Global Online Home Decor Market Size study with COVID-19 Impact, by Product (Online Home Furniture, Online Home Furnishings, Other Online Home Decorative Products) and Regional Forecasts 2020-2026
— Online Home Decor Market:
Online Home Decor market includes the availability of home décor goods such as Posters, frames, furniture, vases, wall mirrors, which enhance the visual appeal of the house, Online. The Rising demand for eco-friendly furnishings and multi-functional furniture drives the market towards growth. Further rising demand for premium furniture and availability of multiple options on the Online store fuels the market growth. Also, the rising disposable income coupled with growing popularity of interior designing further boosts the market growth. Moreover, the spread of the COVID-19 Pandemic has positively impacted the market growth. As countries moved towards shutdown the population base using Smartphones and others technologies increased and the shutdowns gave people time to redecorate their homes by purchasing home furnishings online. As per the company sources, Wayfair company, an online furniture store, witnessed an increase in sales amidst the pandemic. As in January and February the company witnessed a gross revenue growth of just 20% but by the end of the March the gross revenue growth surged to more than double. This is mainly due the shift towards Work from home culture which has provoked the employees to purchase and set up small office spaces in their home leading to Online Home décor applications. This can be witnessed through the data from Sales Force’s Q1 Shopping Index, which states that home décor and crafting items have posted a 51% digital sales boost in 2020’s first quarter. However, increase in operational costs impedes the growth of the market over the forecast period of 2020-2026. Although, rising prevalence of Smartphones coupled with easy availability of Internet further drives the market towards growth.
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The regional analysis of global Online Home Decor market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high disposable income coupled with rising trend of interior designing in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising disposable income along with rising penetration of smart phones and Internet would create lucrative growth prospects for the Online Home Decor market across Asia-Pacific region.
Major market player included in this report are:
Bed Bath & Beyond Inc.
Herman Miller Inc.
Inter IKEA Holding B.V.
Lowe's Companies Inc.
Pier 1 Imports Inc.
Trendsutra Platform Services Pvt. Ltd.
Urban Ladder Home Décor Solutions Pvt. Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Online Home Furniture
Online Home Furnishings
Other Online Home Decorative Products
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Online Home Decor Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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