United States Home Décor Market Outlooks
Home décor is the total sum of all items and design elements that make indoor and outdoor living spaces beautiful and functional. It consists of furniture, textiles, lighting, wall art, flooring, and decorative accessories that are reflective of personal taste and lifestyle. Home décor is not just beautification but also creating comfortable and functional spaces.Home décor is one of the most significant markets in the USA, primarily driven by changing consumer preferences towards modern, minimalistic, and sustainable designs. With growing disposable incomes and the increasing impact of social media and interior design trends, Americans are investing more in their living spaces. The pandemic further accelerated this trend as people spent more time at home, emphasizing comfort and personalization. E-commerce platforms have also made high-quality, customizable décor accessible to a broader audience. Sustainable and eco-friendly home décor products are becoming increasingly popular as consumers prioritize environmentally conscious choices. For example, a Juniper survey reported 47% of consumers prefer chatbots for online shopping because it offers 24/7 support, which contributed almost $112 billion in retail e-commerce sales by 2023. E-commerce merchants also capitalize on seasonal seasons and holidays with seasonal discounts and promotions.
Driving Growth in the United States Home Décor Market
Heightened Interest in Home Personalization
Consumers in the U.S. are increasingly making homes personalized because of their need to have living spaces that reflect their tastes and lifestyles. Social media platforms, such as Pinterest and Instagram, have popularized interior design trends, which inspires people to change their homes. Customizable furniture, decor items, and DIY solutions have become more in demand as a result of this trend. Moreover, through e-commerce platforms, consumers can access various products, thus making home personalization more accessible. This has led to significant growth in the home décor market, especially among the younger and tech-savvy demographics. August 2024, Tailored Canvases is thrilled to introduce its customizable home décor collection, which includes a range of canvas prints, wall signs, and decorations that can be tailored to individual styles.Rising Disposable Incomes and Lifestyle Changes
As disposable incomes increase, Americans spend more on home improvement and décor. The trend is further reinforced by lifestyle changes, such as remote work, which necessitates functional yet attractive home office environments. Millennials and Gen Z consumers are willing to invest in trendy and high-quality decoration items. Enhanced financial stability has also led to increased homeownership, providing opportunities for home décor businesses to address new homeowners who need to furnish and decorate their homes. In 2023, U.S. consumers spent an average of 11.2 percent of their disposable personal income on food, a percentage that was consistent with the previous year, according to the USDA. Going forward, the estimated real disposable personal income per capita for October 2024 is expected to be $52,205.Home Decor E-Commerce Growth
E-commerce has transformed the home décor industry in the U.S., allowing customers to shop conveniently for products online. Extensive catalogs, competitive prices, and easy delivery make the store reach out to more customers. Online tools, such as AR for viewing decorations in outdoor spaces, have enriched customer experiences. E-commerce also presents sustainable and specialty home decor brands, expanding customer choice. The shift to online shopping, coupled with targeted marketing and personalization, is a key growth driver in the market. In 2023, e-commerce in the United States accounted for 22.0% of total retail sales, as Digital Commerce 360's analysis of data from the U.S. Department of Commerce reported. This is higher than in 2022 at 21.2%. According to the Pew Research survey carried out in July 2022, close to 32% of respondents in the US used their smartphones to complete their purchases online. 21% of the respondents utilized desktops or laptops, while 7% used a tablet for shopping purposes.Obstacles in the Home Décor Market of the United States
Excessive Competition in the Market Sectors
The U.S. home décor market is highly competitive, with the presence of many players: from major retailers to small businesses and niche brands. This causes intense competition, which eventually leads to price wars that reduce companies' profit margins. The smaller companies find it difficult to compete because established brands can offer huge product ranges and discounts through the e-commerce platform. Furthermore, consumer trends are changing rapidly and are always in need of new fashionable products, which results in a continuous innovation by the companies, thus adding more to the operational costs. Ensuring quality, price, and innovation is always the constant problem for the companies amidst this saturated market.Rising Raw Material Costs and Supply Chain Breakages
Raw material cost volatility such as wood, metals, and textiles significantly affect the cost of producing home décor products. These disruptions worsen the problems created during global crises, extending periods between availability of products and increases in shipping costs. Increased retail prices affect consumer affordably. Moreover, more stringent requirements about sustainable materials increase their complexities. Eco-friendly alternatives can often be more expensive and this challenge home décor businesses in the United States in managing supply chain inefficiencies while maintaining affordability and sustainability.USA Tables & Desks Industry
Rapid urbanization, population growth, and increased disposable incomes are driving the popularity of tables and desks in different designs, materials, and shapes. Tables have become an integral part of household furniture as they not only serve as tables and desks but also host social gatherings with friends and family, a virtual classroom for children, and a temporary home office. These factors are leading to increased adoption of dining tables by residential users and thus contribute to overall USA market growth.In addition, the trend of major industry players increasing their online presence is likely to boost sales of the product in the near future. A good example is Coco Republic, an Australian furniture company, which opened its online store in July 2023, offering quality and affordable furniture, including dining tables, to the U.S. market.
Products - Market breakup from 4 viewpoints:
1. Furniture2. Floor Covering
3. Home Textiles
4. Others
Distribution Channel - Market breakup from 4 viewpoints:
1. Supermarkets & Hypermarkets2. Specialty Stores
3. E-Commerce
4. Others
Income Group - Market breakup from 3 viewpoints:
1. Higher Income2. Upper-middle Income
3. Lower-middle Income
All companies have been covered from 3 viewpoints:
- Overview
- Recent Development
- Revenue
Company Analysis:
1. Inter IKEA Systems B.V.2. Bed Bath & Beyond Inc,
3. Herman Miller Inc.
4. Mohawk Industries Inc.
5. Williams-Sonoma, Inc.
6. Kimball International, Inc,
7. HNI Corporation
Table of Contents
Companies Mentioned
- Inter IKEA Systems B.V.
- Bed Bath & Beyond Inc,
- Herman Miller Inc.
- Mohawk Industries Inc.
- Williams-Sonoma, Inc.
- Kimball International, Inc,
- HNI Corporation
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 135 |
Published | January 2025 |
Forecast Period | 2024 - 2033 |
Estimated Market Value ( USD | $ 141.27 Billion |
Forecasted Market Value ( USD | $ 203.16 Billion |
Compound Annual Growth Rate | 4.1% |
Regions Covered | United States |
No. of Companies Mentioned | 7 |