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The online home decor market share is expected to increase by USD 58.99 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.92%.
This online home decor market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers online home decor market segmentations by product (online home furniture, online home furnishings, and other online home decorative products) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The online home decor market report also offers information on several market vendors, including Amazon.com Inc., Ashcomm LLC, Bed Bath and Beyond Inc., Century Furniture LLC, Chairish Inc., Coyuchi Inc., D decor Home Fabrics Pvt. Ltd., Herman Miller Inc., Hoffner Online GmbH & Co. KG, Home24 SE, Inter IKEA Holding BV, LaZBoy Inc., Otto GmbH & Co KG, Pier 1 Imports Inc., The Home Depot Inc., Urban Ladder Home Decor Solutions Pvt. Ltd., Urban Outfitters Inc., Walmart Inc., Wayfair Inc., and Williams Sonoma Inc. among others.
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The rise in online spending and smartphone penetration is notably driving the online home decor market growth, although factors such as strict competition from offline channels may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the online home decor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Online Home Decor Market Driver
One of the key factors driving growth in the online home decor market is the rise in online spending and smartphone penetration. Online shopping through smart devices has gained popularity over the years because of the high penetration of Internet services, improved economic growth, and the up-gradation of purchase and delivery options with the emergence of m-commerce. Security features for online payments, free delivery, improved online customer services, and the customer-friendly designs of online shopping websites are also contributing to the growth of the market. Rising online sales act as a key market driver for the growth of the global online home decor market. The increasing emphasis on mobile commerce is mainly driven by the purchase of millions of new smartphones and the creation of more opportunities for buyers to shop.
Key Online Home Decor Market Trend
The growing demand for eco-friendly home decor items is another factor supporting the online home decor market share growth. The rising environmental concerns and the stringent government regulations for monitoring the use of non-recyclable items are compelling brand owners to adopt eco-friendly products. The increasing consciousness of a healthy environment has increased the demand for eco-friendly furniture and other furnishings. This has motivated various home decor manufacturers to go green and provide eco-friendly home decor items. The growing use of eco-friendly materials for manufacturing home decor is positively influencing the global online home decor market.
Key Online Home Decor Market Challenge
The strict competition from the offline channel will be a major challenge for the online home decor market during the forecast period. Consumers prefer to buy home decor, home furnishings, and furniture from offline stores as consumers can see, touch, and judge home decor products before making their purchase decision, and buying home decor generally involves high-value online transactions. As furniture products are generally bought infrequently, consumers explore options from different stores to get the best value and quality proposition. Consumers are still attracted to the offline mode of purchase as it provides consumers with product demonstration and first-hand experience. The offline segment of the global home decor market is highly influenced by the increasing number of product specialty stores and brand-specific stores. Thus, offline stores act as a major threat to the global online home decor market.
This online home decor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global online home decor market as a part of the global home furnishings market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the online home decor market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the online home decor market encompasses successful business strategies deployed by the key vendors. The online home decor market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The online home decor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the online home decor market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market’s growth will originate from Europe during the forecast period. UK, and Germany are the key markets for online home decor market in Europe. Market growth in this region will be slower than the growth of the market in APAC regions.
The expansion of the urban population base is expected to increase the need for residential construction projects. This will facilitate the online home decor market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Owing to the high penetration of e-commerce channels in the region, the online home decor market recorded positive growth even during the outbreak of COVID-19 in 2020. In addition, as a result of the prolonged lockdowns and the adoption of remote working scenarios, the demand for efficient online home office furniture surged, which opened up new opportunities for the vendors in the regional furniture industry. In 2021, the easing of lockdowns and large vaccination drives across the region led to a steady expansion of the hotel business, which gave a boost to the sales of online furniture. However, the ongoing Russia-Ukraine war has negatively impacted the growth of the regional online home decor market in H1 2022.
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The online home decor market share growth by the online home furniture segment will be significant during the forecast period. The preference for online shopping is increasing, backed by the growing Internet penetration rate and the increasing number of smartphone users worldwide. The online channel allows manufacturers to expand their distribution networks by partnering with third-party e-retailers or establishing their own online shopping portals.
This report provides an accurate prediction of the contribution of all the segments to the growth of the online home decor market size and actionable market insights on post COVID-19 impact on each segment.
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Online Home Decor Market Scope |
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Report Coverage |
Details |
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Page number |
140 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.92% |
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Market growth 2022-2026 |
$ 58.99 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
7.49 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 42% |
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Key consumer countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Amazon.com Inc., Ashcomm LLC, Bed Bath and Beyond Inc., Century Furniture LLC, Chairish Inc., Coyuchi Inc., D decor Home Fabrics Pvt. Ltd., Herman Miller Inc., Hoffner Online GmbH & Co. KG, Home24 SE, Inter IKEA Holding BV, LaZBoy Inc., Otto GmbH & Co KG, Pier 1 Imports Inc., The Home Depot Inc., Urban Ladder Home Decor Solutions Pvt. Ltd., Urban Outfitters Inc., Walmart Inc., Wayfair Inc., and Williams Sonoma Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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