Furniture Stores in the US - Industry Market Research Report

Furniture Stores in the US - Industry Market Research Report

  • August 2020 •
  • 53 pages •
  • Report ID: 4640180 •
  • Format: PDF
Sit a spell: Rebounding disposable income is expected to drive furniture purchases

Abstract

Furniture Stores in the US
The Furniture Stores industry is expected to grow over the five years to 2019. Rising consumer sentiment and discretionary spending encouraged individuals to ramp up purchases of big-ticket home goods, including furniture. Additionally, slightly increasing homeownership rates and growing consumer spending have spurred industry product sales. The industry is highly fragmented, with no single company controlling a commanding market share. As a result, companies engage in price-based competition within the industry. However, most operators are either small, privately run businesses with fewer than four employees or nonemployers. Higher disposable income are expected to help drive some furniture purchases over the five years to 2024. Furthermore, stabilizing homeownership rates will likely encourage consumers to purchase more furniture to outfit homes initially. At the same time, industry competition from other outlets, such as department stores, mass merchandisers and online retailers, is projected to continue growing.

Operators in this industry primarily sell household, outdoor and office furniture, except those sold combined with office supplies and equipment. This industry predominantly markets and retails living room, dining room and bedroom furniture, upholstered and otherwise. Desks and home office goods, lamps, recliners, rugs and outdoor furniture make up the rest of sales.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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