The report addresses this challenge by providing information about key elements of the global Home Furnishing market and presents insights into them. The report gives a blueprint of the global Home Furnishing market, featuring its definitions, specifications, classification, applications, chain structure, and regional distribution.
The US and the UK are expected to see 7. Inthe UK had the highest percentage of furniture and homewares purchases made online in Europe at approximately More customization options are available online and allow for a level of differentiation not available in-store.
In the last few years, numerous pure-play furniture and home furnishings retailers established across the world, including Made. Among major Western markets, the UK has the highest penetration of online furniture and homewares sales and is expected to experience the fastest online growth in the category going forward.
Although traditional brick-and-mortar home furnishings retailers still generate the largest chunk of industry revenue, these stores are tending to lose market share to rival channels such as specialty chains, off-price retailers and dedicated Internet-only retailers. In the last few years, numerous innovative pure-play furniture and home furnishings retailers were established across the world, but few have reached critical mass.
US-based Wayfair is the only online pure-play furniture and homewares company of significant size.
The online channel makes it easy and convenient to research hundreds of varying designs and products, and makes it unnecessary to visit an endless round of stores. INTRODUCTION In this report, we explore global online furniture and homewares retailing, looking at the size of the market, forecast growth rates, and the proportion of furniture and homewares sales generated online compared to total sector sales.
We will closely examine online furniture and homewares retailing in leading e-commerce markets including the US, the UK and Continental Europe. We will also profile retail formats and focus on leading furniture and homewares retailers that have built large e-commerce businesses, as well as pure-play and innovative startup online retailers The online furniture and homewares market will continue to experience robust growth globally because the Internet is a very suitable channel for research and purchasing given the hundreds of customization options available online versus in-store.
China generates almost half of the total global market revenues.
The percentage of online furniture and homewares retailing is increasing worldwide; the UK, the US, France and Germany all report solid year-over-year growth. There are several factors driving the robust e-commerce growth in furniture and homewares compared to traditional brick-and-mortar stores.
Many traditional furniture and homewares retailers such as Williams-Sonoma and Restoration Hardware have invested heavily in building out Internet businesses and now derive a large portion of total revenues through their online channel.
Although traditional brick-and-mortar home furnishings retailers still generate the largest chunk of industry revenue, these stores are tending to lose market share to rival channels such as specialty chains, off-price retailers and dedicated Internet-only retailers that offer wide ranges and low prices.
Various retailers have launched homeware product collections and expanded their offerings both in-store and online. Numerous innovative pure-play furniture and homewares retailers have launched, but few have reached critical mass or even reported a profit.
Wayfair is the only US publicly-traded online pure-play furniture and homewares company of significant size. Although the retailer has grown revenues rapidly, the company is still unprofitable, which gives testament to the fact that the online channel can be a difficult one, regardless of the product category.
The furniture and homewares retailers presented in the charts below are those major stores that disclose the amount of online sales or the year-over-year growth rate of their online revenues.
Among the biggest brick-and-mortar retailers, Williams-Sonoma and Restoration Hardware lead in online contribution to revenues, both with around half of total sales from e-commerce in The process of purchasing furniture or homewares differs from shopping for many other product categories.
Consumers tend to seek unique and original merchandise and often have a hard time articulating precisely the exact product and design they are looking for. Additionally, many furniture and homeware purchases are items that will be used over the long-term. This leads customers to conduct more research and comparisons, processes which are far simpler and quicker online.
Customer reviews found on some sites also provide another informative service for consumers. The online channel is very suitable for researching hundreds of varying designs and products, without the need to visit an endless round of stores.By Bernie Cahiles-Magkilat. IKEA, the Swedish-based global home furnishing giant which opening of their store in the Philippines has long been an awaited event among Filipinos, said that the local market is ripe for their company and for any other retailer to enter.
Feb 18, · The report firstly introduced Home Furnishing basic information included Home Furnishing definition classification application industry chain structure industry overview; international market. PAOLA GOVONI, is a journalist and since a Partner of CSIL, Centre for Industrial Studies, with headoffices in Milan, Italy.
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Global Furniture and Furnishing Industry Analysis, Size, Market share, Growth, Trend and Forecast to Global Furniture and Furnishing Market Research Report contains historic data that.