Furniture retail sales South Korea 2015-2023

In 2023, the retail sales value of furniture amounted to over 10.26 trillion South Korean won. This is a decrease compared to the previous year, when around 10.66 trillion worth of furniture was sold. Despite this seemingly stopped upward trend, the remodeling and interior market has been expected to grow majorly until 2030.

Shopping for furniture online

As with all things shopping, furniture shoppers also enjoy the comfort of online commerce. As of the third quarter of 2022, more than half of all furniture sales were made using the internet. In all online sales, furniture and appliances accounted for 14 percent of sales. Consumers do not only use the internet to do their shopping. Oftentimes they get inspiration for home designs on social media, specifically from posts with furniture-related hashtags or furniture mobile apps.

How much do South Koreans spend on furniture?

 In 2023, South Korean consumers spend on average more than 18,800 South Korean won on furniture and lighting equipment. Just two years ago, during the height of the COVID-19 pandemic, monthly spending on furniture reached a peak. As people spent more time at home during that time, their interest in remodeling and decorating their homes grew. This trend is still evident in the maintained increase in monthly spending on interior decoration.