Overview and Scope
E-commerce furniture refers to the buying and selling of furniture products online through electronic platforms such as websites, mobile apps, and online marketplaces. This allows customers to browse various furniture items, make purchases, and have them delivered to their doorsteps without visiting physical stores. E-commerce platforms often offer various benefits, such as convenience, a more comprehensive selection of products, competitive pricing, and the ability to compare prices and features quickly.
Sizing and Forecast
The e-commerce furniture market size has grown strongly in recent years. It will grow from $32.21 billion in 2023 to $34.60 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to a shift toward online shopping, changes in regulations, fluctuations in disposable income, aging populations, and changing household structures.
The e-commerce furniture market size is expected to see strong growth in the next few years. It will grow to $46.80 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to mobile commerce growth, growing consumer awareness regarding eco-friendly materials, personalization trends, globalization of supply chains, and partnerships. Major trends in the forecast period include sustainable and eco-friendly furniture, expansion of e-commerce platforms, omnichannel retailing, augmented reality (AR) and virtual reality (VR).
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Segmentation & Regional Insights
The e-commerce furniture market covered in this report is segmented –
1) By Type: Ready-To-Assemble (RTA), Assembled
2) By Product Type: Beds And Mattresses, Sofas And ArmChairs, Entertainment Units, Storage Units, Tables And Desks, Other E-Commerce Furniture
3) By Material Type: Wooden E-Commerce Furniture, Metal E-Commerce Furniture, Plastic E-Commerce Furniture, Leather E-Commerce Furniture, Glass E-Commerce Furniture
4) By End Use: Residential, Commercial, Industrial
North America was the largest region in the e-commerce furniture market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the e-commerce furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The widespread use of smartphones is expected to propel the growth of the e-commerce furniture market going forward. Smartphones are portable electronic gadgets primarily designed for communication, internet access, and various applications. The use of smartphones is increasing due to their convenience, versatility, accessibility to Internet services, and the proliferation of apps. E-commerce furniture retailers optimized their websites and developed mobile apps to provide seamless browsing and purchasing experiences on smartphones and tablets. For instance, in April 2022, according to the Department of Telecommunications under the Ministry of Information and Communications, a Vietnam-based regulatory agency, Vietnam recorded 91.3 million smartphone subscribers in 2021. This figure increased by over 2 million at the end of March 2022, resulting in 93.5 million subscribers, equivalent to 73.5% of the nation's adult population. Therefore, the widespread use of smartphones and mobile devices is driving the growth of the E-commerce furniture market.
Key Industry Players
Major companies operating in the e-commerce furniture market are Walmart Inc., Amazon.com Inc., The Home Depot Inc., JD.com Inc., Lowe's Companies Inc., Inter IKEA Systems B.V., Coupang Corp., Wayfair Inc., Anthropologie LLC, Ashley Furniture Industries Inc., Steelcase Inc., HNI Corporation, Dunelm Group plc, La-Z-Boy Incorporated, Knoll Inc., Ethan Allen Interiors Inc, Westwing, Hooker Furniture Corporation, Cdiscount.com Inc., Bassett Furniture Industries Inc., CB2 , Hayneedle Inc., Cymax Group, Tmall.com, Bygghemma Group First AB
The e-commerce furniture market report table of contents includes:
1. Executive Summary
2. E-Commerce Furniture Market Characteristics
3. E-Commerce Furniture Market Trends And Strategies
4. E-Commerce Furniture Market - Macro Economic Scenario
5. Global E-Commerce Furniture Market Size and Growth
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32. Global E-Commerce Furniture Market Competitive Benchmarking
33. Global E-Commerce Furniture Market Competitive Dashboard
34. Key Mergers And Acquisitions In The E-Commerce Furniture Market
35. E-Commerce Furniture Market Future Outlook and Potential Analysis
36. Appendix
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According to forecasts of economists at the beginning of 2019, Internet shops around the world will sell goods for 2 trillion dollars, which is 6% more than in 2017.
Experts predict that every year a large part of the advertising budget will go to the development and implementation of chatbots.
They will facilitate the work of sellers and allow buyers to optimize time to choose and order goods.
Personalization programs include intelligent products that help the customer choose the product.
It’s no secret that most users start searching on one device, for example, a home computer, but make out and pay for the purchase using a smartphone.
Thus, to have a stable sales, the store must be available on all channels.
