In 2020 the furniture industry market trends

by:James Bond Furniture     2020-11-15

what is the market trend of furniture industry in 2020? Hotel furniture for you

after 30 years of development, industry of our country furniture furniture products is more and more rich, the product style is more and more diversified, the product competition has entered the era of brand competition. Domestic furniture consumption will be the development trend of 'polarization', is a very high-grade furniture consumption is, the other is the prevalence of parity furniture products.

the main trend in the furniture industry

as the new innovation and changing consumer preferences affect furniture needs, a few key industry trends. Continue reading to learn more information about the shape the main trend in the furniture industry.

during the recession as consumers cut discretionary spending, furniture retailing adversely affected, but now the demand increases. In fact, in recent years, American furniture has been more than the U. S. economy. Although the housing market improve, discretionary spending increases, but we will continue to see this kind of growth. By 2019, the global furniture and floor covering the market is expected to reach $695 billion.

1, the rise of telecommuting is driving demand for home office furniture.

- in 2008 The financial crisis of 2009 and 2011 - In 2012 during the European debt crisis, the increasing demand for home office and push for the computer, table, office chair and the increasing demand for filing cabinet. Consumers soon found their home office has a variety of purposes, they are usually more willing to buy can be covered when not in use of office equipment multi-functional furniture. Overall, 2014 - 2019 years, the global family office furniture market is expected to 5. The compound annual growth rate of 58% ( CAGR) Growth.

2。 Multi-functional, multi-purpose furniture has become more and more popular.

the number of single and double families have been on the rise, lead to the demand for small and portable furniture. Consumers also has been looking for multipurpose, but fold and technology-driven furniture, especially in a small space to live.

3。 Online is developing the fastest growing market channels.

American household goods stores industry includes about 15000 stores, the total annual income is about $27 billion. The industry is very concentrated, America's largest 50 stores account for 75% of the industry's revenues. However, competition is intensifying. Online store is becoming the fastest-growing channel, a compound annual growth rate of 16. 6%. Many companies are make more efforts to its online retail stores, for the online shopping consumer welfare, such as free delivery and installation, even on the day of the delivery.

4。 Demand for luxury furniture is increasing.

with the development of economy, more and more consumers are willing to buy luxury goods for living and working environment. In the global luxury furniture market is expected to more than 4% of the average annual compound growth rate of growth in 2015 to 19 years. In terms of geographical location, has the largest European luxury furniture market, but developing countries such as China and India is not far behind.

5。 More furniture supplier selection of green environmental protection.

with the emergence of luxury, the trend of the green is expanding many vendors are developing environmental protection furniture. This trend is caused by environmental problems, such as deforestation problem. Although environmental protection furniture price is more expensive, but the demand is increasing, so manufacturers and companies to provide these products are worth it.

small make up through the above introduction, believe everybody market trend of furniture industry in 2020 has had certain understanding and grasp some knowledge of the

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