Home Furnishings Stores Global Market Report 2023
Major players in 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.
New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Home Furnishings Stores Global Market Report 2023" - https://www.reportlinker.com/p06464189/?utm_source=GNW
, 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 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.
Read the full report: https://www.reportlinker.com/p06464189/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001