The home furnishings retail industry allows consumers to make their homes truly their own with their very own choices of furniture and décor. It is a multi-billion-dollar industry, which employs large numbers of people around the world. In 2022 the global market value of furniture was estimated to be worth over 650 billion U.S. dollars and was forecast to grow to almost 850 billion dollars by 2026. Like many other industries, e-commerce is steadily gaining a market share in the industry. This has been further helped by advancements in logistics and delivery options. Other trends that will have an impact on the industry over the coming years include sustainability, secondhand sales, and the use of virtual reality.
Revenue of the furniture market worldwide in 2021, by country (in million U.S. dollars)
Further details: Visit original statistic Revenue of the furniture market worldwide in 2021, by country (in million U.S. dollars)
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 worth over the 50 billion U.S. dollars mark. While most consumers still prefer to buy their furniture in stores, e-commerce has a strong presence. In the United States, the homeware and furniture industry represented roughly 17 percent of the total e-commerce segment in 2022.
Furniture market worldwideFurniture and home furnishings store sales in the United States from 1992 to 2021 (in billion U.S. dollars)
Further details: Visit original statistic Furniture and home furnishings store sales in the United States from 1992 to 2021 (in billion U.S. dollars)
In the United States, consumer spending on furniture and bedding has increased over the past years. 2021 saw particularly strong growth in furniture and home furnishing store sales, surpassing 140 billion dollars, making such stores the leading sales channel. Online channels take up the second-largest chunk of the market. Other 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.Investment in augmented and virtual reality (AR/VR) technology worldwide in 2024, by use case (in billion U.S. dollars)
Further details: Visit original statistic Investment in augmented and virtual reality (AR/VR) technology worldwide in 2024, by use case (in billion U.S. dollars)
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 worldwideAnnual revenue of the IKEA Group worldwide from 2001 to 2022 (in billion euros)
Further details: Visit original statistic Annual revenue of the IKEA Group worldwide from 2001 to 2022 (in billion euros)
IKEA, 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 450 stores and is the most valuable furniture retailer brand in the world.
IKEA
The 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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