Key regions: India, France, United States, Canada, Denmark
The Home Décor market in Northern Europe has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and minimalist designs, reflecting a global trend in the home décor market. Additionally, there are several local special circumstances that have contributed to the development of the market in this region.
Customer preferences: in Northern Europe have been leaning towards sleek and contemporary designs in home décor. This shift can be attributed to the influence of Scandinavian design, which is known for its clean lines and minimalist aesthetic. Customers in this region are increasingly seeking out furniture and accessories that are functional, yet stylish. This preference for modern designs has led to an increase in demand for products such as scandinavian-inspired furniture, minimalist lighting fixtures, and abstract art pieces. One of the key trends in the Home Décor market in Northern Europe is the emphasis on sustainability. Customers in this region are becoming more conscious of the environmental impact of their purchasing decisions and are seeking out eco-friendly and ethically sourced home décor products. This trend has led to an increase in demand for sustainable materials such as reclaimed wood, recycled plastic, and organic textiles. Additionally, there is a growing interest in upcycling and repurposing old furniture and accessories, as customers look for ways to reduce waste and create unique, personalized spaces. Another trend in the market is the rise of online shopping for home décor products. Northern Europe has a high internet penetration rate, and customers in this region are increasingly turning to online retailers to purchase home décor items. This shift towards online shopping has been further accelerated by the covid-19 pandemic, as customers have been unable or hesitant to visit physical stores. Online retailers are capitalizing on this trend by offering a wide range of products, competitive prices, and convenient delivery options. In addition to customer preferences and market trends, there are several
Local special circumstances: that have contributed to the development of the Home Décor market in Northern Europe. One such circumstance is the region's strong tradition of craftsmanship and design. Countries like Sweden, Denmark, and Finland have a long history of producing high-quality furniture and home accessories, and this reputation has helped to drive demand for their products both domestically and internationally. Furthermore, the relatively high disposable income and stable economy in Northern Europe have also played a role in the growth of the Home Décor market. Customers in this region have the financial means to invest in home improvement projects and are willing to spend on high-quality, durable products that will enhance their living spaces. Overall, the Home Décor market in Northern Europe is developing in response to customer preferences for modern and sustainable designs, as well as the convenience of online shopping. The region's strong tradition of craftsmanship and design, coupled with its stable economy and high disposable income, have also contributed to 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.
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