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Published on: Aug 2020 | From USD $2900 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 150
One of the key drivers of the market is improving the residential construction market. The real estate industry in the US is expected to drive the home furniture market for a few years. This may be due to the increasing number of people engaging in household formation.
Home furniture includes beds and mattresses, tables and tabletops, desks, chairs, storage cabinets, sofas, and other furniture. One of the important trends in the market is the growing demand for eco-friendly furniture. The idea of eco-friendly furniture was always prevalent. However, the market is facing some challenges such as shifting consumer trends and expectations, rising material costs, and skilled labor shortage.
Ecommerce is also fuelling the market growth and there are many e-commerce giants such as Amazon, Wayfair, and home depot which offer a wide range of furniture products from many key brands as a part of their product portfolio.
Key Market Trends
Living-room and Dining-room Furniture
The segment includes furniture found in living rooms, parlors, lounges, lobbies, and dining rooms. Although room design might differ between countries, this category includes sofas, chairs, coffee and dining tables, bookshelves, and other pieces of furniture for storage. Due to the growth in construction activity, people are increasingly spending more on furniture products such as living rooms and dining products.
Rising Consumer Expenditure on Furniture Products
With the increasing number of consumers shifting their preference towards quality and stylish furniture products due to higher disposable income and better lifestyle requirements, the furniture market in the United States is expected to witness stronger growth in terms of domestic furniture sales and international furniture exports. In 2018, the average expenditure per consumer unit on sofas was about140 U.S. dollars.
Competitive Landscape
The report covers major international players operating in the US Home Furniture Market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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1 INTRODUCTION
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Drivers
4.3 Restraints
4.4 Opportunities
4.5 Trends Influencing the US Home Furniture Market
4.6 Value Chain Analysis of the US Home Furniture Market
4.7 Millennials and the Housing Market
4.8 Porter's Five Forces Analysis
4.9 E-commerce Impact on the Market
4.10 Insights on Technological Innovations in the Market
4.11 Consumer Behavior Analysis
4.12 Insights on Impact of COVID-19 on the market
5 FUTURE OF THE US HOME FURNITURE MARKET
6 MARKET SEGMENTATION
6.1 By Product
6.1.1 Kitchen Furniture
6.1.2 Living and Bedroom Furniture
6.1.3 Bathroom Furniture
6.1.4 Outdoor Furniture
6.1.5 Other Furniture
6.2 By Distribution Channel
6.2.1 Home Centers
6.2.2 Flagship Stores
6.2.3 Specialty Stores
6.2.4 Online Stores
6.2.5 Other Distribution Channels
7 COMPETITIVE LANDSCAPE
7.1 Market Concentration Overview
7.2 Company Profiles
7.2.1 Retailers
7.2.1.1 Pier 1 Imports, Inc.
7.2.1.2 Bed Bath & Beyond Inc.
7.2.1.3 Rooms to Go Inc
7.2.1.4 Crate and Barrel
7.2.1.5 Wayfair Inc
7.2.2 Manufacturers
7.2.2.1 Ashley Furniture Store
7.2.2.2 American Signature, Inc
7.2.2.3 Williams-Sonoma, Inc
7.2.2.4 La-Z-Boy
7.2.2.5 Inter IKEA Holding SA
8 FUTURE OF THE US HOME FURNITURE MARKET
9 APPENDIX
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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