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Home Furnishings Stores Market Growth Analysis, Trends, Share, Market Size And Forecast To 2033
Home Furnishings Stores Market Growth
As per the report, 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 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%.
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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.
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 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
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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 .
Contents of the report:
1. Executive Summary
2. Home Furnishings Stores Market Report Structure
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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