United States Furniture Market Size

US Furniture Market Analysis

After the outbreak of the COVID-19 pandemic, consumer markets in the United States gradually shrank, and consumption expectations dropped significantly; foreign trade companies were generally faced with the suspension or cancellation of orders by international buyers, especially in the furniture industry, which witnessed a sharp drop in export volume caused by demand-side factors, economic recession and reduced consumer demand caused by the severe COVID-19 pandemic in major destination countries, and the closure of downstream furniture enterprises.

United States furniture market has kept its steady expansion over the past decade and continues to be spurred by the growing furniture demand in both residential and commercial properties around the world. With the increasing number of consumers shifting their preference towards quality and stylish furniture products due to higher disposable income and better lifestyle requirement, the furniture market in the United States is expected to witness a stronger growth in terms of domestic furniture sales and international furniture exports over the near future. The market players are using strategies such as collaboration, acquisition, and new product development and launches to strengthen their position in the market.

E-commerce as a channel for furniture shopping is becoming increasingly popular, especially among millennials, and companies such as Amazon and Wayfair have capitalized on this trend to become formidable players in the sector. Over the recent years, United States consumers are focusing on quality and durability when purchasing furniture. While furniture products for living room and bedroom remain highly popular, several other furniture categories such as outdoor furniture, vintage looking furniture pieces, as well as environmentally conscious products are also experiencing rising sales.