Home Furnishings in Canada

PROSPECTS

Home renovations increase due to the slowing housing market

The real estate market, which once witnessed double-digit growth, saw a slowdown in 2018, and is likely to see further corrections in 2019. Owning a house in Toronto or Vancouver has become a distant dream for many middle-income people.

“Made in Canada” furniture gains popularity thanks to USMCA

Canada exports nearly 95% of its furniture to the US. The USMCA deal and the increased tariffs impacted local manufacturers.

Senior citizens increase the demand for customised furniture

Thanks to the baby boomer generation, senior citizens in Canada outnumber children in the country. As the elderly population moves to a different way of living, customised furniture is seeing increasing demand.

COMPETITIVE LANDSCAPE

Ikea continues to increase its stronghold in the Canadian market

Ikea continued to lead home furnishings in Canada in value terms in 2018. It aims to become a leader in multichannel home furnishings in the country.

Ikea offers other services to boost its sales

To enhance the customer experience, Ikea launched TaskRabbit, an in-home assembly service, in Toronto at the end of 2018, which then extended to Vancouver, and is expected to be available in Quebec in mid-2019. Ikea also introduced a unique programme to buy back little-used furniture, called the IKEA Sell-Back Program, which aims to create a sustainable everyday home life.

Players are beefing up their e-commerce

Thanks to Amazon.ca and Wayfair.

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