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Online Home Decor Market Trends, Applications and Competitive Landscape By 2031 | Amazon, Bed Bath & Beyond, Walmart

06-05-2024 09:04 AM CET | Consumer Goods & Retail

Press release from: Coherent Market Insights

Online Home Decor Market

Online Home Decor Market

The online home decor market size is expected to reach US$ 206.05 billion by 2030, from US$ 97.39 billion in 2023, growing at a CAGR of 11.3% during the forecast period. Online home decor includes products such as furniture, textiles, decorative accessories, and more that are purchased online for residential or commercial spaces.

Market Overview:

The online home decor market involves sales of home decorative items like furniture, lighting, textiles, and other accessories through e-commerce platforms. It provides convenience to customers to browse, compare prices and designs, read reviews to select products from the comfort of their home.

Market Dynamics:

The online home decor market is witnessing high growth owing to growing internet penetration across regions. As per statistics, global internet users reached 4.95 billion in 2022, representing 63% of the world's population and growth of 190 million new users over the past year alone. Growing preference for online shopping among consumers due to benefits like convenience, discounts, easy returns is another key factor augmenting the market growth. Furthermore, increasing disposable income and changing consumer lifestyles are also fueling the demand for home decor products globally. Vendors in the market are investing in virtual and augmented technologies to provide virtual platform for customers to visualize products which is further attracting more customers, thereby driving the market growth during the forecast period.

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Online Home Decor Market Drivers: Consumers preferring online shopping for better product options and competitive pricing

With the rise of e-commerce, consumers are now preferring online shopping over visiting physical stores for various home decor items. Shopping online provides them access to a huge variety of products from different brands, designs, styles, materials and price points under one roof. Customers can compare features and prices of multiple products sitting at home without having to visit multiple stores. Many online home decor retailers also offer consistent and competitive pricing along with regular discounts and deals which attract more customers. The ever-expanding product catalogs and convenient shopping experience has made online shopping a preferred choice for home decorators.

Availability of high-quality 3D product visualization driving higher online consideration and purchase

Online retailers have invested heavily in 3D product visualization and augmented reality/virtual reality technologies to provide superior shopping experience to customers compared to physical stores. Features like zoom, spin and placement tools allow customers to accurately visualize how different furniture, fixtures, paintings etc would look in their home interior before purchase. This improves their decision making and reduces post-purchase dissatisfaction. The realistic 3D simulations and ability to place digital products in real photos of customer's rooms have made online shopping safer by addressing the inability to physically check products faced in online stores earlier. This has addressed a major concern for high involvement purchases of expensive home decor items and driven higher conversion rates.

Online Home Decor Market Opportunity: Increased focus on personalized customer experience

With rising competition from choice of both online and offline retailers, home decor companies are recognizing the need to Shift from mass marketing to more personalized customer experience strategies. There is a massive opportunity for retailers who can offer a tailored shopping journey to customers by understanding their individual design preferences, budget, home space requirement etc. Personalized product recommendations, instant connects to interior designers, customization or bundling of furniture sets specific to room layouts, curated decoration ideas are some ways to enhance customer experience. Building loyalty can be a key differentiator through engaging personalized touch-points that make customers feel special at every stage of their home decor journey. harnessing big data, AI and new technologies will help retailers convert this opportunity into competitive advantage.

Worldwide major and leading players within the market are:

★ Amazon
★ Bed Bath & Beyond
★ Walmart
★ Wayfair
★ IKEA
★ Overstock.com
★ Target
★ Home Depot
★ Williams-Sonoma
★ Lowe's
★ Etsy
★ eBay
★ HomeGoods
★ JCPenney
★ Kohl's
★ Macy's
★ Pier 1 Imports
★ Crate and Barrel
★ At Home Stores
★ Restoration Hardware

Don't wait, Make a strategic approach & boost your business goals with our Online Home Decor Market Forecast Report - Buy Now @ https://www.coherentmarketinsights.com/insight/buy-now/6212

Segmental Overview

Online Home Decor Market segmentation offers an in-depth analysis of the various segments of the market, including application, type, end use, and region. The segmentation overview section offers crucial information about the market share, sales, and growth rate for each of the segments over the forecast period. Moreover, an examination of the relative multitude of significant sub-portions in the market has been canvassed in the report.Having a knowledge about the various segments and sub-segments helps businesses recognize the importance of factors that drive industry growth.

The titled segments and sub-section of the Online Home Decor market are illuminated below:

Global Online Home Decor Market, By Product Type:

★ By Product Type: Furniture, Home Textile, Home Decor, Kitchenware, Bathware, Garden Decor, Others (Wall Decor, Lighting, Rugs, and Mirrors)
★ By Price Range: Premium Price, Medium Price, Low Price
★ By Distribution Channel: Online, Offline
★ By End User: Residential, Commercial
★ By Material Type: Wood, Glass, Metal, Plastic, Ceramic

Regional Analysis for Online Home Decor Market:

📍 North America (United States, Canada, and Mexico)
📍 Europe (Germany, France, UK, Russia, and Italy)
📍 Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
📍 South America (Brazil, Argentina, Colombia, etc.)
📍 The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Key Highlights of the Report

Offers a comprehensive and holistic analysis of the Online Home Decor Market.
Evaluates the competitive environments, covering partnerships, joint ventures, acquisitions, and organic growth.
Provides forecast information related to every region and sub-region of the Online Home Decor market.
Includes information on the key opportunities and challenges faced by key industry players worldwide.
Covers the Online Home Decor market's current and future market outlook on industry drivers, market restraints, and regional constraints.
The report answers a number of crucial questions, including:

➥ Which companies dominate the global Online Home Decor market?
➥ What current trends will influence the Online Home Decor market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular Online Home Decor market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?

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Contact Us:

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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