wayfair where you can buy almost anything for your home, offers a “curated collection of interior design quality home furnishings” at fair prices. This requires them to have the data which gives them an in-depth knowledge of their clients. Homethreads was attracted to Grant because of the data.

We spoke with him about Homethreads data-first strategy and what he hopes to achieve. Interview edited for clarity and length. )

Q. What sets Homethreads Apart from the Competition?

Homethreads offers a complete home decor solution. We are a retailer for home décor, home improvement and home decor products. But we use our own proprietary technology. We have our own platform unlike most retailers who use Shopify. This gives us the freedom to do interesting things with data, and improve user experience.

Q. When did the data technology become its own?

A :The founders, who were both frustrated online shoppers, set out to create a better solution. The founders had 30+ years experience in textile sales, and 30+ years in marketing. They also worked with top fashion and home furnishings brands. About six years ago, they came together and said: “Look, let’s create something in our image.” And so, they began building their proprietary technology. They wanted to have a seamless solution and more control over the data. It was born in this way.

A: There’s nothing worse than visiting a website and trying to find a specific size sofa in a particular fabric, only to be shown lounge chairs and sectionals.

A: That’s right. The idea was that the more the customer saw, the better. We don’t. We’re not doing that. In the next six months, you will see a completely different user experience, based on six years’ worth of data we have collected about our customers. We want to learn more about our customer to become a better curator.

Q. What have you learned about your customers from this data?

A : The biggest realization is that is more nuanced and complex than most people think. Home decor customers are usually divided into three categories. There are those who want to do it all themselves and are handy. You have people who are handy and want to do everything themselves. They want to install lights but not do plumbing or demolition. Then there are those who say, “Here is my credit card. Do it all for me.”

There is nuance within these segments. Catalytic events can push someone to buy. Moving and having children are the two biggest catalysts. Graduation parties are another example.

Data and technology allows us to not only say that if you shop, you fall into one of three buckets, and perhaps there is an event pushing ,'”‘, but to understand you at the moment, to look back at past transactions, and to see what could be compatible with your space.

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Q. And knowing this allows you to what?

A The key to relevancy is relevancy. This applies to performance marketing, email campaigns, and even product descriptions pages. You don’t have to show the exact same thing to everybody.

You might send an email if you want to share information about how to redesign your outside space, or if you have a new product coming out. If you live in Boston, your outdoor needs are different from mine. You’re in colder weather and I’m warmer. If I can serve you more relevant information in an email then I will have a greater chance of sparking passion, loyalty, and hopefully conversion.

We’re currently working on the relevancy and curation pieces. How can we ensure that the content we serve up is something you would actually like to see?

Jim Stengel, who was CMO of P&G in the past 20 years, once told me: “You can’t know your customers too well.” And I think that AI will be the key to leveraging that knowledge at scale.

A :I believe AI is just as transformative as computers, telephones or email. It’s here, and those who embrace it, and figure out a way to use it that isn’t necessarily in front of the customer, like a trick, will be the ones that come out on top. How can we use it to help solve our customer’s frustrations? I do think that everyone needs to learn how to use it effectively to solve problems.

Q. It’s September, and you purchased Homethreads only in May. You’re still a newcomer to the company. What’s your vision? What are the easy changes you can make and what is your bigger plan?

A: It’s a great question. I won’t say too much but the user experience is a must. We are implementing changes to improve the user experience of the site. The site is being prepared to meet customers where and why they shop for furniture.

You’re not really buying a couch, or a bunch of products. Instead, you are buying to fill a certain space. We want to be a solution. We want to move away from the product side and focus on projects. By focusing on the reasons people buy, we can achieve our long-term goal.

Q. What is?

A : For many people, their home is where they spend most of their time. It used to just be the office or other places like that. But now, your home is your main social gathering place. Since the pandemic, its importance has increased significantly. This has led to more spending at home.

The trend shows that more people will start and complete their home purchase online. In five years, I believe 40% of people will begin their home purchase online. It’s far less today. We have to get inside their head to make it invisible.

Q. I can tell you what’s going on. I have been working at home since 2008, and people are going to get bored of their decor. I’ve been staring at these paintings for years and something has to change.

A :I believe you are right. I also think that it could be other things. You said that you were bored, and that change was good. You’re also using things more and noticing it more because you’re at home more. You’ll want to replace the faucet on this chair and its leg. Thirdly, I believe you will find more inspirations that are attainable. You might be in a hotel, on a college campus or at someone’s house. Or you may have seen something online. How can you translate it into your own space?

We are developing technology that allows you to see how it will look in your own space. You can translate your inspiration into reality using technology.

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