Key regions: China, Germany, Brazil, France, United States
The Living Room Furniture market in Southern Europe has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.
Customer preferences: in the Living Room Furniture market have shifted towards more modern and contemporary styles. Customers in Southern Europe are increasingly looking for furniture that is sleek, minimalist, and functional. This preference for modern designs is driven by a desire for a clean and uncluttered living space, as well as a desire to keep up with global design trends. Additionally, there is a growing demand for furniture that is eco-friendly and sustainable, reflecting a broader societal shift towards more environmentally conscious consumption.
Trends in the market: have also played a role in the growth of the Living Room Furniture market in Southern Europe. One notable trend is the increasing popularity of online shopping. Customers are now able to browse and purchase furniture from the comfort of their own homes, which has led to a significant increase in online sales. This trend has been further accelerated by the covid-19 pandemic, as more people have turned to online shopping due to social distancing measures and lockdowns. Another trend is the rise of customization options. Customers are increasingly looking for furniture that is tailored to their specific needs and preferences, and companies are responding by offering a wide range of customization options, from choosing the color and fabric to selecting the size and configuration of the furniture.
Local special circumstances: have also influenced the development of the Living Room Furniture market in Southern Europe. One such circumstance is the high level of homeownership in the region. Southern Europeans have a strong preference for owning their own homes, which has led to a steady demand for furniture. Additionally, the region has a rich cultural heritage and a tradition of craftsmanship, which has resulted in a strong domestic furniture industry. Customers in Southern Europe often value locally made furniture for its quality and craftsmanship, and this has contributed to the growth of the domestic market.
Underlying macroeconomic factors: have also played a role in the development of the Living Room Furniture market in Southern Europe. The region has experienced a period of economic recovery in recent years, following the global financial crisis. As disposable incomes have increased, customers have been able to spend more on furniture and home decor. Additionally, low interest rates have made it easier for customers to finance large purchases, such as furniture. Finally, the growth of the tourism industry in Southern Europe has also had a positive impact on the Living Room Furniture market. The influx of tourists has led to an increase in demand for rental properties and vacation homes, which in turn has driven demand for furniture. In conclusion, the Living Room Furniture market in Southern Europe has experienced significant growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards modern and contemporary styles, the rise of online shopping, the demand for customization options, the high level of homeownership, the tradition of craftsmanship, the economic recovery, low interest rates, and the growth of the tourism industry have all contributed to the development 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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