Key regions: Canada, United Kingdom, Brazil, Germany, India
The Kitchen & Dining Furniture market in New Zealand has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: In New Zealand, customers have shown a growing preference for modern and minimalist kitchen and dining furniture designs. This trend is in line with global market preferences, as consumers seek sleek and contemporary furniture styles that can enhance the overall aesthetics of their homes. Additionally, there is a growing demand for furniture that is both functional and space-saving, as many New Zealanders live in smaller urban dwellings. As a result, there has been an increased interest in compact dining sets and multifunctional kitchen furniture.
Trends in the market: One of the key trends in the Kitchen & Dining Furniture market in New Zealand is the rising popularity of sustainable and eco-friendly furniture options. Consumers are becoming more conscious of the environmental impact of their purchases and are actively seeking out furniture made from sustainable materials such as bamboo or reclaimed wood. This trend is aligned with the global shift towards sustainable living and the growing awareness of climate change. Another trend in the market is the growing demand for online furniture shopping. With the convenience and accessibility of e-commerce platforms, more customers are opting to purchase kitchen and dining furniture online. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across various industries. As a result, retailers in New Zealand are investing in their online presence and enhancing their digital platforms to cater to the growing demand for online furniture shopping.
Local special circumstances: New Zealand's housing market has been experiencing significant growth in recent years, with an increase in new housing construction and renovations. This has contributed to the demand for kitchen and dining furniture as homeowners seek to furnish their new or renovated spaces. Additionally, the country's tourism industry has also been a significant driver of the Kitchen & Dining Furniture market, as the hospitality sector requires furniture for restaurants, cafes, and hotels.
Underlying macroeconomic factors: New Zealand has been experiencing steady economic growth, which has positively impacted the Kitchen & Dining Furniture market. With a strong economy and rising disposable incomes, consumers are more willing to invest in high-quality furniture for their homes. Furthermore, low interest rates have made it easier for consumers to access credit and finance their furniture purchases. In conclusion, the Kitchen & Dining Furniture market in New Zealand is growing due to changing customer preferences towards modern and minimalist designs, the rising demand for sustainable furniture options, the increasing popularity of online shopping, and the country's thriving housing and tourism industries. These trends, coupled with the country's strong economy and low interest rates, are driving 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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