WASHINGTON and NEW YORK and LONDON, Jan. 29, 2016 /PRNewswire/ -- MarketResearch.com published a blog highlighting the top five trends that will drive the furniture industry.
To learn more, visit our blog: http://hubs.ly/H01ZC_Q0
The economic recession had a strong negative impact on the furniture industry. But in recent years, the U.S. furniture industry has outpaced the U.S. economy. While the housing market continues to increase, we are seeing an uptick in discretionary spending. By 2019, the global market for furniture and floor coverings is forecast to reach $695 billion.
The top five furniture trends discussed in the blog are:
- The rise of telecommuting is driving the demand for home office furniture.
- Multi-functional, versatile furniture is gaining popularity.
- Online is the fastest-growing channel in developing markets.
- The demand for luxury furniture is increasing.
- More furniture vendors are choosing to go green.
The first trend discussed is the increased demand for home office furniture. Consumers have set up more home offices as telecommuting and working from home has increased. As a whole, the market for global home office furniture is forecast to grow at a compound annual growth rate of 5.58% between 2014-2019.
Read our blog to find out details on the other four trends that are driving sales and innovation in the furniture market: http://hubs.ly/H01ZC_Q0
Don't miss out on all our reports covering the furniture market: http://www.marketresearch.com/Consumer-Goods-c1596/Consumer-Goods-Retailing-c80/Furniture-c115/?progid=88305
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