This market research study presents a comprehensive analysis of the global online home décor market by product type (home furniture, home furnishings, and other home decorative products) and by geography (Americas, APAC, Europe, and MEA). Leading vendors in this market are IKEA, Bed Bath & Beyond, Amazon, and Wayfair.
Technavio has released a new market research report on the global online home décor market, which is expected to grow at a CAGR of 20% between 2016 and 2020. The rise in Internet penetration and the use of digital platforms are the key drivers of the online home décor market. Of late, several manufacturers offering a vast range of aesthetic furniture constructed using bamboo, which is robust and more durable than wooden furniture. Demand for eco-friendly furniture is on rise owing to the growing awareness of the effects of deforestation. Europe dominates the global online home décor market, accounting for 44% of the total market share. Much of this region’s high revenue comes from the sale of premium-priced and customized home décor products in the UK, France, Italy, and Germany.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Online platforms play a crucial role in generating interest in interior design among consumers. The growing number of working women and their increased participation in household decision-making have led to increased interest in interior design. Independent bloggers and designers collaborate with popular e-retailers and top-quality websites to inform customers about the latest trends and products in this segment. Major home décor players also offer dedicated services to help consumers plan their interior design. Some popular websites include apartmenttherapy.com and home-furnishing.com,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research
Currently, the home furniture segment dominates the market, occupying more than 47% of the overall market share in terms of revenue. Factors such as the availability of detailed catalogs with defined product categories on most e-commerce platform and the ease and convenience of online shopping to impel the growth prospects of this market over the forecast period.
Global online home furniture market 2015-2020 ($ billions)
Source: Technavio, 2016
The leading players in the global online home décor market include IKEA, Amazon, Bed Bath & Beyond, and Wayfair. This market is fragmented with the presence of a few global and many local players in the market. The major vendors sell home décor products only through their own online portals. Vendors in the market compete on the basis of product portfolio, premiumization, differentiation, and pricing. Competition in this market is expected to intensify during the forecast period, with the entry of new players and private labels.
A more detailed analysis is available in the Technavio report, Global Online Home Décor Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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