People can’t see into the future, but Modsy is approximating it best. The interior design platform debuted a new renovation service this week that allows customers to visualize home-improvement projects using 3D tech.
How it works: Customers can walk through their space virtually, whether it’s a living room, kitchen, bathroom, or an outdoor patio, and collab with a designer on a layout. The 3D plans get into the nitty gritty, showing every detail down to the bedside lamp.
- Once construction begins, Modsy’s designers work with service professionals to complete the project.
- The company sources products from 100+ retail brands, including The Tile Shop, Home Depot, and Wayfair.
When building out a new space, one of the biggest pains can be having to return products, big and small, Modsy co-founder and CEO Shanna Tellerman told Retail Brew. “For retailers, and for everybody in the industry, to be able to give consumers confidence through visualization, and then to know that things really fit, cuts down on returns,” she said.
The big picture: The home-improvement fervor that took hold in 2020 is still going very strong, Tellerman said.
- Private spending on home improvement hit $250 billion in 2021, up from $232 billion in 2020, according to IBISWorld.
Tellerman expects Modsy’s revenue to grow by 200% over the next two years. (She added that the company’s rev is up 250% since 2019, but declined to share specific numbers.) “There’s a long pent-up demand for real estate in most markets,” she said. “There’s also been a lack of resources, or there’s been too much demand for contractors and architects.”—KM
Correction: This story has been updated on March 10, 2022 to reflect that Modsy’s revenues grew 250% since 2019, not 300%.
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