Australia Furniture Market Outlook Research Report : Ken Research

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The report titled “Australia Furniture Market Outlook to 2022 – By Residential (Bedroom, Living Room, Kitchen, Home Office Furniture, Dining Room, Storage Furniture and Other Residential Furniture), Hospitality and Commercial Furniture, by Home Furnishing (Indoor, Outdoor and Lighting)” provides a comprehensive analysis of the furniture market in Australia. The report focuses on the home furniture product segments of the industry. The report covers aspects such as market size in consumer expenditure, Australia furniture market segmentation by end users (Residential, Hospitality and Commercial), major cities (Sydney, Melbourne, Perth, Brisbane, Adelaide, Auburn, Gold Coast, New Castle and Canberra), by Organized and Unorganized sector, by home furnishing (Indoor, Outdoor and Lighting), by distribution channel (Homewares and Home Furnishing Stores, Home Improvement and Gardening Stores, Department Stores, Mass Merchandisers, Internet Retailing, Supermarkets, Variety Stores, Warehouse Clubs and others). The publication also includes competitive landscape, which discusses the major market players (Harvey Norman, Freedom, Fantastic, Nick Scali, IKEA, Pacific Furniture and Linen House) along their product portfolio. The reports also provides in depth case studies for setting up modular kitchen and home furniture in Australia. Furthermore, the report includes snapshot on the online furniture and used furniture market. The future analysis of overall Australia Furniture Market has also been discussed along with recommendations from analyst view.

This report will help the readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years.

The report is useful for furniture retailers, Used Furniture Companies, Modular Kitchen Companies, Contract Furniture Manufacturers, Online Furniture companies, investors, potential entrants and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

Australia Furniture Market Size and Overview

The furniture market of Australia witnessed growth at a CAGR of 3.0% during the period 2012-2017. Rise in number of furniture manufacturers and retail outlets largely contributed to the growth in market revenues. Furthermore, rise in urbanization generated increased demand for furniture from residential, hotels, office and industrial sectors during the period. Additionally, increasing awareness among the customers about online sales and e-commerce portals for furniture along with the expansion in services of e-retailers including Pottery Barn, Zanui and others has also been a significant factor which has positively impacted Australia furniture market during recent years.

Australia Furniture Market Segmentation

By End Users: Residential furniture therefore dominated the overall Australia furniture market in 2017, followed by commercial and hospitality sector. Retailers existing in the space catered to the varied requirements across all categories of end users. The growing number of urban household coupled with change in customer preference for stylish and modern furniture boosted the demand for residential furniture. Growing demand for housing structures was the major reason behind the augmented demand for furniture in the country.

By Product Categories in Home Furniture: There has been a rapid growth in real estate sector due to the demand for residential property in the country. Bedroom furniture was the highest selling product category in home furniture segment as of 2017, followed by living room furniture, kitchen furniture, home office furniture, dining room furniture, storage furniture and all other residential furniture.

By Organized and Unorganized Sector: Unorganized sector dominated the market, in terms of large number of unorganized manufacturers operated in the country in 2017. Lower cost of production by using the locally available resources assists unorganized retailers in selling products at a lower price than the one sold by established companies with multiple retail outlets in Australia.The increasing demand for the branded products among the customers due to rising income level has led to the growth of organized retailers in the country.

By Type of Office Furniture: Workstation furniture dominated the office furniture market on the basis of consumer expenditure followed by office chair, office table and office storage. Office/ Commercial furniture space is governed by players specializing in designing, manufacturing and supplying modular furniture for schools, government institutions, offices, and aged care. Major companies involved in office furniture are DDK Commercial Furniture, BFX Australia, IKEA, Etsy Australia, Buy direct online, Workspace Australia, Burgtec, Woods furniture Australia, House of Home Australia, Kmart and others.

Snapshot on Australia Online Furniture Market

Sales for furniture in Australia have been dominated by offline retail outlets, franchisee outlets, showrooms and exclusive stores of manufacturers and major players operating in the space. Despite of the presence of approximately 20.67 million internet users i.e. a penetration rate of over 85.1% in the country during 2016, online sales of furniture contributed poorly to the overall market revenues during the same year. Online players faced stiff competition from brick and mortar stores all across the country, which offered a wide variety of products at competitive prices. Most of the companies selling via online channel had at least one offline store and are yet to register significant traffic and product orders through online in the country. The major players which have dominated the revenues of online furniture sales in 2016 are Brosa, Fantastic Furniture, Pottery Barn, Zanui and others.

Competitive Landscape

The top 7 leading home furniture and furnishing players are Harvey Norman, Freedom Furniture, Fantastic Holdings, Nick Scali, IKEA, Pacific Furniture and Bedding and Linen House which holds the largest market share. The companies compete on the basis of product spread, price range, number of stores, geographical locations, best selling product. Companies are focusing on increasing their number of stores as they want to reach out maximum potential customers and increase the walk-ins in their stores. Companies are focusing on extending their leadership positions that can be connected to customers at anytime and anywhere and increase customer experience

Australia Furniture Market Future Outlook and Projections

The furniture market is expected to grow at an impressive rate during 2018-2022. Rise in domestic as well export demand of furniture products is anticipated to result in market growth. Since tourism based enterprises such as hotels, restaurants, museums and leisure service providers face growing needs to update their amenities; the demand for unique furniture items is expected to rise sharply. Apart from the robust hotel sector, construction of more condominiums and residential houses in the country is expected to drive the growth of the industry in the coming years. Opening of more number of stores by companies in different locations and increase in the product listing will also drive the growth of the furniture market.

For more information about the publication, refer to below link:

https://www.kenresearch.com/consumer-products-and-retail/home-and-office-furnishings/australia-furniture-market/149484-95.html

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