Press release
Home Furnishings Stores Market Report 2024: Strategies And Recent Developments
Home Furnishings Stores Market
The Business Research Company offers in-depth market insights through Home Furnishings Stores Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The home furnishings stores market size has grown strongly in recent years. It will grow from $201.89 billion in 2023 to $213.92 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to consumer lifestyle changes, demographic shifts, consumer confidence, retailer strategies, global supply chain dynamics..
The home furnishings stores market size is expected to see strong growth in the next few years. It will grow to $267.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to smart home integration, urbanization and space optimization, health and wellness focus, customization and personalization, retailer strategies.. Major trends in the forecast period include home renovation and remodeling trends, rental and subscription models, artisan and handcrafted products, outdoor living solutions, resale and secondhand market growth..
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Market Segmentation:
The home furnishings stores market covered in this report is segmented -
1) By Product Type: Home Furniture, Home Textile, Wall Décor
2) By Price Point: Mass, Premium
3) By Application: E-Commerce Sales, In-store Sales
Major Driver - Rising Interest In Interior Design Drives Growth In Home Furnishings Stores Market
The growing interest in interior design is expected to propel the growth of the home furnishings stores market going forward. Interior design refers to the complete practice of developing an interior environment that protects and addresses human needs. Customers attracted by the home style and lifestyle influencers are willing to spend more on various designer and luxury home furniture and are heavily spending on home decor and interior design patterns. For instance, according to Made in CA, a Canada-based online publication, the global interior design market size is expected to reach over $339 billion by 2027. Therefore, growing interest in interior design is driving the growth of the home furnishings stores market.
Competitive Landscape:
Major companies operating in the home furnishings stores market report are Ashley furniture industries Ltd., Duresta Upholestry Ltd., Kimball International, Shaw Industries Group Inc., Inter IKEA Group, Mohawk Industries Inc., Manning Mills Inc., Forbo Intenational SA, Bed Bath & Beyond Inc., Wayfair LLC, Herman Miller Inc., Suofeiya Home Collection Co. Ltd., Springs Window Fashions LLC, Hansemm Corporation, Armstrong World Industries Inc., Walmart Inc., Macy's Inc., home24 SE, Conair Corporation, J.C. Penney, Home Depot Product Authority LLC, Williams-Sonoma Inc., Rooms To Go, Crate & Barrel, Ethan Allen, La-Z-Boy, Pier 1 Imports Inc., Pottery Barn, RH, Havertys, Bassett Furniture, Raymour & Flanigan, American Furniture Warehouse, Nebraska Furniture Mart, Bob's Discount Furniture, Jordan's Furniture, Value City Furniture, Mathis Brothers Furniture, Living Spaces, Badcock Home Furniture & More, Leon's Furniture, Dufresne Furniture & Appliances, Bernie & Phyl's Furniture, Kane's Furniture, El Dorado Furniture, Arhaus, Ballard Designs .
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Top Trend - Innovation Leap Revolutionizes Home Furnishing Stores Market
Technological advancement is a key trend gaining popularity in the home furnishing stores market. Major market players are concentrating their efforts on creating innovative technologies to strengthen their position in the market. For instance, in June 2022, IKEA, a Sweden-based home furnishing company, launched IKEA Kreativ, an AI-powered experience empowering customers to create life-like room designs. IKEA Kreativ is a software with spatial computing, machine learning, and 3D mixed reality technology helping in room design.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Home Furnishings Stores Market Characteristics
3. Home Furnishings Stores Market Trends And Strategies
4. Home Furnishings Stores Market - Macro Economic Scenario
5. Home Furnishings Stores Market Size And Growth
…..
27. Home Furnishings Stores Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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