Furniture Stores Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 6/7/2021
SIC Codes: 5712
NAICS Codes: 4421
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
View Full Sample Add To Cart

Excerpt from Furniture Stores Industry Profile

Companies in this industry sell household, outdoor, and office furniture; as well as furniture sold in combination with home appliances or home furnishings. Major companies include Ashley Furniture HomeStore, Crate & Barrel, Raymour & Flanigan, RH (formerly Restoration Hardware), Rooms To Go, and Williams-Sonoma (all based in the US), as well as ASIAN DAVINCI TRADING COMPANY (China), HOLA Home Furnishings (Taiwan), and IKEA (Sweden).

The global furniture market is expected to recover from the economic slowdown and grow at a CAGR of 7% in 2021 and exceed $840 billion in 2023, according to Research and Markets. Demand for furniture is expected to grow significantly in India, China, and parts of Eastern Europe.

The US furniture retailing industry includes about 23,600 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $60 billion.

COMPETITIVE LANDSCAPE

Household furniture sales are closely linked to home sales; office furniture sales are linked to employment growth and new business formations. The profitability of furniture stores depends on merchandising and marketing. Large companies enjoy economies of scale in purchasing and distribution. Small companies can compete effectively by specializing. The US industry is fragmented: the 50 largest companies generate about 45% of revenue.

Furniture retailing is highly competitive and includes local furniture stores, regional furniture retailers, national department store operators, mass merchandisers, single-vendor branded retailers, and catalog and internet merchants. Online furniture retailers, in particular, ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Related Profiles

Here are a few profiles related to Furniture Stores that you also might be interested in viewing:

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options