The Outdoor Furniture market in Serbia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: in the Outdoor Furniture market in Serbia have shifted towards more durable and weather-resistant materials such as teak, aluminum, and synthetic rattan. This is due to the increasing demand for furniture that can withstand the harsh Serbian climate, including hot summers and cold winters. Customers are also looking for furniture that is easy to clean and maintain, as well as versatile and multi-functional to make the most of their outdoor spaces.
Trends in the market: include the growing popularity of outdoor dining sets, lounge chairs, and sun loungers. This can be attributed to the rising trend of outdoor entertaining and dining, as well as the desire for comfortable and stylish outdoor seating options. In addition, there is a growing demand for outdoor furniture with built-in storage solutions, allowing customers to maximize their outdoor space and keep their belongings organized.
Local special circumstances: in Serbia, such as the country's rich cultural heritage and natural beauty, have contributed to the development of the Outdoor Furniture market. The increasing number of tourists visiting Serbia has created a demand for high-quality outdoor furniture in hotels, resorts, and other hospitality establishments. Additionally, the growing popularity of outdoor events and festivals has led to an increased demand for outdoor furniture rentals.
Underlying macroeconomic factors: such as the improving economy and increasing disposable income levels, have also played a role in the development of the Outdoor Furniture market in Serbia. As the economy continues to grow, consumers have more purchasing power and are willing to invest in high-quality outdoor furniture to enhance their outdoor living spaces. Furthermore, the expanding middle class and urbanization trends have led to a higher demand for outdoor furniture among urban dwellers who have limited outdoor space but still want to enjoy the benefits of outdoor living. In conclusion, the Outdoor Furniture market in Serbia is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for durable and weather-resistant furniture, as well as versatile and multi-functional designs, is driving the market forward. Additionally, the country's rich cultural heritage, growing tourism industry, and improving economy are contributing 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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