Market Trends of Saudi Arabia Home Furniture Industry
Rising Bedroom Furniture Sales
Bedroom furniture is considered a form of decorative art ranging from beds with mattresses of different shapes and sizes to clothes closets, nightstands, and dressers. The rise in Saudi Arabia's residential apartments and a rise in modern infrastructure facilities are expected to spur the demand for the home furniture market owing to the customer's interest in furniture and home decor. In the revenue of the furniture market of Saudi Arabia, bedroom furniture has a share of more than 19%, with a continuous increase in revenue over the years.
With Leading space in the residential segments being occupied by apartments and villas in Saudi Arabia, they are emerging as the segments with rising demand for bedroom furniture as people prefer apartments in cities. In addition to this, after recovery from COVID-19, the hospitality segment in the country is observing a rise in business and resuming their demand for bedding and bedroom furniture.
Rise in Online Sales
With the advent of COVID-19, retail offline sales of the furniture market were affected negatively by a decline in sales. Online revenue sales of the furniture market during the period observed an increase as more retailers started offering their products online and more people started purchasing products through E-Commerce. Among the brand share, Amazon has a share of more than 50% in Saudi Arabia, which leads to furniture of major brands Costco, Easy Home, Target, and others being available through online sales channels.
With an increasing number of payment options available in online purchase methods of Credit Card, EMI, and others, combined with lucrative offers available by the sellers, is making online sales of furniture a user-friendly way and purchase. With this trend, online purchase options are opening new revenue sources, enabling manufacturers to raise their sales of furniture.
