Skip links

Trends That Will Transform The  Home Goods  Industry Outlook in 2020

Furniture is a must for everyone. People need a place to sit and relax. They also need items they can use to greet guests in an office and when sitting outside on their front porch. Furniture manufacturers and designers have rushed to fill this bill with items they know their clients will love. The furnishing industry remains a largely robust sector of the economy right now. It is likely to continue to remain so as companies pay attention to key sectors of the market and deliver items that please today’s consumers.

E-Commerce

Buying furniture online was once confined to a small sector of the market. This market is starting to hold impressive promise as more and more people start to realize the advantages of buying their furnishings from home. Major brick-and-mortar retailers continue to explore the possibility of reaching into this market and seeing if customers will follow in their wake. Largely online retailers like Amazon have seen furniture sales grow by more than fifty percent. This year is expected to see more sales growth in e-commerce. People are looking at lots of smaller items like pillows, curtains and other items that can be shipped with ease even long distance. This makes it possible for retailers to offer them with reduced shipping rates. Larger items are also being shipped. People who know how to assemble things can order them, have them delivered and then save money compared to standard furniture shopping.

Eco-Friendly Design

Buyers looking for furniture want items that are in tune with the earth. They’re looking for pieces that are made from sustainable woods and other types of material that can be harvested again and again. Under these circumstances, it is no wonder that designers are paying close attention to what they want and why they’re looking for certain items. One area likely to see even more growth is that of the outdoor furniture market. People want to find items they can bring outdoors with them as they relax and greet their guests. They also want to have items that can stand up to changing weather conditions from rain and snow to heat and humidity. This demand for quality items that are made with an eye to the future are part of the reason why the American market for outdoor furnishings is expected to surpass twenty-three billion in the coming years.

Fewer New Homes

One trend that concerns industry watchers is that of housing. Housing affects many industries including that of the furniture industry. When people buy homes, they start to think about ways to furnish them. Many people bring furniture with them but just want a few updates to help them transform the new space. Others prefer to have an entirely newly decorated space that speaks of their personality and outlook in life. People who look at furniture trends have noted that housing starts decreased by .09% during part of the new year. Housing starts can indicate that fewer people are thinking about moving. It also indicates that demand for new homes may be falling in some parts of the country. At the same time, it can also be an indication that people are simply planning to remodel their homes. In that case, they’ll still look for new ways to furnish it.

Home Office Furnishings

More and more people are working from home. Some people can telecommute, enabling them to relax at home and avoid the need to slog into the office every single day. They’re also choosing to open up a home office in order to greet their own private clients in a safe and protected space. Workers not only need a comfortable place to relax as they work. They also need to have items whee they can make any client feel at home once in their office. These are some of the reasons that home office growth should see a a six percent increase in the coming year. More people want quality items that provide enough seating and plenty of room if they decide to hire someone to work with them.

Luxury Global Markets

One of the many areas of furniture are luxury, well crafted, upscale items, People love beautiful items they can admire and touch in their own home. Around the world, this part of the market has begun to take off. People have more personal income to spend. They want to have something of value for it. It’s not surprising that furniture designers have risen to this challenge and gone beyond it. The market for luxurious furniture should reach more than thirty billion in the coming years as people seek out the highest possible value for their dollars. People can now find wonderful items to pick from for use in their own homes. They find that details like elegant leather and the use of varied woods can offer them to something to appreciate. Luxury furnishing is one trend that is expected to continue to take off.

Marketing to Millennials

The next generation is just coming into their own. They’re moving out of the house and the dorm. As they do so, they’ve come to realize they want a well furnished home. Studies indicate that this group has increased their share of this market to 24.6%, making them one of the world’s leading markets for furniture purchases. Furniture marketing efforts are focusing more on this sector of the economy than ever before. Marketers understand this group has money to spend and wants to aim for quality items that will make their home shine and keep value at the same time. Directing funds at this market is likely to pay off as the public learns to distinguish between varied kinds of furniture brands. Creating an image in this sector of the market can pay off with long-term, highly loyal and happy customers.

More Than One Function

Modern homes vary greatly in the amount of space they offer. People are looking for items that can do different duty in the same piece. The market for items that can be used in varied ways should continue to take off and continue to be an important part of the overall furnishing markets. Those who want to find a sofa that can be converted into a bed or one that has bookshelf for extra storage underneath are helping to push this market to new heights. Over the next few years, growth in this area is expected to exceed 7.5%, making it one of the liveliest parts of the furnishing markets and one that will probably see even more growth.

Steady Growth

Furniture sales are expected to hold steady this year. Many people continue to need items for their homes, dorms and other places such as the office. Spending on home furnishings has increased by .02 percent. This kind of growth means that furnishing companies have what they need in order to provide for their client’s needs. Steady growth allows for furnishing companies to stay on top of the field. They know that the inventory they have on hand is likely to remain admired by clients and sought after. Having a steady group of clients to buy items means that companies can count on a steady source of income all year long. It also means that they can hire the help they need to please clients and know there will be work for them. A stable industry allows for companies to make plans and then carry them out.

United States Plays Prominent Role

When surveying the global furnishing markets, experts continue to focus on the American markets. Americans continue to provide a large share of the raw materials that are required to create new items. They also provide a large consumer market that is likely to provide a great deal of opportunity for companies that are poised to take advantage of it. Americans remains the largest importers or furniture across the globe. There were more than 24.5 billion imports of furniture in the United States. Americans love items that are made in the United States. They also love items that are made in other parts of the world. The global markets make it possible for people to find a vast array of items they can buy when they hit their local furniture markets. This makes it easier than ever for people to find the kind of items they want in markets all over the United States. Even smaller cities here typically offer lots of different possibilities that can take any ordinary room and transform it into a marketable showplace. The net result are lovely, elegant rooms that have that global furnishing touch.

Wood Furniture Highly Popular

Wood has long been a mainstay of furniture construction. People love wood. It’s full of texture and pleasing to the eye. They like how durable it is as well as how much character it adds to any home. It’s understandable that designers are using it in all forms of their furniture today. People love different types of wood such as pine and oak. They like how each item is subtly different from the next. At the same time, they also want to have wood that isn’t as heavy and doesn’t necessarily require a lot of money to buy. One type of wood that remains idea for varied types of furniture is a type made from many different kinds of woods. This is known as particle board. Consumers can expect to see a lot more particle board when they are searching for furnishings to purchase.