Key regions: India, France, United States, Canada, Denmark
The Home Décor market in Lebanon has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and contemporary styles, with a focus on quality and unique designs. This trend is driven by the increasing disposable income of Lebanese consumers, as well as their growing interest in home improvement and interior design.
Customer preferences: Lebanese consumers are increasingly looking to personalize their living spaces and create a unique and stylish home environment. They are seeking out home décor items that reflect their individual tastes and personalities. As a result, there is a growing demand for custom-made furniture, handmade decorative pieces, and high-quality materials.
Trends in the market: One of the key trends in the Home Décor market in Lebanon is the rise of sustainable and eco-friendly products. Lebanese consumers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking out products that are made from natural and recycled materials. This trend is also influenced by the global movement towards sustainability and the increasing awareness of climate change. Another trend in the market is the growing popularity of online shopping. Lebanese consumers are increasingly turning to e-commerce platforms to purchase home décor items. This trend is driven by the convenience and wider product selection offered by online retailers. Additionally, the COVID-19 pandemic has accelerated the adoption of online shopping as consumers sought to avoid crowded stores and minimize physical contact.
Local special circumstances: Lebanon's rich cultural heritage and diverse design influences contribute to the unique offerings in the Home Décor market. Lebanese consumers appreciate the craftsmanship and intricate details of traditional Lebanese designs, as well as the fusion of modern and traditional elements. This has led to the emergence of local artisans and designers who create one-of-a-kind home décor items that showcase the country's heritage.
Underlying macroeconomic factors: The growth of the Home Décor market in Lebanon is supported by several macroeconomic factors. Firstly, Lebanon has a relatively high per capita income compared to other countries in the region, which allows consumers to allocate a larger portion of their income towards home improvement and interior design. Additionally, the availability of affordable financing options, such as installment plans and credit cards, makes it easier for consumers to make larger purchases in the home décor sector. Furthermore, the tourism industry plays a significant role in driving the Home Décor market in Lebanon. The country's rich history and cultural attractions attract a large number of tourists, who often purchase local home décor items as souvenirs. The influx of tourists not only increases the demand for home décor products but also promotes the exposure of Lebanese designs to a global audience. In conclusion, the Home Décor market in Lebanon is experiencing growth due to changing customer preferences, including a shift towards modern and sustainable designs. The rise of online shopping and the country's unique cultural heritage also contribute to the market's development. The underlying macroeconomic factors, such as the high per capita income and the influence of the tourism industry, further support the growth of the market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
