Home furnishings saw a return to growth in 2021 supported by the rising demand for products to create a more suitable domestic environment for remote working and distance learning. January 2021 saw further legislation requiring people to work from home in an effort to curb the spread of COVID-19.
Storage furniture saw continued growth in 2021 with the category taking up more shelf space across a range of different retailers, including home improvement specialists, hypermarkets and supermarkets. Retailers focused more on storage furniture as they responded to rising demand amongst consumers engaged in remote work and distance learning and, therefore, spending considerably more time at home than normal.
New specialist furniture stores continue to develop a presence in the Mexican market as consumers look for retail options where design, quality and price are aligned. Furthermore, the major multinational furniture retailer, IKEA, opened its first physical store in Mexico, located in Mexico City as part of the Encuentro Oceania shopping centre, in April 2021 and introduced its online store with a narrow catalogue and limited coverage during October of the same year.
The shift to remote working is expected to have a lasting, indeed a permanent, impact on working practices in Mexico. People are expected to continue to work from home at least part of the time, with hybrid working practices establishing a prominent role in the employment landscape.
Having experienced a significant increase in its share of home furnishings sales and a considerable expansion of its consumer base, e-commerce is set to continue to grow in the category during the forecast period. Many consumers turned to online shopping for the first time during the COVID-19 crisis, while established online customers shopped more frequently and for a wider range of products.
Although the online consumer base has expanded significantly, younger consumers will remain the key driver of e-commerce’s growth during the forecast period. Younger consumers will also be key in driving the rise in eco-conscious demand in home furnishings.
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The furniture and other moveable articles in a home that are necessary or useful for comfort and convenience. Items must be new when sold to the consumer; second-hand/used home furnishings are excluded. Antiques are also excluded. Home furnishings refers to indoor living (home textiles, indoor furniture and window coverings), outdoor living (BBQ's, garden sheds and outdoor furniture) and lighting (lighting sources and light fixtures).See All of Our Definitions
This report originates from Passport, our Home Furnishings research and analysis database.