Global Furniture and Homewares E-Commerce
Global online furniture and homewares revenues are projected to increase by a five-year compound annual growth rate (CAGR) of 15% to US$220 billion in 2020, according to Statista.
The US and the UK are expected to see 7.6% and 13.7% CAGRs in online furniture and homewares sales, respectively, for the same time period. The UK had the highest percentage of furniture and homewares purchases made online in Europe at approximately 12.1% in 2015, even higher than the 8.6% in the US.
The online channel is very suitable for researching hundreds of varying designs and products, without the need to visit an endless round of stores. More customization options are available online and allow for a level of differentiation not available in-store.
In the last few years, numerous innovative pure-play furniture and home furnishings retailers have been established across the world, including Made.com and Loaf.com in the UK market.