Furniture

Furniture - Laos

Laos

Highlights

Revenue in the Furniture Market is projected to reach US$16.52m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.76%, resulting in a projected market volume of US$27.54m by 2029.
With a projected market volume of US$125.00bn in 2024, most revenue is generated United States.
In the Furniture Market, the number of users is expected to amount to 532.8k users by 2029.
User penetration will be 4.4% in 2024 and is expected to hit 6.6% by 2029.
The average revenue per user (ARPU) is expected to amount to US$49.03.

Key regions:

Definition:

The eCommerce Furniture market is a sector of online retailing that focuses on selling furniture and home decor products through digital channels. The purpose of eCommerce Furniture is to provide consumers with a convenient and accessible way to purchase a wide range of furniture products, including sofas, beds, chairs, tables, and home decor items.

The relevance of the eCommerce Furniture market lies in its ability to offer consumers a vast selection of furniture products at competitive prices, with the added convenience of home delivery. It also enables brands and retailers to reach customers across different geographies and demographics, expanding their customer base and sales potential.

The eCommerce Furniture market has experienced significant growth in recent years, driven by factors such as the increasing popularity of online shopping, the rise of direct-to-consumer brands, and the COVID-19 pandemic, which has led to more time spent at home and an increased focus on home decor and improvement projects.

Examples of successful eCommerce Furniture businesses include Wayfair, which offers a wide range of furniture and home decor products, and Article, which specializes in mid-century modern and Scandinavian-inspired furniture. Additionally, online marketplaces like Amazon and Walmart have expanded their furniture offerings, providing consumers with more options for ordering furniture online.

Structure:

The eCommerce market for Furniture consists of seven different markets:

The Bedroom Furniture market includes the digital sales of 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 Home Décor market covers the digital sale of accessories and furnishings designed to make a space more aesthetically appealing, such as decorations, carpets & rugs, candles, and curtains & blinds.
The Home Office Furniture market comprises products that ensure a good working environment at home compared to that of a traditional office, which includes desks, chairs, bookcases and filing cabinets.
The Kitchen & Dining Furniture market comprises digital sales of various types of furniture designed for use in kitchens, including cabinets, countertops, islands, tables, chairs, and other kitchen-related furnishings.
The Lamps & Lighting market includes the digital sales of various types of lighting products for indoor and outdoor use, including lamps, chandeliers, pendant lights, sconces, ceiling fans, and other lighting fixtures.
The Living Room Furniture market contains digital sales of various types of furniture for the living room and dining room, including sofas, loveseats, sectionals, coffee tables, accent chairs, dining tables, and chairs.
The Outdoor Furniture market includes furniture that is specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.

Additional Information:

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 are including 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, and Wayfair.

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.