Furniture And Home Furnishings Stores Global Market Report 2022 : Market Size, Trends, And Forecast To 2026
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As per The Business Research Company’s “Furniture And Home Furnishings Stores Global Market Report 2022”, the furniture and home furnishings stores market share is predicted to reach a value of $436.83 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The furniture and home furnishings stores market is expected to grow to $556.55 billion in 2026 at a CAGR of 6.2%. Furniture and home furnishings stores are adopting a robust and cohesive strategy for data analytics in management.
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Key Trends In The Furniture And Home Furnishings Stores Market
Augmented reality (AR) and virtual reality (VR) empower the customer experience by letting them connect to the product with interactive and personalised options. While AR is a real-time integration of digital information with the user’s environment, VR is a three-dimensional, computer-generated environment that can be explored and interacted with. This allows the customers to understand the experience of owning a product. Furniture and home furnishings companies should consider using virtual reality technology to enhance the customer experience. IKEA, a Swedish multinational company, has launched an AR catalogue application that allows customers to see how certain items of furniture would look in their home. Consumers can virtually visualise how these pieces will look and fit in their homes according to the product’s dimensions. Indian players such as Pepper Fry have also started using AR technology to show users how certain products will look in their home through their mobile application.
Overview Of The Furniture And Home Furnishings Stores Market
The furniture and home furnishings stores market consists of sales of furniture and home furnishings by entities (organizations, sole traders, and partnerships) that sell furniture and home furnishings and appliances to ultimate users from fixed point-of-sale locations. The businesses in the industry operate from showrooms with substantial areas for the presentation of their products.
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Furniture And Home Furnishings Stores Global Market Report 2022 from TBRC covers the following information:
Market Size Data
· Forecast period: Historical and Future
· By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
· By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
· By Type: Furniture Stores, Home Furnishings Stores
· By Ownership: Retail Chain, Independent Retailer
· By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store
· By Geography: The global furniture and home furnishings stores market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Inter Ikea Holding B.V., The home depot, Bed Bath & Beyond, Nitori Holdings Co. Ltd., Williams-Sonoma Inc., Steinhoff International Holdings N.V., Berkshire Hathaway Inc
Trends, opportunities, strategies and so much more.
Furniture And Home Furnishings Stores Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides furniture and home furnishings stores market analysis, furniture and home furnishings stores market forecast and in-depth furniture and home furnishings stores market research. The market report analyzes furniture and home furnishings stores market size, furniture and home furnishings stores market growth drivers, furniture and home furnishings stores market segments, furniture and home furnishings stores market major players, furniture and home furnishings stores global market growth across geographies, and furniture and home furnishings stores global market competitors’ revenues and market positioning. The furniture and home furnishings stores global market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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