Bedroom Furniture - Hong Kong

Hong Kong

Highlights

Revenue in the Bedroom Furniture Market is projected to reach US$77.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.38%, resulting in a projected market volume of US$126.50m by 2029.
With a projected market volume of US$23.02bn in 2024, most revenue is generated United States.
In the Bedroom Furniture Market, the number of users is expected to amount to 985.1k users by 2029.
User penetration will be 9.2% in 2024 and is expected to hit 13.4% by 2029.
The average revenue per user (ARPU) is expected to amount to US$114.90.

Key regions:

Definition:

The eCommerce Bedroom Furniture market is a sector of online retailing that specializes in furniture objects primarily made of wood and used in bedrooms, including beds and mattresses of different shapes and sizes, wardrobes and closets, nightstands, and dressers.

The purpose of eCommerce Bedroom Furniture is to provide consumers with an accessible and convenient way to purchase high-quality, stylish furniture for their bedrooms. This market allows customers to easily compare prices and styles from a range of brands and retailers, with the added convenience of home delivery.

The relevance of the eCommerce Bedroom Furniture market lies in its ability to cater to customers who are looking for comfortable and stylish furniture options for their bedrooms. With many people spending more time at home due to the COVID-19 pandemic, there has been a significant increase in demand for home furniture, including bedroom furniture.

Examples of successful eCommerce Bedroom Furniture businesses include Wayfair, which offers a wide range of furniture products, including bedroom furniture, and Ikea, which has a strong online presence and offers affordable, modern furniture options for customers. Other eCommerce retailers such as Amazon, Walmart, and Target also offer a variety of bedroom furniture products on their websites.

Structure:

The eCommerce market for Bedroom Furniture consists of four different markets:

The Beds market includes various types of beds, which are primarily used to ensure sleep comfort. Beds can also be a place to relax, where one can watch films or series while lying down. This segment includes beds of different shapes and sizes including full, queen, king, and single-sized beds, guest beds, beds with storage units, and bunk beds.
The Closets, Nightstands & Dressers market contains furniture pieces that are primarily found in the bedroom. It includes wooden furniture such as wardrobes, closets, chests, dressers, and nightstands. Closets and dressers are primarily used to store clothing. Meanwhile, nightstands are practical for storing items that people need before, during, or after sleeping, such as books, medicine, or a glass of water.
Mattresses are a very useful piece of furniture which ensure that sleeping is as comfortable as possible. They are typically made from soft materials, which provide high levels of comfort. This market includes spring, foam, and latex mattresses.
The Bedding market refers to the online retail sector that focuses on the sale of bedding products, including sheets, pillowcases, comforters, mattress toppers, and other related items.

Additional Information:

Bedroom Furniture comprises revenues, users, average revenue per user, and penetration rates. Revenues are derived from annual filings, national statistical offices, Google- and Alibaba-Trends, and industry knowledge. Sales Channels show online and offline revenue shares, as well as, desktop and mobile sales distribution. Revenues include VAT. The market only displays B2C revenues and users for the above-mentioned markets, hence C2C, B2B, and reCommerce is not included. Additional definitions can be found on each respective market page.

Key players in the market are companies like Amazon, JD, Homedepot, IKEA, Wayfair and Lowes.

Market numbers for the total market sizes (online + offline) can also be found on the respective pages of the Consumer Market Insights.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Data coverage:

Data refers to B2C enterprises. Figures are based on the sale of physical goods via a digital channel to a private end consumer. This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Statista Global Consumer Survey), data on shopping behavior (e.g., Google Trends, Alibaba Trends), and performance factors (e.g., user penetration, price/product). Furthermore, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration, and population. This data helps us 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, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, internet penetration, and population.

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. The impact of the Russia/Ukraine war is considered at a country-specific level.