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Key regions: Worldwide, United States, China, India, Germany
The Furniture market in Southern Europe has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: in the Furniture market have shifted towards more modern and contemporary designs, as well as a greater emphasis on functionality and space-saving solutions. Consumers are increasingly looking for furniture that can adapt to smaller living spaces and provide multifunctional uses. This trend is driven by urbanization and the rising cost of housing in many Southern European countries. Additionally, there is a growing demand for sustainable and eco-friendly furniture, as consumers become more conscious of the environmental impact of their purchases. One of the key trends in the Furniture market in Southern Europe is the increasing popularity of online shopping. e-commerce has become a preferred channel for consumers to purchase furniture, offering convenience, a wider range of options, and competitive pricing. This trend has been accelerated by the covid-19 pandemic, as more people turned to online shopping during lockdowns and restrictions. As a result, traditional brick-and-mortar stores are facing challenges and are adapting their strategies to include online platforms. Another trend in the Furniture market is the rise of customization and personalization. Consumers are seeking unique and personalized furniture pieces that reflect their individual style and taste. This trend is driving the demand for customizable furniture options, where customers can choose the materials, colors, and finishes of their furniture. This trend is also influenced by the growing popularity of interior design and home renovation shows, which inspire consumers to create their own personalized living spaces.
Local special circumstances: also play a role in shaping the Furniture market in Southern Europe. For example, countries like Italy and Spain have a rich heritage in furniture craftsmanship and design, which gives them a competitive advantage in the market. These countries are known for their high-quality and luxurious furniture products, attracting both domestic and international customers. Additionally, Southern European countries have a strong tradition of family-owned furniture businesses, which often prioritize craftsmanship and attention to detail. Underlying macroeconomic factors also contribute to the development of the Furniture market in Southern Europe. Economic growth, rising disposable incomes, and low interest rates have increased consumer spending power, leading to higher demand for furniture products. Furthermore, government initiatives and incentives to promote the housing market and home renovations have also stimulated the Furniture market. For example, tax incentives for home improvements and renovations encourage consumers to invest in new furniture. In conclusion, the Furniture market in Southern Europe is experiencing growth due to changing customer preferences, emerging trends such as online shopping and customization, local special circumstances, and
Underlying macroeconomic factors:. The market is expected to continue to evolve and adapt to meet the evolving needs and preferences of consumers in the region.
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)