Global Furniture And Home Furnishings Stores Market Trends And Strategies Of Major Players In The Furniture And Home Furnishings Stores Market 2021-2030

1 Feb, 2021

The furniture and home furnishings stores market consists of sales of furniture and home furnishings by entities (organizations, sole traders and partnerships) that sell furniture and home furnishings and appliances to ultimate users from fixed point-of-sale locations. The businesses in the industry operate from showrooms with substantial areas for the presentation of their products.

Global Furniture And Home Furnishings Stores Market Size And Drivers:

The global furniture and home furnishings store market is expected to grow from $372.83 billion in 2020 to $404.7 billion in 2021 at a compound annual growth rate (CAGR) of 8.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $481.11 billion in 2025 at a CAGR of 4%. The rapid growth in retail data and the availability of technologies to analyze data will become easier for furniture and home furnishings stores to identify and meet the needs and expectations of their customers, thus it is expected to drive the market going forward.

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Trends In The Global Furniture And Home Furnishings Stores Market

Augmented reality (AR) and virtual reality (VR) empower the customer experience by letting them connect to the product with interactive and personalized options. While AR is a real-time integration of digital information with the user`s environment, VR is a three-dimensional, computer generated environment that can be explored and interacted with. This allows the customers to understand the experience of owning a product. Furniture and home furnishings companies should consider using virtual reality technology to enhance customer experience.

Global Furniture And Home Furnishings Stores Market Segments:

The global furniture and home furnishings stores market is further segmented based on type, ownership, type of store and geography.
By Type: Furniture Stores, Home Furnishings Stores.
By Ownership: Retail Chain, Independent Retailer.
By Type Of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store.
By Geography: The global furniture and home furnishings stores market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America was the largest region in the global furniture and home furnishings stores market, accounting for 34% of the total market.

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Furniture And Home Furnishings Stores Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides furniture and home furnishings stores market overviews, analyzes and forecasts market size and growth for the global furniture and home furnishings stores market, furniture and home furnishings stores market share, furniture and home furnishings stores market players, furniture and home furnishings stores market segments and geographies, furniture and home furnishings stores market’s leading competitors’ revenues, profiles and market shares. The furniture and home furnishings stores market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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