When it comes to retail e-commerce, furniture is known to be one of the fastest-growing segments in today's world. One of the reasons behind that is, more and more consumers are becoming inclined towards purchasing multi-purpose, new technology-driven, and foldable furniture. Gone are the days when people used to buy conventional furniture. And people are making these purchases through online websites because of the comfort it has to offer. Not to mention the heavy discounts and plenty of types and designs to choose from.
Whether you buy beds, kitchen furniture, TV stands, wall art, or anything else, compared to offline shops, these online stores usually provide customers with a good amount of discount. Apart from that, you also get delivery and installation services at your doorstep.
FURNITURE MARKET FOR THE HOUSES AND OFFICES RISING AT A FAST PACE
Furniture is a necessity, just like food and clothing. We all need furniture in our homes and offices. And since we all spend most of our time at home and office, we need furniture that is not only useful but also comfortable. Therefore, marketing is growing at a fast pace.
As per the New York, United States (GlOBE NEWSWIRE), the online furniture market is growing at a fast pace. The market is expected to grow at a CAGR (Compound annual growth rate) of around 20% and we are here talking about the forecast period from the year 2021 to the end of 2026.
Talking about the factors the market is driven by, it’s the rising penetration of smartphones and a significant increase in online shopping in recent years. The convenience of buying furniture online is something that is majorly rising the growth of the online furniture industry. Consumers are getting the hang of ordering their furniture online and will continue to do so in greater numbers. Also, manufacturers are also increasing capacity and delivery times are reduced.
Furniture manufacturers are collaborating with e-commerce companies in order to send products directly to their customers online because they can then reach a wider market through this channel, attracting more customers. It’s one of the reasons why a wide array of furniture items is being sold in the online world.
The global online-based furniture market was valued at USD 81,702 million in 2018 and is projected to reach greater heights. Talking about the compound annual growth rate, it's 20.2%.
So these were quite a few things you needed to know about the growing market of online furniture. Hope the information helps you out. However, there are plenty of more things to talk about as well, but it can take way too much to be covered here.
In case you are someone who is also looking forward to buying the furniture online, then you should definitely bring Stylishhomes.ie into consideration. It's your best one-stop shop from where you buy furniture made up of the highest quality at affordable rates. Whether it's a king size mattress you are looking for, or the furniture for your kitchen and living room, feel free to head to their website and place your order today. https://stylishhome.ie/