Despite the closure of homewares and home furnishing stores in Q2 and part of Q3 2020, home furnishing saw strong demand from consumers who wanted to invest in their personal spaces. As consumers spent more time at home, there was a greater desire and need to create a better environment for stay-at-home entertainment, work-from-home setups, and remote learning.
Many US households focused on their outdoor areas when travel and indoor entertainment were limited during lockdown. More social activities were done outdoors in household backyards and gardens.
Despite the spike in demand for home furnishing items in 2020, the industry faced unprecedented challenges throughout the supply chain. Longer lead times caused by factory shutdowns and stagnant international transportation resulted in difficulties to feed enough supply to the surge in demand.
After a relatively positive performance in 2020 for many major home furnishings categories, mainly due to the high demand spurred by home seclusion trends, the industry is set to see lower growth in value growth terms (at constant 2020 prices) from 2021 onwards. With people returning back to workplaces, schools, and outdoor activities, the need for things such as home office furniture and outdoor furniture will lessen.
During the pandemic, store closures and cautiousness surrounding the virus moved many sales into the e-commerce channel, which saw immense growth in 2020. E-commerce is expected to be the most dynamically growing channel in home furnishing over the forecast period, further taking value sales from store-based retailing.
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Understand the latest market trends and future growth opportunities for the Home Furnishings industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Home Furnishings research and analysis database.
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