Home goods and furnishing is a market ripe for digital disruption, and e-commerce is the answer. Online furniture sales represent one of the strongest e-commerce sales categories in the United States. How is this affecting the industry, and what does it mean for the future of furniture sales?
Market volume of the furniture and homewares industry is expected to reach $88.566m by 2022, according to Statista. To put that into perspective, it was at $57.735m in the U.S. in 2018. On top of that, the percentage of total retail e-commerce sales in furniture and home furnishings is projected to rise to 13.9% in 2022.
The industry is growing, and it makes sense that e-commerce is playing a pivotal role in this trend. Our own data tells us that even among industry businesses who already have an e-commerce experience in place, it hasn't ceased to be high-priority. As many as 78% of them plan to enhance or upgrade their web store in the next two years, based largely on customer demand.