Furniture Stores in the US - Industry Market Research Report

New upholstery: External competition will likely motivate many operators to improve customer service

The Furniture Stores industry primarily sell household, outdoor and office furniture, including living room, dining room and bedroom furniture, as well as home office goods, lamps, recliners, rugs and outdoor furniture. Furniture stores benefited from a strong residential market. The 2020 pandemic resulted in historically high disposable income and pushed down interest rates to nearly 0.0%, boosting the residential sector. As consumers grew confident in the economy, they purchased and built homes, supporting furniture sales. However, growing inflation and interest rates led to consumer grown at an estimated CAGR of 1.6% to $128.3 billion over the five years to 2023, including a 1.6% dip in 2023 alone. Operators in this industry primarily sell household, outdoor and office furniture, except those sold combined with office supplies and equipment. This industry predominantly markets and retails living room, dining room and bedroom furniture, upholstered and otherwise. Desks and home office goods, lamps, recliners, rugs and outdoor furniture make up the rest of sales. 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.