The American home decor market size was valued at around $125 million in 2019 and last year hit around $130 million, with it estimated to reach over $158 million by 2027.
With more people staying in their homes throughout the pandemic and a surge of disposable income in some households, the industry continues to grow and the demand for unique and custom products increases too.
Redline Steel, recently named via the INC 500 List as one of America’s fastest growing private companies for home decor and steel items, has capitalized on these growing trends in the home decor and steel industries.
Behind the company is founder Colin Wayne, a US Army Veteran-turned entrepreneur who using his digital marketing abilities and e-commerce skills, grew Redline Steel into what it is today across the country.
- Why have you been able to be so successful in the marketplace/industry you are currently in?
Through utilizing digital marketing in the age of Social Media, I’ve been able to capitalize on market opportunities and further increase brand awareness and naturally build consumer trust over time. Once you gain validation within your customer base, you can start laying the groundwork towards building a successful brand/business. Overall, my company, Redline Steel, has thrived on targeted ad spending online, which has essentially turned first-time buyers into lifelong customers.
- What trends in your space do you see happening in the near future?
I think a trend that will form and take shape soon is seeing more and more companies swap from frontend e-commerce platforms over towards Headless commerce. Given the increased flexibility on the backend and the content marketing, the capabilities of an even smoother digital experience are endless. By swapping over and becoming 100% headless, a company will receive full control on the entire customer journey from the content they choose to share to a more personalized checkout process that fits best for their brand. As we enter a new era of online browsing, more and more platforms are using their influence to regulate businesses by way of restrictions and censorships that I think we’ll start to see companies come together and say ‘enough is enough’ eventually leading to a future generation of headless commerce.
- What has been your biggest hurdle since starting your company?
For someone like myself that loves the marketing aspect of running a business, I think it’s about finding that balance between the amount of website traffic obtained through ads, while balancing the capacity of production to ensure the highest level of efficiency.
- What advice would you give others in the business world right now?
With the market continuously changing and evolving every day, it’s crucial to build continuity at scale by ensuring sustainable revenue in an unstable market. Therefore, I strongly encourage other business owners to form subscription services for their company. This promotes exclusivity and convenience for the customer, while also giving the company predictable revenue and customer retention.
- How important is a good “team”?
It goes without saying but having a good team is extremely invaluable when running a business. As business owners, we’re constantly being pushed in several different directions, preventing us from being ‘in the know’ with every single issue, decision, or responsibility within the company. Having a good team means absolute trust between you and your employer, helping to alleviate the natural stress that comes with running a business. Great teams are able to build lasting relationships through working together towards a common goal, which in turn develops a strong sense of comradery and heightened morale.
- Besides your own steel / home decor industry, what other industries would you invest into if you could/already do?
I think the most popular choice and potentially safest bet for the future is within the Technology sector. Without including the rise in artificial intelligence and robotic automation, the use of technology is already a mainstay within other industries such as Auto, Energy, Healthcare, and Cybersecurity (just to name a few). As the world evolves, so will technology.