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From Home Furnishing Business

Global Bedroom Furniture Market to Top $125B by 2020

London-based Technavio analysts expect the global bedroom furniture market to exceed $125 billion by 2020, growing at a compound annual growth rate (CAGR) of more than 3 percent during the forecast period. 

FastFact: Industry Sales Up Compared to 2015 Q1

Furniture sales, totaling approximately $23 billion, were up 4.2 percent in the first quarter of 2016 compared to the first quarter of 2015.

FastFact: Recession Significantly Cut Back Furniture Store Employees

Furniture and floor coverings store closures were significant during the recession, and remaining locations also cut back on employees.

LIRA Anticipates Robust Remodeling Growth

According to the newly re-benchmarked Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, strongly accelerating growth in home improvement and repair spending is expected heading into 2017.

FastFact: Home Furnishings Industry Lost 18 Percent of Stores in Recession

The furniture and home furnishings industry lost 18 percent of its retail stores during the recession.

FastFact: Home Furnishings Retail Stores Slow to Rise After Recession

The home furnishings industry lost 18 percent of its stores from 2007 to 2012, and another 3.6 percent since 2012.

FastFact: Seniors Boost Remodeling Trend

The Joint Center for Housing Statistics of Harvard University conducted a 10-year study that shows an increased percentage of seniors in the midst of or planning home remodeling projects to update homes as they age.

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