Key regions: India, France, United States, Canada, Denmark
The Home Décor market in CIS is experiencing significant growth and development. Customer preferences for home décor products are evolving, and there are several trends driving this market. Additionally, there are local special circumstances and underlying macroeconomic factors that contribute to the growth of the Home Décor market in CIS.
Customer preferences: In recent years, there has been a shift in customer preferences towards more modern and contemporary home décor styles. Customers are increasingly looking for sleek and minimalist designs that create a sense of space and openness in their homes. This preference for modern styles is driven by the influence of global design trends and the desire for a more cosmopolitan and sophisticated living environment.
Trends in the market: One of the key trends in the Home Décor market in CIS is the increasing demand for eco-friendly and sustainable products. Customers are becoming more conscious of the environmental impact of their purchasing decisions and are seeking products that are made from natural and renewable materials. This trend is driven by a growing awareness of climate change and the desire to reduce carbon footprints. Another trend in the market is the rise of online shopping for home décor products. Customers are increasingly turning to online platforms to browse and purchase home décor items. This trend is driven by the convenience and wide product selection offered by online retailers. Additionally, the COVID-19 pandemic has accelerated the adoption of online shopping as customers prefer to avoid crowded physical stores.
Local special circumstances: The Home Décor market in CIS is also influenced by local special circumstances. One such circumstance is the rich cultural heritage and craftsmanship in the region. Customers in CIS have a strong appreciation for traditional and handmade home décor items. This preference for artisanal products adds a unique touch to the market and creates opportunities for local artisans and craftsmen.
Underlying macroeconomic factors: The growth of the Home Décor market in CIS is supported by several underlying macroeconomic factors. One such factor is the increasing disposable income of the population. As the economy in CIS countries continues to grow, customers have more purchasing power and are willing to spend on home décor products to enhance their living spaces. Another factor is the growing urbanization in CIS countries. As more people move to cities, there is a greater demand for home décor products to furnish and decorate urban apartments and houses. This trend is driven by the desire for a comfortable and stylish living environment in urban areas. In conclusion, the Home Décor market in CIS is experiencing growth and development due to evolving customer preferences, trends such as eco-friendly products and online shopping, local special circumstances like a preference for artisanal products, and underlying macroeconomic factors including increasing disposable income and urbanization. These factors contribute to the vibrant and expanding Home Décor market in CIS.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
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