Global Online Home-Décor Market Overview:
Home decor is an exciting activity for those who have recently purchased homes. Home decor can be divided into the household furniture, furnishings, and other decorative items such as lamps, artifacts, clay pots, and candles. The online sale of home accessories has gained momentum in recent years. Online vendors can offer a variety of products that can be used both indoors and outdoors. As a result, online customers have a wide variety of options to choose from, including products from local and international manufacturers that compete in the home decor industry. With most people still adhering to the Work-from-Home (WFH) policy during the COVID-19 (coronavirus) outbreak, companies in the online home decor market have an elaborate list of WFH furniture on their websites released. Many schools and colleges are being screened for the resumption of lectures during the pandemic. Therefore, the manufacturers concentrate on the essentials of the school such as study tables, bean bags, and wall shelves. Right now, the online home decor market is slowly picking up speed in countries still struggling with the pandemic. However, between January 2020 and March 2020, the online furniture business saw a dramatic increase in traffic. Worldwide traffic on furniture websites increased from January to March as many people prefer to set up offices at home.
- Growing Demand for Premium Furniture
- Growth of the E-Commerce Industry
- The Expansion of the Urban Population
- Increasing Demand for Eco-Friendly Furnishings
- Rise in Demand for Home Decor Products and Awareness about Interior Designing
- Increase Awareness about Data Protection Laws to Ensure Safe Purchase of Products
- Increasing Efforts to Combine Traditional Artistry with Contemporary Appeal
- Manufacture High-End Luxury Products with Impressive Designs and Craftsmanship to Lure Customers
- High Operational Costs
- Intense Competition between Online Retailers
- The Rising Concept of Luxury Home Decor Is Growing Popular Among Individuals
- The Growth of the Global Real Estate and Commercial Construction Industry
- The Increasing Use of Digital Platforms
- Increasing Number of Startups Are Tapping Incremental Opportunities
- Lack of Trust in Products
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Bed Bath & Beyond Inc. (United States), Coyuchi Inc. (United States), Ashley Home Stores, Ltd. (United States), Trendsutra Platform Services Pvt. Ltd. (India), Amazon (United States), Pier 1 (United States), Kimball International Inc. (United States), Wayfair (United States), Urban Ladder Home Décor Solutions Pvt. Ltd. (India), Home24 SE (Germany), Inter IKEA Holding B.V (Netherlands), Chairish Inc. (United States), Lowe's Companies Inc. (United States) and Herman Miller, Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like Cabela's (United States), Carrefour (France) and Costco (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Online Home-Décor market by 2025. Considering Market by Distribution Channel, the sub-segment i.e. E-Commerce Websites will boost the Online Home-Décor market. Considering Market by Consumer Segment, the sub-segment i.e. B2B will boost the Online Home-Décor market.
Latest Market Insights:
In August 2020, Ashley Furniture had announced its expanding operations at its facilities in Verona and Saltillo. The expansions have thereby created around 130 jobs across both facilities. Ashley had invested USD 13 million in its Verona plant; this includes the construction of the building and purchasing of new equipment.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Online Home-Décor market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Online Home-Décor market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Providers of Online Home Décor, End-Users, Potential Investors, Market Research Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.