Posts by Category: Furniture

The furniture industry has had some tough times over the last couple of years, but is expected to rise again in 2015/2016. Industry revenue alone is expecting an annual growth of 1.4% which is great considering the instability of the market in previous years.

The furniture industry is not the only industry to be affected by this economic instability, it has led to consumers subduing spending on retail across the whole domestic economy. Wages have gradually gone up over the last five years, but consumers still seem to feel a bit uncertain and because of the amount of household debts that need to be repaid. 2015/2016 still looks promising, however, with annual growth of 1.4%, revenue of $8 billion, business opening and booming to 4,538, and employment steadily rising to 25,996 jobs.

The furniture industry statistics are looking good so far into 2015 and when you look into the market size, future industry trends, and market share, things only seem to be getting better for the furniture industry. There are also conveniences that consumers haven’t had up until now and will surely keep coming as technology keeps moving forward. The most popular way to purchase seems to be the Internet and growing number of consumers buy outdoor furniture online and any type of furniture for that matter. This will greatly change the statistics which have yet to be brought into annual statistic counts and percentages. Some of the factors that are yet to be including in the annual reports include secure buying and payment methods, and the ability to compare prices and models from home; these will all surely only increase the rise of sales in this booming industry.