News • 30.11.2018

U.S. online residential furniture industry to hit 28.74 billion dollar by 2024

Growth in the market is attributed to the stability in real estate industry

Furniture; Copyright: panthermedia.net/2mmedia
Source: panthermedia.net/2mmedia

Home sales in the U.S. have moved northwards, and with the favorable macroeconomic environment, consumers have started investing in associated home essentials including furniture.

Among the various consumer groups, millennials lead the pack in the online residential furniture market. Millennials are well-versed with digital devices and are aware of various online platforms, which coupled with their propensity to explore and compare furniture online, places them as one of the key consumer groups in the market. In addition, millennials make their presence active on social networking platforms and are keen on online purchases, which makes them even more receptive of the online residential furniture market.

Operational challenges, mainly related to order fulfillment continues to be a key aspect which tends to affect their top line. To that end, unexpected delay, damaged product delivery, and an increase in service charges by order fulfillment companies remain key challenges. For instance, in 2016, companies such as UPS and FedEx increased their handling fee for bulky products to suffice for the space these products take in delivery vehicles.

Living room segment dominated online residential furniture market in 2016. Among the various furniture in the living room, sofa remains the key product category consumers spend mainly on.

In 2016, wood furniture commanded a significant share of the market. Consumers prefer wood furniture because it optimizes investment by enhancing the aesthetics of the living room, is durable, easy to maintain, and can be refinished to give it a fresh look towards the end of its active life. Prominent players are investing in research & development activities, and mergers & acquisitions.

Source: HexaResearch

related articles:

popular articles:

Thumbnail-Photo: APG Cash Drawer: new SMARTtill business development manager...
15.05.2019   #cash management #cash handling systeme

APG Cash Drawer: new SMARTtill business development manager

APG Cash Drawer announces hire of SMARTtill business development manager

APG Cash Drawer, a fast-growing global manufacturer of cash management solutions, announced today the addition of Tony Pusateri as SMARTtill Business Development Manager. ...

Thumbnail-Photo: Robots in retail: producer and salesperson all-in-one at the fully...
15.03.2019   #artificial intelligence #customer retention

Robots in retail: producer and salesperson all-in-one at the fully automated kiosk

Interview with Matthias Krinke, Managing Director of pi4_robotics GmbH

At Berlin’s shopping mall Bikini Berlin, we meet the robot “Gisela”. The robot’s designer Matthias Krinke sat down with us and explained what she can do and revealed what the retail industry can expect from her and her ...

Thumbnail-Photo: Goodbye paper receipts: All documents stored in one app...
16.05.2019   #epos systems #cashpoints, cash register, cash desk

Goodbye paper receipts: All documents stored in one app

What happens when the Receipt Provision Ordinance takes effect? We digitize!

They create a lot of work and endless waste: tons of paper receipts from cash registers end up with customers or the waste bin every day. In early 2020, all consumers must be given a purchase receipt in Germany. That’s what the law mandates. ...

Thumbnail-Photo: Online inventory management system
06.05.2019   #online trading #e-commerce

Online inventory management system

5 things e-commerce retailers should look for

In order to perform online efficiently as an Internet retailer, one needs to choose the most effective inventory management system. Its main features should include centralised user interface, full automation, automated stock checking and ...

Thumbnail-Photo: Toshiba: artificial intelligence for frictionless shopping...
21.02.2019   #self-checkout systems #Trade fair special EuroCIS 2019

Toshiba: artificial intelligence for frictionless shopping

AI, edge computing and smart shelf technology at the EuroCIS 2019

Thumbnail-Photo: Social commerce 2.0: artificial intelligence detects purchase intention...
18.04.2019   #e-commerce #sustainability

Social commerce 2.0: artificial intelligence detects purchase intention

Choosy analyzes fashion trends on Instagram – and redesigns them

The fashion world moves at lightning speed – and more than ever thanks to the rise of social media. In the past, key trends emerged off the runways twice a year during fashion weeks. Now Instagram et al. set the tone daily thanks to feeds of ...

Thumbnail-Photo: Secure networking for 8,800 locations
09.04.2019   #security #software developement

Secure networking for 8,800 locations

LANCOM and ecotel to build one of the largest SD-WANs in Europe

The German network infrastructure supplier LANCOM Systems and the Düsseldorf-based ICT company ecotel have concluded a far-reaching cooperation agreement to build one of the largest WAN projects featuring software-defined networking (SDN) in ...

Thumbnail-Photo: 3D shop and customer analysis with artificial intelligence...
04.02.2019   #customer analysis #Trade fair special EuroCIS 2019

3D shop and customer analysis with artificial intelligence

Product innovation at EuroCIS: Intenta S1000 people counter

Intenta presents the new Intenta S1000 people counter at this year’s EuroCIS – a new 3D vision sensor for fully automatic intelligent scene interpretations. This retail specialist tracks precise data for customer statistics thus giving ...

Thumbnail-Photo: Quality and great experiences at irma in Illum...
18.04.2019   #electronic shelf labels (ESL) #labels

Quality and great experiences at irma in Illum

A store with all the best

The customers wanted Irma back and they got that. After two years of absence, Irma has once again opened a store in the basement of ILLUM department store in the late summer of 2018. The new Irma store offers high quality and extra good experiences ...

Thumbnail-Photo: Posiflex: interactive self-service kiosk systems for the POS...
21.02.2019   #kiosk terminals #self service terminals

Posiflex: interactive self-service kiosk systems for the POS

Going through changes and coming out stronger - Posiflex aquisitions

Supplier

Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
ROQQIO Commerce Solutions GmbH
ROQQIO Commerce Solutions GmbH
Harburger Schloßstraße 28
21079 Hamburg
Intenta GmbH
Intenta GmbH
Ahornstraße 55
09112 Chemnitz
Axis Communications GmbH
Axis Communications GmbH
Adalperostraße 86
85737 Ismaning
Elo Touch Solutions NV
Elo Touch Solutions NV
Kolonel Begaultlaan 1C11
3012 Leuven
EUROEXPO Messe- und Kongress-GmbH
EUROEXPO Messe- und Kongress-GmbH
Joseph-Dollinger-Bogen 9
80807 München
iXtenso - Magazin für den Einzelhandel
iXtenso - Magazin für den Einzelhandel
Celsiusstraße 43
53125 Bonn
LANCOM Systems GmbH
LANCOM Systems GmbH
Adenauerstraße 20 / B2
52146 Würselen
MobiMedia AG
MobiMedia AG
Rottpark 24
84347 Pfarrkirchen
POSIFLEX GmbH
POSIFLEX GmbH
Flinger Broich 203
40235 Düsseldorf