Report Code: A12382 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Wood Furniture Market
Request Now !The furniture includes items such as tables, chairs, or beds used in a sitting area and laying on them. Rapid economic growth, more disposable income, and decreased land availability will offer plenty of chances for the growth of the wood furniture sector. Wood is regarded as the most sturdy, lasting material and is hence extensively utilized in furniture building. Wooden furniture offers numerous benefits over other furniture kinds. The wooden furniture is very durable and requires less upkeep. The wooden furniture can be refurbished and renovated multiple times. In addition, the demand for wooden furniture has increased markedly by rising living standards and economic situations. The COVID-19 pandemic had an adverse impact on the wood furniture market. The enforcement of lockdown by the government had restricted the consumers from moving out resulting in the complete closure of the corporate and educational sector. Therefore, the demand for wood furniture has eventually decreased.                            Â
COVID-19 Impact Analysis
Top Impacting Factors
Market Trends
The rise in demand for wooden furniture from the residential sector
The demand for wood furniture is increasing in the residential sector. The contribution of the residential sector to the requirement for wooden furniture is high compared to the commercial sector. The elevated demand is because people are utilizing wooden furniture in homes for many purposes such as cupboards, decorating, and other purposes. Due to the rising population and increased need for cheap housing, there has been a phenomenal expansion in the residential property sectors in these last several years, as the demands for wooden furniture should further increase.
An Omni-channel strategy is beneficial for the growth of the wood furniture market
Customers are opting for more convenient ways of buying wood furniture by shifting to e-commerce purchases. Lack of transparency of details and inconsistent pricing is affecting the consumer to make a buying decision. As the world is moving towards digital business and mostly all transactions are occurring on the digital platform. It's an opportunity for the companies to interact with the consumers recognize their wants. A clear message about the product detail and proper mentioning of the price without any hidden charges will motivate the customer to approach the purchase.
The increasing adaptation by consumers toward furniture rental services is fueling the growth of the wood furniture market
The expansion of the rental market is predicted to have a favorable result from higher rental furniture expenditure and the rising acceptance of rental furniture due to low prices and lower maintenance and costs. In addition, the rise of mobile rental services is expected to have a significant influence such as the increasing number of internet subscribers, the increased mobile phone penetration and the rapid expansion of electronic commerce. The growth of furniture rental services is boosting the sale of wood furniture.
Key Benefits of the Report
Questions Answered in the Report
Wood Furniture Market Report Highlights
Aspects | Details |
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By Wood Type |
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By Material |
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By Price range |
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By Distribution Channel |
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By Region |
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Key Market Players | IKEA Holding, BV., Kimball International, Inc, Omega HNI Corp, Haworth, Inc., KOKUYO Co. Ltd., HNI Corp, OKAMURA Corp, Steelcase, Inc., Herman Miller, Inc., Knoll, Inc. |
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