Furniture Stores in the US
The Furniture Stores industry is expected to grow moderately over the five years to 2018. Rising consumer sentiment and discretionary spending encouraged individuals to ramp up purchases of big-ticket home goods, including furniture. Despite concerns about a falling homeownership rate, increasing consumer spending has spurred industry product sales. The industry is highly fragmented, with no one company controlling a commanding market share. Most operators are either small, privately run businesses with fewer than four employees or nonemployers. Companies of this size were hit hard at the outset of the period. Depressed demand hurt profit margins, as inventory turnover slowed to a crawl. Higher disposable income will help drive some furniture purchases over the five years to 2023. Furthermore, stabilizing homeownership rates will encourage consumers to purchase more furniture to outfit homes initially. At the same time, industry competition from other outlets, such as department stores, mass merchandisers and online retailers, will continue to grow. While external competition will motivate many operators to improve customer service, brand awareness and financing capabilities to differentiate traditional furniture stores from their competitors, competition will also entice operators to keep prices low to retain customers, restraining revenue growth.
Operators in this industry primarily sell household, outdoor and office furniture, except those sold in combination with office supplies and equipment. This industry predominantly markets and retails living room, dining room and bedroom furniture, upholstered and otherwise. Desks and home office goods, lamps, recliners, rugs and outdoor furniture make up the rest of sales.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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