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U.S. Furniture Retail - Statistics & Facts

Furniture retail in the United States is a very important aspect for the country's economy. The global home goods industry refers to the manufacture, distribution and retail of home furniture, household decorative accessories, soft furnishings (draperies and curtains), appliances, cookware and gardening equipment. During the economic recession, the industry was negatively impacted as consumers cut back on non-essential spending, putting off home improvement projects due to lower disposable income. Furniture and home furnishings stores generated about 116 billion U.S. dollars worth of sales in 2018.

Home ownership, another important factor contributing to home goods demand is increasing as employment levels rebound. As consumer demand for high-end home goods increases, companies are focusing on high-quality goods to fare better against mass-merchandise outfits. In 2018, the average annual expenditure per consumer unit on furniture in the United States amounted to over 518 U.S. dollars; with about 140 U.S. dollars of that being spent on sofas.

Over the years to come, leading players in the U.S. retail furniture industry are likely to concentrate their efforts on product innovation and environmentally friendly business practices, goods and packaging. Demand will continue to rise as the housing sector recovers, with rising affluence in specific demographics such as aging baby boomers driving demand for certain products.

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