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U.S. Online Residential Furniture Market Worth $28.74 Billion by 2024: Hexa Research


News provided by

Hexa Research

19 Apr, 2018, 11:20 GMT

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FELTON, California, April 19, 2018 /PRNewswire/ --

The U.S. online residential furniture market is expected to reach USD 28.74 billion by 2024 and is projected to grow over the forecast period from 2017 to 2024. Growth in the market has been attributed to the stability of the real estate sector. Home sales in the U.S. have moved northwards, and with the favorable macroeconomic environment, consumers have started investing in associated home essentials including furniture.

Among the various consumer groups, millennials lead the pack in the online residential furniture market. Millennials are well-versed with digital devices and are aware of various online platforms, which coupled with their propensity to explore and compare furniture online, places them as one of the key consumer groups in the market. In addition, millennials make their presence active on social networking platforms and are keen on online purchases, which makes them even more receptive of the online residential furniture market.

Operational challenges, mainly related to order fulfillment continues to be a key aspect which tends to affect their top line. To that end, unexpected delay, damaged product delivery, and an increase in service charges by order fulfillment companies remain key challenges. For instance, in 2016, companies such as UPS and FedEx increased their handling fee for bulky products to suffice for the space these products take in delivery vehicles.

Browse full research report with TOC on "U.S. Online Residential Furniture Market Size and Forecast, by Use (Living room, Bedroom, Dining & Kitchen) by Material (Wood, Metal, Leather), and Trend Analysis, 2014 - 2024" at: https://www.hexaresearch.com/research-report/us-online-residential-furniture-market

Living room segment dominated online residential furniture market in 2016. Among the various furniture in the living room, sofa remains the key product category consumers spend mainly on.

In 2016, wood furniture commanded a significant share of the market. Consumers prefer wood furniture because it optimizes investment by enhancing the aesthetics of the living room, is durable, easy to maintain, and can be refinished to give it a fresh look towards the end of its active life. Prominent players are investing in research & development activities, and mergers & acquisitions.

Browse reports of similar category by Hexa Research: 

  • U.S. Online Jewellery & Watches Market - U.S. online jewellery and watches market size was estimated at USD 6.19 billion in 2017. Rising disposable income is one of the key factor supporting market growth.
  • U.S. Online Art & Sculpture Market - U.S. online art and sculpture market size was valued at USD 1.31 billion in 2017 and is expected to witness a significant growth, pertaining to the rise in the use of internet and digital platforms for procurement of such collectables. In the U.S., this market is primarily driven by the presence of large number of people interested in collecting these products.
  • Minibar Market - Global minibar market size was valued at USD 1.15 billion in 2016 and is expected to witness growth on account of rising use of these products by the hospitality and recreational markets at large. Hoteliers are obligated to modify their service offerings with the aim of not losing their guests to convenience stores in the proximity.
  • U.S. Online Eyewear Market - U.S. online eyewear market was valued at USD 338 million in 2017 and is expected to grow to a lucrative rate over the projection period on account of growing demand for spectacles and contact lenses in geriatric population coupled with an increasing prevalence of age related vision problems.

Hexa Research has segmented the U.S. online residential furniture market report based on material and use: 

Segmentation by Material, 2014 - 2024 (USD Billion)  

• Wood

• Metal

• Leather

• Others

Segmentation by Use, 2014 - 2024 (USD Billion)  

• Living room

• Bedroom

• Dining & kitchen

• Others

Key Players Analyzed 

• Williams-Sonoma

• Wayfair

• Amazon

• IKEA

• Ashley HomeStores

About Hexa Research 

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact:
Michelle T.
Corporate Sales Specialist
Hexa Research
Phone: +1-415-349-0058
Toll Free: 1-800-489-3075
Email: sales@hexaresearch.com

Web: https://www.hexaresearch.com/

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