Key regions: India, France, United States, Canada, Denmark
The Home Décor market in Sri Lanka is experiencing significant growth and development in recent years. Customer preferences in Sri Lanka are shifting towards more modern and stylish home décor options. Customers are increasingly looking for unique and personalized items to decorate their homes. This trend is driven by the growing middle class in the country, who have more disposable income to spend on home décor. Additionally, the influence of social media and online platforms has made it easier for customers to access a wide range of home décor options and get inspiration for their own homes. Trends in the market include the increased demand for eco-friendly and sustainable home décor products. Customers in Sri Lanka are becoming more conscious of the environmental impact of their purchases and are seeking out products that are made from recycled or natural 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 for home décor products. Customers in Sri Lanka are increasingly turning to online platforms to purchase home décor items, as it offers convenience and a wider range of options. Online retailers are also offering competitive prices and discounts, making it an attractive option for customers. Local special circumstances in Sri Lanka that are contributing to the development of the home décor market include the growing urbanization and modernization of the country. As more people move to cities and adopt a more modern lifestyle, the demand for stylish and contemporary home décor products is increasing. Additionally, the tourism industry in Sri Lanka is booming, with more tourists visiting the country each year. This has created a demand for unique and locally-made home décor items that can serve as souvenirs for tourists. Underlying macroeconomic factors that are driving the growth of the home décor market in Sri Lanka include the stable economic growth and increasing disposable income in the country. The Sri Lankan economy has been growing steadily in recent years, leading to an increase in purchasing power among consumers. This has resulted in higher consumer spending on home décor products. Additionally, the government has implemented policies to promote the growth of the construction industry, which has also contributed to the demand for home décor items. Overall, the Home Décor market in Sri Lanka is experiencing significant growth and development, driven by changing
Customer preferences: global trends,
Local special circumstances: and
Underlying macroeconomic factors:. The market is expected to continue growing in the coming years, as customers continue to seek out unique and stylish home décor options.
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)
