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The size of the global bedroom furniture market in 2021 was estimated at US$123.26 billion and is expected to reach a compound annual growth rate (CAGR) of 3.9% between 2023 and 2032.
The bedroom furniture market is driven by consumer preference for high quality furniture due to advances in home technology. In addition, the demand for bedroom furniture has also increased due to the growing popularity of small houses. As per capita incomes rise, especially in developing countries, easy access and digital tools have transformed traditional homes into high-end luxury residences.
The bedroom furniture includes comfortable beds and drawers as well as wardrobes, creating an oasis of calm that satisfies all the needs of the end user. Traditional furniture is becoming more and more popular as it creates a decorative atmosphere in the bedroom. The furniture market is growing due to increased investment in real estate.
Market growth is driven by several key factors, including changing consumer preferences for high quality furniture due to advances in home technology.
Online shopping is becoming more and more popular as people increasingly rely on them to purchase household items. All products can be found on these platforms, making it easy to shop, whether you’re looking for bedroom furniture or a grocery store. Many big players have taken advantage of these opportunities and launched their own websites and apps that allow customers to place orders from anywhere.
Furniture rental services are popular among people who temporarily move to another city for work or higher education. These furniture rental companies offer rental furniture sets at affordable prices. They also offer furniture pickup and delivery services from warehouses or stores to customers’ homes. As the popularity of furniture rental services in cities grew, they began to be profitable. The largest consumer of bedroom furniture is furniture rental services. This is the main reason for the rapid growth of the global furniture market.
Limitations Wood is used in many different ways in the manufacture of furniture. International markets are facing a shortage of wood products, which could impact sales of bedroom furniture. The rise of e-commerce platforms has become a key driver of bedroom furniture sales. Delays in furniture delivery can also hamper sales and market development.
Bedroom furniture, due to its size and shape, is a challenging yet exciting e-commerce segment. It is also easily damaged. The bedroom furniture delivery system is not as developed as other areas of e-commerce such as style.
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Post time: Sep-12-2022