The home furnishings retail industry allows consumers to make their homes truly their own with their very own choices of furniture and décor to adorn them. It is a multi-billion-dollar industry, which employs large numbers of people around the world. For many years, the industry operated using offline channels exclusively; however, thanks to significant advancements in logistics, buying furniture online became a possibility. By 2025, the global market value of furniture was forecast to reach over 1.6 trillion U.S. dollars, while in 2022, furniture e-commerce was estimated to account for nearly 400 billion U.S. dollars in revenue.
The United States generated nearly 227 billion U.S. dollars in furniture revenue in 2021, making it the leading market globally. China and Germany came in second and third place, with both markets going over the 50 billion U.S. dollars mark. While most consumers still prefer to buy their furniture in stores, the opposite trend is quickly increasing. In the United States, the homeware and furniture industry represented roughly 17.3 percent of the total e-commerce segment in 2021.
Furniture market worldwideIn the United States, consumer spending on furniture and bedding has increased over the past years and was projected to grow even further by the end of 2021. Most of the sales still come from traditional furniture stores, followed by online channels that take up the second-largest chunk of the market. Besides online, competition for home furnishing stores includes department stores, mass merchandisers, home improvement stores, and furniture makers that have their own stores.
Mattress retail in the U.S.Besides e-commerce, a notable trend is the rise of augmented reality. Most consumers still prefer to buy large pieces of furniture in-store yet many of them start the buying process online. With augmented reality, furniture retailers are enabling shoppers to visualize how a sofa, or bed will look in their homes, facilitating their purchase decision. Another trend is the growing concern about climate change and deforestation, which has resulted in an increased interest in sustainable furniture.
Growth of augmented reality spending worldwideIKEA, a Swedish multinational company based in the Netherlands, has been the world’s leading furniture retailer for the past decade. IKEA offers low prices and a huge range of products, while constantly introducing new product designs that look stylish in the eyes of customers. All the products are designed so they are easy to transport and assemble. The company has over 400 stores and is the most valuable furniture retailer brand in the world.
IKEAThe furniture retail category offers historical and forecast data about the industry’s revenues and market size. Statistics about bedding and home furnishing retailers are available, including the industry leaders in terms of sales and number of stores. Additionally, it encompasses statistics of furniture retailers' number of store visits, number of employees, distribution of sales by category, region, and market share information.
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