Sales of sofa beds and other sitting furniture are expected to record strong growth over the forecast period. Demand will be particularly strong in 2023, as the high inflation rates in 2022 put off many consumers from purchasing expensive home furnishing products.
According to a 2022 study conducted by Cisco, 92% of employees in the Philippines reported feeling happier due to the flexibility of working from anywhere. As a result, it is anticipated that the trend towards remote or hybrid work arrangements will continue to gain popularity in the country over the forecast period.
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Understand the latest market trends and future growth opportunities for the Home Furnishings industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Furnishings industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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.
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