Shopping for Home Décor - US - June 2016
Home décor is a $38+ billion industry, according to 2015 consumer expenditure data, and is forecasted for continued growth through 2021 when sales should reach $45.8 billion, 19% above this year’s estimates. Most purchasing occurs in-store, but growth is coming from online channels as more and more consumers are lured by the convenience of online shopping. Traditional home furnishings retailers do need to be more aggressive at protecting their territories though, as other channels that sell home décor – particularly those of a value orientation – are making serious inroads.
This report examines the following issues:
Outlook positive for home décor market
Competition for share of wallet is getting intense
Growth is coming from online, with Millennials leading the charge
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