Market Outlooks 14 minutes PremiumUS Furniture Market 2019 Coresight Research May 9, 2019 Executive SummaryWe review the recent development of, and outlook for, the $114 billion US furniture retail market. The US furniture industry has been on a steady growth curve driven by a strong economy, with consumer spending on furniture reaching $114.2 billion in 2018, up 6.7%, according to the US Bureau of Economic Analysis (BEA). Uncertainty in the housing sector as housing permits and starts decline represent headwinds. Millennials, the largest consumer group in the US, have become a key target market for furniture retailers, and retailers are shifting offerings to more effectively reach this group. 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. Brick-and-mortar stores remain the format of choice for the majority of US consumers, but establishing a strong omni-channel presence has become imperative in a sector in which research online, purchase offline is commonplace. This report is for Premium subscribers only. Learn more about subscriptions here.If you are a Premium subscriber, please log in. Other research you may be interested in: