Living Room Furniture: market data & analysis

The living room is typically considered to be the most lively and main room in the home; thus, it comes as no surprise that the Living Room Furniture segment holds the largest market share of the Furniture market. In much of 2020 and the first half of 2021, there was a sharp increase in global living room furniture sales due to what can be referred to as the COVID-effect. As the majority of people spent more time at home and less time at the office and in social settings, the allocation of disposable income shifted from out-of-home to household spending, greatly benefiting the Living Room Furniture segment. One of the major trends that has been observed over the past few years is the increase in demand for dual-purpose living room furniture. This is due to the boom in small apartment construction. It is now easier than ever to find coffee tables and sofas with storage space, side tables that can be used for seating purposes, and modular shelving and bookcases that are customizable to the user's wishes. An increasing population and growing disposable income in developing countries are the key factors contributing to the continued growth in this segment. The rise in cost-of-living around the world, which can be attributed to wage growth not keeping up with inflation, put downward pressure on the Living Room Furniture segment’s growth throughout much of 2022. Many governments around the world have introduced measures to lower inflation, and we believe these steps will have a positive effect on the Living Room Furniture segment in 2023. Therefore, this segment can be expected to grow again in 2023. In the years to follow, we anticipate moderate growth, with developing countries leading the charge.

Overview

• Summary
• Market definition
• Key takeaways

• Revenue
• Average revenue per capita
• Company revenues
• Online revenue share
• Mobile/Desktop Split

• Product overview
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