United States Home Décor Market was valued at US$ 190.96 Billion in 2020. The rising number of individual home buyers and expanding Real Estate industry are expected to drive the United States décor industry. Also, the surge in environmental awareness among consumers has shifted their preference toward eco-friendly home decor products, further boosting the Home Décor market in the United States. Furthermore, a surge in demand for trending & unique furniture anticipated to provide lucrative growth opportunities for the home decor industry in the US.
Home decor is the art of designing the internal and external part of a house, making them functionally useful for residents. Home decor items include floor covering, textiles, Carpet & Area Rugs, Bedroom & Kitchen Furniture, Lamp & Lighting Pots, Candles, Artifacts etc. The United States is mostly an urbanized society with high disposable income, making the home decor industry a bright future. According to the Renub Research report, United States Home Décor Market is expected to be USD 283 Billion by the end of the year 2026.
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Online Stores Emerged as new Medium for the Sale of Home Décor Products
In the last few decades, home décor products were traditionally sold from Specialty Stores and Supermarkets. But in the last few years, especially after COVID, E-commerce stores have also started to generate good sales. Penetration of devices like smartphones and tablets with easy payment options has also fueled the market growth of online home décor products. Digital marketing and Social Media have started to play a much bigger role compared to magazines and television advertisements. Social media influences consumer purchasing decisions. Since Generation Z and Millennial, people also buy home decor products through social media. The US Home Decor Market has witnessed significant growth over the years, and it is expected to grow with a CAGR of 6.78% from 2020 to 2026.
COVID-19 Impact on the United States Home Décor Market
• Due to the pandemic, international trade was put on hold, which resulted in a shortage of raw materials.
• COVID-19 outbreak, on the other hand, interrupted the supply chain. Also, a majority of the manufacturing facilities halted their operations too.
• The demand for home décor also declined during the first phase of the lockdown. However, in several regions, the government bodies are uplifting the regulations, thereby allowing them to restart their processes.
The reasons for this report to be among the best and must buy category:
• The study concludes with a quantitative analysis of the current United States home decor market drift, assessment, and dynamics of the market size from 2016 to 2026 to identify the prevailing opportunities.
• In-depth analysis and the United States home decor market size and segmentation help determine the general global home decor market opportunities.
• The different market players positioning segment facilitates benchmarking and clarifies the industry’s market players’ present position.
Renub Research new report titled “United States Home Decor Market by Product (Home Textile, Floor Covering, Furniture) Distribution Channels (Specialty Stores, E-commerce, Supermarkets & Others) Category (Eco-friendly, Conventional), Price (Premium, Mass), Income (Lower Middle, Upper Middle, Higher) Company (Inter IKEA Systems B.V., Bed Bath & Beyond Inc., Herman Miller, Mohawk Industries Inc., Williams-Sonoma, Inc.)” provides detailed analysis of United States Home Décor Industry.
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