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Home Furnishings Stores Market Size, Growth & Trends 2024-2033 | Analysis, Share & Forecast
Home Furnishings Stores Market
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..
Market Overview -
Home furnishings stores refer to retail store that sells household equipment, usually made of wood, metal, plastics, marble, glass, fabrics, or related materials of a room, home, or office. These businesses are typically run from showrooms, and many provide interior decoration services in addition to product sales.
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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 .
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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