Striking Growth Opportunities in the US furniture market, shift to online shopping, Advancement in logistics and easy to assemble furniture has attracted numerous companies with innovative solutions to the furniture industry in the US.
The report on The US Furniture Industry by Ken Research titled “The US Furniture Market by End Users (Home, Office, Hotels and Industrial), By Age Group (Millennials, Generation X, Baby Boomers, seniors (Child Care and Infant Care), By Distribution Channel (Departmental Stores, Lifestyle Stores, Exclusive Stores, Supermarkets and Online Distribution)– Outlook to 2021” suggests a steady growth in revenue for manufacturers, retailers as well as online players.
The US furniture market has witnessed a consolidation over the years. Major retailers have raised their market share over the period leaving little for other players. A considerable decrease in number of furniture stores can be witnessed over the years making way for E commerce platform, largely because of the improvement in the distribution network. The major online companies such as overstock.com, amazon and wayfair have witnessed a considerable increase in the market share when we compare the complete furniture space.
With respect to product segmentation, living room furniture and bedroom furniture accounted for most of the furniture spend. Most of the e-retailers are experiencing a high growth rate. Plenty of startups also offer customized designs and custom made furniture solutions which cater to the growing demand of US Consumers.
Mobile shopping has been a major thump which has benefited the e commerce segment. Young age population through their smart phones is shopping as per their convenience. A considerable rise in the mobile traffic has been witnessed along with an increase exhibited in the m commerce transactions.
Key Topics Covered in the Report
The US Furniture Retail Market
Number of Stores in the US
Online Furniture Sale in the US as a percentage of total sale.
Spend on the US Furniture
Retail Store Sale, Online Sale, Exclusive Store Sale
Revenue of Klaussner Furniture Industries
Sale of IKEA in the United States
Sale of Ashley Furniture Home Store in the US
Number of stores of Ethan Allen
Annual Growth of Major Companies
Forecasted growth of Furniture Industry
Market share of major players operating in the furniture industry
For more information on the market research report please refer to the below link:
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Ankur Gupta, Head Marketing & Communications