Market Trends of North America K-12 Furniture Industry
Wood Furniture is Dominating the Market in United States
Wooden furniture is the most common in North American schools due to the high manufacturing output of wooden products compared to other materials. Furthermore, wood is conventionally considered the most preferred material for furniture production.
America is one of the countries with high forest cover; thus, the availability of wood for furniture making is high in the country. Thus, wood holds the highest market share for school furniture by material. With developing technology, manufacturers can cut wood in newer ways to create different furniture styles that suit each school setting. This has allowed wood to remain the major North American K-12 furniture market segment.
Increasing Furniture and Home Furnishing Store Sales In United States
In 2021, furniture and home furnishings store sales in the United States amounted to about 140.6 billion U.S. dollars, up from around 113 billion recorded a year earlier. The home furnishings retail industry allows consumers to make their homes truly their own with their very choices of furniture and décor to adorn them. Style, affordability, and functionality are the main reasons consumers give for shopping at lifestyle furniture stores, such as Ikea, Williams-Sonoma, Crate & Barrel, and RH (Restoration Hardware). Demand for home furnishings is cyclical, influenced by housing starts, as desires to remodel and redesign are not necessary during slow economic times. Demand is also driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through a depth of products and superior customer service
