The
global online furniture market is expected to grow by USD 84.26 billion
during 2020-2024, according to the latest market research report by Technavio.
The changing trends in the home and living concepts are transforming the
buying patterns of customers. As a result, many individuals are making
investments in the remodeling of their bedrooms. Their preferences are
influenced by the increasing access to blogs, and homestyle, lifestyle, and
fashion magazines. For instance, a real-time engagement program, IKEA’s Home
Tour Squad, provides solutions and home makeover tips to their customers. This
is leading to an increase in the purchase of customized furniture of different
size, materials, and colors to add value to the ambiance of a place and provide
comfort. For instance, Fursys offers customized office furniture that comes
with additional lumbar support. Thus, the evolving home and living concept will
boost the growth of the online furniture market during the forecast period.
As per Technavio, the mobile commerce and network marketing will have a
positive impact on the market and contribute to its growth significantly over
the forecast period. This research report also analyzes other significant
trends and market drivers that will influence market growth over 2020-2024.
Online Furniture Market: Mobile Commerce and Network Marketing
The emergence of new opportunities for customers to shop through network
marketing and increasing purchase volume of new mobile devices has increased
the significance of mobile commerce. Flipkart, Snapdeal, Alibaba, and Amazon
are some of the major retailers that maintain their own mobile applications.
These factors are boosting the online purchase of various commodities including
furniture such as chairs, workstations, storage files, tables and desks. The
trend for online shopping of furniture will continue to evolve due to the
availability of 24/7 customer support, online shipment tracking, cheaper costs,
and a wide range of merchandise. Thus, with the growing trend for mobile
commerce and network marketing, the market for online furniture is expected to
showcase a positive outlook during the forecast period.
Online Furniture Market: Segmentation Analysis
This market research report segments the online furniture market by
application (online residential furniture and online commercial furniture) and
geographic segmentation (North America, APAC, Europe, South America, and MEA).
The APAC region led the online furniture market in 2019, followed by
North America, Europe, South America, and MEA. During the forecast period, the
APAC region is expected to register the highest incremental growth due to
factors such as the increasing demand for furniture supplies and growth in
purchasing power.
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challenges, trends, and more. Request a free sample report
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