Statistics and facts on Furniture, Furnishings & Household Items
The global home furnishings and household items industry encompasses a range of product lines such as bedding, kitchenware and office furniture. Challenges faced by the industry include rising manufacturing costs in regions like China, climbing fuel costs and weak consumer confidence throughout the economic recession.
Recent phenomena in the industry include a trend towards environmentally friendly goods to appeal greater consumer awareness concerning respect for the environment, and product innovation to appeal to specific demographics such as baby boomers.
The market is expected to continue recording growth according to economic recovery, which boosts consumer demand and the need for office services and supplies. Multinational companies operating in the market are likely to continue moving production to emerging nations to cut costs.
A two-tiered approach may be taken by many major manufacturers based on the countries in which their consumers are situated. They may offer more technologically advanced products to consumers within areas such as North America and the EU and then produce products that are less advanced in nature but cheaper to appeal to lower income consumers in emerging nations.
Picture: photodune.net / erikreis