Here's some information about furniture stores and the furniture retail landscape:
Overview of the Furniture Retail Market
According to Statista, the furniture retail industry is a multi-billion dollar sector, with the global market revenue estimated to exceed $738 billion in 2023 and projected to grow to nearly $922 billion by 2028. This industry encompasses not only the sale of furniture but also home furnishings. E-commerce in the furniture industry is steadily growing due to advancements in logistics and delivery options. Other trends that will impact the industry include sustainability, second-hand sales, and the use of virtual reality.
Furniture Sales and Distribution
The furniture industry, which includes production, distribution, and retail, is a global multi-billion dollar industry. The United States is one of the largest furniture markets globally, with imports valued at nearly $73 billion. However, the Asia-Pacific region, especially China, is rapidly growing, with China being the leading global exporter of furniture, valued at around $90 billion.
Key Players in Online and Offline Sales
IKEA, based in Sweden, is one of the most valuable retailers globally, with a value of over $21 billion. Known for its minimalist design, affordability, and easy-to-assemble furniture, IKEA attracted more than 860 million visits to its physical stores in 2023. In the digital realm, Wayfair stands out as a prominent e-commerce retailer of furniture, boasting over 20 million active customers.
Furniture Retail in Europe
According to the CSIL report "Furniture Retail in Europe" 2022, the European furniture market grows by 3% annually. Growth in 2021 was around 10%, with the market size reaching almost 140 billion euros (at retail prices). In 2021, all markets exceeded their pre-pandemic sizes from 2019, thus fully recovering from the pandemic.
China National Furniture Association (CNFA)
The China National Furniture Association (CNFA) is an organization representing the furniture industry in China, with members including Nanjing Zhongde Furniture Co., Ltd., which focuses on mid-to-high-end furniture, including European-style and modern furniture.
Kinwai Humanized Furniture
Kinwai Humanized Furniture's official website offers options for commercial and residential furniture, dedicated to creating a better living space for 31 years.
This information provides a global perspective on furniture stores and rental services, including market size, major players, and industry trends.