Continued progress in constructing development and rising disposable earnings ranges have boosted the demand for furnishings within the U.S. in recent times.
The U.S. demand for furnishings is anticipated to succeed in $67.7 billion in 2025, rising at an annual progress fee of two.7% from $59.3 billion in 2020, in keeping with the report Furnishings: United States by Freedonia Focus Experiences, a division of MarketResearch.com.
The report highlights a wide range of influential furnishings traits to look at, from the influence of COVID-19 to the rise of e-commerce.
1. The Impression of COVID-19 on the Furnishings Market
The demand for furnishings dropped in 2020 as workplaces, colleges, and eating places briefly closed to restrict the unfold of COVID-19. On this unsure financial atmosphere, corporations moved to preserve money and slash overhead bills, which additionally lowered enterprise and institutional furnishings demand.
Nonetheless, whereas many distant employees had been caught at dwelling, they purchased furnishings for his or her dwelling workplaces and to revamp their dwelling areas, which helped to minimize declines. As well as, the outside furnishings market grew as extra social actions shifted exterior.
2. The Development of On-line Furnishings Gross sales
The COVID-19 pandemic additionally accelerated furnishings e-commerce. Within the early phases of the pandemic, non-essential companies closed, and lots of shoppers shopped by means of on-line retailers like Wayfair and Amazon to keep away from publicity to COVID-19. In response, main furnishings producers arrange on-line presences, both in-house or by means of acquisition.
However even earlier than COVID, the rise of e-commerce within the furnishings trade had already been underway for years. As a part of the “Amazon impact,” the retail market shifted more and more on-line by means of in style websites like Overstock.com and Joss & Maine.
Youthful shoppers, reminiscent of millennials, are extra prepared to purchase gadgets on-line due to the comfort, even when they’ll’t see and really feel the merchandise forward of time. A wide range of new direct-to-consumer furnishings corporations goal on-line millennial buyers, together with Yardbird, BenchMade Trendy, Burrow, Article, and Joybird (which was acquired by La-Z-Boy).
Projections cited within the report E-Commerce: United States anticipate furnishings and furnishings to be the fastest-growing section of e-commerce gross sales by means of 2022.
3. Elevated Curiosity in Eco-Pleasant Furnishings
Sustainability has develop into an necessary matter in many alternative industries, and furnishings is not any exception.
Furnishings producers have been influenced by enterprise and shopper curiosity in inexperienced merchandise and an elevated give attention to sustainability. To scale back environmental influence, furnishings may be made with recycled supplies or extra sustainable woods reminiscent of acacia, bamboo, or reclaimed wooden.
Some well-known furnishings manufacturers supply product strains that promote sustainability. For instance, Pottery Barn presents reclaimed wooden furnishings made with salvaged supplies, and Crate & Barrel sells furnishings with frames which can be licensed by the Forest Stewardship Council.
4. Extra Versatile Workspaces
As distant work has develop into extra widespread and expertise has developed, staff are not tethered to their desks, and office designs and workplace furnishings have modified considerably as properly.
Cubicles and personal workplaces have given approach to workplace environments with versatile workspaces the place staff can work in teams of various sizes, and in some instances, use workstations reasonably than have assigned seats. Such a association can assist accommodate a fluctuating workforce that features an growing variety of distant employees who could solely come into the workplace often or when there are necessary conferences to attend.
For instance, the Locale line of furnishings by Herman Miller offers workbases that function anchoring factors and cell parts that permit folks to maneuver from particular person work to collaborative actions as wanted.
5. Weight problems and the Want for Bigger Furnishings
The necessity for versatile workspaces isn’t the one issue altering workplace furnishings designs. Weight problems is one other issue that companies should take into accout.
About 40% of U.S. adults are overweight, up from 15% in 1990. These rising weight problems ranges have had an influence on furnishings design, notably for workplace chairs, as companies try to accommodate bigger physique sizes in each dimension and weight.
The everyday workplace chair is designed to carry as much as 300 kilos, whereas bariatric chairs can maintain as a lot as 600 kilos. Bariatric chairs are sometimes made with taller chair backs and wider seats and bases.
The place to Study Extra
For extra furnishings market information and evaluation, see the next Focus Experiences, which function a user-friendly format with concise textual content and useful information visualizations:
These experiences should not solely fast to learn, however they’re additionally based mostly on sturdy methodologies and supply a nuanced perspective that solely skilled knowledgeable analysts can present.
About Freedonia Focus Experiences
Revealed in 20-30 pages, Freedonia Focus Experiences present recent, unbiased evaluation on all kinds of markets and industries.
Evaluation is meant to information the busy reader by means of pertinent subjects in speedy succession, together with:
- whole historic market dimension and trade output
- segmentation by merchandise and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the availability base
- urged assets for additional research
Flick through the most recent Focus Experiences on MarketResearch.com.
In regards to the Writer: Sarah Schmidt is a Managing Editor at MarketResearch.com, a number one supplier of world market intelligence services.
