Online Household Furniture Market 2019
Online Household Furniture refer to online sell furniture and decoration design.
Growing environmental consciousness and concern for a healthy environment have led to increased demand for eco-friendly furniture and other furnishings. Awareness of the effect of deforestation on climate change and the effects of toxic finishes in the air inside homes has led many furniture manufacturers to go green. Manufacturers offer a wide range of aesthetic furniture constructed using bamboo, which is stronger and harder than most other wood, including oak.
In 2018, the global Online Household Furniture market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Online Household Furniture status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Online Household Furniture development in United States, Europe and China.
The key players covered in this study
Rooms To Go
Market segment by Type, the product can be split into
Solid Wood Type
Market segment by Application, split into
Consumer goods are sold directly through retailers. Thus, an increase in the networking of store-based distribution channels is projected to support the expansion of the industry. Case to the point is, Walmart has recently invested in the expansion of its stores in six states. In addition, the growing presence of e-commerce giants is also expected to facilitate profit maximization over the next couple of years. The favorable laws and endeavors that are redefining the consumer experience, such as self-service kiosks, contactless payment, etc. are likely to have a positive influence on the sales of the goods.
The growth of the industry is highly dependent on consumer preferences. In order to sustain the competition, management should be quick enough to align itself with the changes in consumer preferences. The competitive landscape is characterized by robust competition and product differentiation. Thus, product development and product innovations are expected to earn the competitors a competitive edge over others. Investments are projected to be injected into the future trajectory for marketing strategies such as attractive packaging, advertising, etc. It is projected to catalyze the pace of growth of the industry over the next couple of years. In addition, the industry is also expected to witness an influx of new entrants. The survival of these entrants depends on factors such as price sensitivity, quality, innovation, etc.
The drive of globalization has transformed the industry in the past decade. The availability of imported products, in conjunction with the opportunity of exporting products to other nations, is anticipated to have a favorable impact on the pace of the industry’s expansion. Increasing purchasing power is another major factor responsible for positively influencing the expansion of the industry. It is poised to demonstrate a similar trend in the years to come.
Technological advancements have paved its way across the industry. Rising applications of these advancements across the industry are projected to catapult the industry on an upward trajectory. To illustrate, industry leaders are leveraging technology to increase the shelf-life of durable goods. This, in turn, is anticipated to increase sales in the industry over the next few years. It has been observed that not every leader can be an innovator, but the growth depends on being a fast follower of the trend. The changes in product portfolio according to the shift in consumer behavior is expected to boost revenue growth in the forthcoming years.
North America is anticipated to expand at a steady rate, mostly because of its strong economic development. The high standards of living and high purchasing power being observed in the region are expected to drive the growth of the industry over the next couple of years. Also, the consolidation of major retail store chains in the region is likely to boost the expansion of the industry in the years to come. The U.S. and Canada are poised to contribute substantially to the expansion of the industry in the upcoming years.
Europe is likely to exhibit similar growth trends. The presence of developed nations such as Germany, the U.K., Italy, etc. is projected to favor the proliferation of the industry over the next few years. Meanwhile, Asia Pacific resonates developmental opportunities owing to rising disposable income. The fast-developing economies in the region such as China, India, Japan, etc. are expected to boost the revenue growth of the industry in the region. Also, urban migration is expected to contribute significantly towards the development of the consumer goods industry.
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