What you need to know
Furniture retailing is a multibillion-dollar industry with consumer expenditures set to rise to $107.6 billion this year, and keep on going from there through at least 2021. Furniture sales ebb and flow based on the strength of the housing market and DIY markets, and at present, both are revitalized. Current economic conditions should also positively impact the market given that furniture buying is mostly discretionary and spending typically aligns with other factors such as higher confidence and lower unemployment.
Nearly three quarters of purchases are conducted in the store where shoppers can personally experience products. However, growth is coming from online (35% purchased furniture online) despite many consumers remaining reluctant to buy furniture using this method. Key targets are adults under 44 with income levels of at least $75K+. Hispanics, Asians, and Men are all sub-targets that should be central to any marketing plan.
Definition
This report focuses on the furniture market and how consumers shop the category. It offers sales trends, a snapshot of recent initiatives from key furniture retail players in the US market, as well as a detailed exploration of consumers’ attitudes, usage and shopping behaviors in this category. The following furniture categories are included in this report:
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Upholstered furniture
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Sleep equipment, including mattresses, springs, cots, waterbeds, etc.
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Sleep sofas, daybeds, futons, and other dual-purpose pieces
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Living room, dining room, and bedroom furniture (excluding mattresses/sleep equipment and sleep sofas/other dual-purpose pieces)
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Office furniture, including computer-related furniture
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Outdoor/patio furniture (also covered in Mintel’s Patio and Outdoor Living – US, July 2016)
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All other furniture including kitchen, dinette, etc.
Although infant/children's furniture is covered by the market size, it is not discussed in this report as it is covered in Mintel’s Baby Durables – US, April 2016.
This report builds on the analysis presented in Mintel's Furniture Retailing – US, July 2014, August 2012 and Mintel’s Home Furniture – US, October 2011.
