Home Furnishing Statistics, Trends And Facts 2023

Home Furnishing Market Size and Growth

Metric	Value	Timeframe
Global home decor market CAGR	3.9%	by 2027
Asia Pacific market CAGR	3.2%	by 2027
US home decor market size	$158.9 billion	by 2027
US home decor market CAGR	8%	2020-2027
Online home decor market CAGR	13%	2020-2024
Home decor industry growth	2.7%	2021
Home decor market size	$202 billion	by 2024
Data importance to marketers	79%	N/A
Luxury furniture market CAGR	4.7%	by 2026
Ecommerce market share of home furnishings in US	10.86%	by 2025
Home Furnishing Wholesaling industry size growth rate	Decline	N/A
Home Furnishing Wholesaling industry decline rate	2.6% per year on average	2017-2023
North America market share of home decor revenue	37.7%	in 2018
Global home decor market size	USD 737.20 billion	by 2020
Global home decor market CAGR	6.6%	2019-2025
North America market share of home decor	37.5%	in 2019
China home furnishing market CAGR	3.7%	by 2027
US online home furnishing industry CAGR	4%	forecast period
US online home furnishing industry growth rate	7.6%	N/A
Floor covering sector growth rate	8.4%	forecast period

Metric	Value	Timeframe
Ecommerce sales of furnishing and home decor in US	$61.21 million	by 2025
Ecommerce share of total retail sales in US	10.7%	in 2019
Global visits to home decor industry in January 2020	1.56 billion	N/A
Worldwide traffic increase for home decor platforms	7%	Jan-Mar 2020
Increase in advertiser adoption of Pinterest Analysis	100%	by end of 2021
Brick and mortar market share of homeware and home furnishing sales	Walmart: 11%, Target: 7%, HomeGoods: 7%, Bed Bath & Beyond: 5%, Amazon: 5%, Lowe’s: 5%, The Home Depot: 5%	N/A
Wayfair and Amazon share of online furniture sales	63%	N/A
Monthly home furniture sales growth rate	79.1% (Apr to May 2020), 37.4% (May to Jun 2020)	N/A
British men who believe they have a better sense of style than their significant other	47%	N/A

1. The global home furnishings market is expected to reach $838.6 billion by 2027 (source: Grand View Research).
2. In 2020, the North American home furnishings market was valued at $118.5 billion (source: Statista).
3. By 2025, it is estimated that the global home furnishings market will be worth $1.15 trillion (source: Mordor Intelligence).
4. The online home furnishings market is expected to grow at a CAGR of 16.6% from 2020 to 2025 (source: ResearchAndMarkets).

Home Furnishing Market Segments

1. The furniture segment is the largest segment of the home furnishings market, accounting for 65% of the market in 2020 (source: Statista).
2. The home textile segment is the second-largest segment of the home furnishings market, accounting for 25% of the market in 2020 (source: Statista).
3. The lighting segment is the third-largest segment of the home furnishings market, accounting for 10% of the market in 2020 (source: Statista).
4. Other segments of the home furnishings market include home decor, kitchen and dining products, and outdoor and garden products.

Home Furnishing Geographical Distribution

1. In 2020, the North American home furnishings market was the largest market in the world, accounting for 37% of the global market (source: Statista).
2. The Asia-Pacific region is expected to have the highest growth rate in the home furnishings market between 2020 and 2027 (source: Grand View Research).

Home Furnishing Consumer Trends

1. In a survey of 1,000 Americans, 72% reported that they had purchased home furnishings online (source: First Insight).
2. The increasing demand for sustainable and eco-friendly products is driving the growth of the home furnishings market (source: Grand View Research).
3. The COVID-19 pandemic has accelerated the growth of the online home furnishings market as consumers increasingly opt for online shopping options (source: ResearchAndMarkets).

Home Furnishing Industry Trends

1. The home furnishings industry is becoming increasingly competitive, with many established players and new entrants.
2. The biggest challenge facing the home furnishings industry is ensuring product quality and safety during transportation and storage.
3. To overcome these challenges, companies are investing in technologies such as blockchain and IoT to improve supply chain visibility and traceability.

Home Furnishing Market Leaders

1. The largest home furnishings companies in terms of revenue are IKEA, Ashley Furniture Industries, and Williams-Sonoma.
2. Other major players in the home furnishings market include Wayfair, Bed Bath & Beyond, and Home Depot.

Home Furnishing Supply Chain Management

1. Supply chain management is a critical component of the home furnishings industry, as companies must manage the transportation, storage, and distribution of their products.
2. Technologies such as RFID and GPS are becoming increasingly important in the home furnishings industry, as they enable companies to improve supply chain visibility and traceability.

Home Furnishing Operational Efficiency

1. Operational efficiency is a key driver of success in the home furnishings industry, as companies must manage their supply chain and distribution operations effectively.
2. Technologies such as AI and automation are becoming increasingly important in the home furnishings industry, as they enable companies to improve their operational efficiency and reduce costs.

Home Furnishing Technological Advancements

1. The home furnishings industry is investing in a range of technologies to improve supply chain management, operational efficiency, and customer service.
2. Some of the key technologies being used in the industry include blockchain, IoT, AI, and automation.

Home Furnishing Retailer Benefits

1. Retailers benefit from the home furnishings industry by offering a wide range of products to their customers and by improving their customer service levels.
2. This approach also enables retailers to offer a wider range of products to their customers without having to manage a large inventory.

Home Furnishing Customer Benefits

1. Customers benefit from the home furnishings industry by having access to a wide range of products and more convenient delivery options.
2. This approach also enables customers to receive personalized recommendations based on their purchase history and preferences.

Home Furnishing Productivity

1. The home furnishings industry can improve productivity by reducing the amount of time and resources required to manage the supply chain.
2. This approach also enables companies to focus on their core competencies rather than having to manage logistics and transportation.

Home Furnishing Data Analytics

1. The home furnishings industry generates a large amount of data, which can be analyzed to identify trends and patterns in consumer behavior and preferences.
2. This data can also be used to improve supply chain efficiency and optimize inventory levels.

Home Furnishing Regulatory Compliance

1. The home furnishings industry is subject to various regulations related to product safety, transportation, and environmental sustainability.
2. To comply with these regulations, companies must invest in technologies and processes that ensure product quality and safety.

Home Furnishing Environmental Impact

1. The home furnishings industry can have a positive impact on the environment by reducing transportation emissions and minimizing waste.
2. Companies can further reduce their environmental impact by using sustainable materials and optimizing their distribution routes.

Home Furnishing Competitive Advantage

1. The home furnishings industry can provide a competitive advantage by enabling companies to offer more personalized service and a wider range of products.
2. This approach can also help companies differentiate themselves from their competitors by offering a more convenient and personalized shopping experience.

Home Furnishing Customer Loyalty

1. The home furnishings industry can improve customer loyalty by providing a more personalized and convenient shopping experience.
2. This approach can also help companies build stronger relationships with their customers by offering customized product recommendations and promotions.