Furniture Retailing in Australia - Market Research Report

Homeward bound: Consumers are working and shopping from home more, encouraging demand for furniture

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Furniture retailers have faced volatile trading conditions in recent years. Limited residential building construction and volatile consumer sentiment have hampered consumers from purchasing furniture. Even so, an upswing in discretionary income, driven mainly through government support payments in response to the COVID-19 outbreak, has aided spending on household goods, including furniture. That's why industry revenue is set to rise at an annualised 3.0% through the end of 2022-23, to $11.9 billion. A drop in consumer sentiment, falling discretionary income and lower residential building construction are on track to limit revenue growth in 2022-23 to just 0.9%. The evolution of pay-later services has spurred increased spending on furniture goods, keeping customers shopping in times of uncertainty. Furniture retailers sell household furniture, blinds, awnings and mattresses. Company-owned and franchised stores and online sales generated by these retailers are included in the industry. The industry excludes department stores, online-only retailers and auction websites.