July 20, 2024


Do you know Interior

How Modsy is carving a niche in the future of interior design

After spending months at home practicing stay-at-home orders, some Americans are itching to spruce up their space — and Modsy is looking to assist.  

Although over 50 million people have lost their jobs during the COVID-19 pandemic, those with flexible work-from-home arrangements still have the means to spruce up their abodes. Indeed, the lockdowns of March and April gave some of them a head start.

Enter Modsy, which just recently launched its first mobile app for IOS offering 3D renderings, merging professional and do-it-yourself (DIY) designs.

“We want to create a space where you’re excited to live in. The app is designed to take pictures of your space and render it into a photorealistic version of your room. No measurements required,” Modsy Founder & CEO Shanna Tellerman told Yahoo Finance’s On The Move last week.

NEW YORK, NY – MAY 09: Co-founder and CEO at Modsy Shanna Tellerman speaks onstage during TechCrunch Disrupt NY 2016 at Brooklyn Cruise Terminal on May 9, 2016 in New York City. (Photo by Noam Galai/Getty Images for TechCrunch)

The interior design services market is projected to grow by $23.15 billion through 2023, according to research from Technavio. Meanwhile, Modsy is facing an increasingly crowded market of competitors like Control, Havenly, and Decorist.

Yet Tellerman told Yahoo Finance that her company has a few things working in its favor, including flexible pricing. “We charge a service fee up front that ranges anywhere from $89 up to our Luxe Program,” she said. That is “still more affordable than an interior designer,” Tellerman added.

Modsy’s platform takes into account a user’s design preferences and budget, and matches their personal sense of style.

Once the user finalizes their interior design needs, Modsy designers will give back shoppable versions of what the home could look like. Tellerman explains that the app ultimately helps designers “get a full sense of your entire room” and utilize the area properly.

Modsy sources over 100 retailers, from places like Wayfair, CB2, and Crate & Barrel — in addition to “emerging brands you may have never come across,” Tellerman added.

With uncertainty in the markets and doubts about whether consumers can continue spending in the face of a raging virus, Tellerman voiced optimism that Modsy can keep thriving.

“We’re sensitive to the face that there could be delays in furniture…but it turns out the home is the center of your life right now and people are spending a lot more time thinking about how they’re going to use their space,” she said.

Kristen Tsoubanos is a production assistant at Yahoo Finance.

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