Home Furnishings Stores Global Market Report 2023

“Home Furnishings Stores Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on home furnishings stores market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for home furnishings stores? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The home furnishings stores market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Type: Home Furniture; Home Textile; Wall Decor
• 2) By Price Point: Mass; Premium
• 3) By Application: E-Commerce Sales; In-store Sales
• Companies Mentioned: Ashley furniture industries Ltd.; Duresta Upholestry Ltd.; Kimball International; Shaw Industries Group Inc.; Inter IKEA Group
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major companies in the the home furnishings stores market 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., home 24, Conair Corporation, J.C. Penney, and Home Depot Product Authority LLC.

The global home furnishings stores market is expected to grow from $191.74 billion in 2022 to $203.71 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The home furnishings stores market is expected to reach $249.81 billion in 2027 at a CAGR of 5.2%.

The home furnishing stores market includes revenues earned by entities by providing design services, design consultation, architectural details and drawings, space planning and interior architecture, selection of furniture and accessories, custom furniture and textile design. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Home furnishings stores refer to retail store that sells the 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.

North America was the largest region in the home furnishings stores market in 2022. The regions covered in home furnishing stores report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of products that are available in home furnishings stores are home furniture, home textile, and wall decor. Home furniture refers to all movable compactable articles or apparatus furnishings of a room or house such as furniture, curtains, carpets, and decorations. They are available in mass and premium price points for various applications including e-commerce sales and in-store sales.

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 to 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 homes decors and interior design patterns. For instance, according to Made in CA, a Canada-based online publication, the global interior design market 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.

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.

In February 2022, Heavenly, a US-based online interior design start-up, acquired The Inside for an undisclosed amount. With this acquisition, Heavenly paves the way to create an innovative design ecosystem and make home design an accessible and personalized experience. The Inside is a US-based home furnishing company that makes home furnishing items like custom furniture, wallpapers, chairs, accent tables, rugs, screens, and others.

The countries covered in the home furnishing stores market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from selling goods and services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The home furnishings store market research report is one of a series of new reports from The Business Research Company that provides home furnishings stores market statistics, including home furnishings stores industry global market size, regional shares, competitors with a home furnishing stores market share, detailed home furnishings store market segments, market trends, and opportunities, and any further data you may need to thrive in the home furnishings stores industry. This home furnishing store market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.